Category: Alleged Ponzi Schemes
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BULLETIN: More TelexFree-Related Raids In Brazil
BULLETIN: In a follow-up to July’s “Operation Orion,” federal authorities in Brazil today conducted more TelexFree-related raids based on evidence uncovered during the first raids. A statement in Portuguese by Receita Federal — the Brazilian equivalent of the IRS — said it was aided by Brazilan federal police (Polícia Federal) and federal prosecutors (Ministério Público…
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URGENT >> BULLETIN >> MOVING: Massachusetts Charges 4 Alleged Promoters Of EmGoldEx Scheme, Saying ‘Program’ Was Fraud And That Hucksters Stacked Children In Downlines
URGENT >> BULLETIN >> MOVING: (14th Update 4:33 p.m. EDT U.S.A.) Massachusetts has charged promoters of the EmGoldEx MLM “program” with securities fraud and selling unregistered securities, alleging they “created a complex web entangling investors throughout the Commonwealth” in a “pyramid scheme” that offered “guaranteed returns of up to 1,105% for recruiting more individuals.” The…
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OUTRAGEOUS! Emerging Scheme That Appears To Have TelexFree Ties Is Trading On The Name Of Abraham Lincoln
UPDATED 12:24 P.M. EDT U.S.A. BehindMLM.com has a story today about an emerging “program” known as “8Elos” that may have ties to TelexFree promoters, including Sann Rodrigues, already charged with fraud in the TelexFree Ponzi- and pyramid case. Rodrigues is an alleged recidivist securities- and affinity fraudster who now may be adding a shiny object…
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In 1 Thai Province Alone, 120 Pyramid Schemes May Be Operating, Report Says
In Lamphun Province in northern Thailand, the Thai government suspects that 120 pyramid schemes may be operating and swindling villagers in and around the district of Li, according to a report at NationMultimedia.com. The report suggests this is a specific type of securities swindle in which investors purchase shares in purported construction companies that actually…
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TELEXFREE BRIEFS: (1) False Claims That ‘Program’ Has Been Cleared Of U.S. Pyramid-Scheme Charges; (2) Name Of Model/Racecar Driver Used In Sanitization Campaign; (3) TelexFree Members Targeted In Ongoing ‘IFreeX’ Reload Scheme
1.) Reports began to surface late Thursday on Twitter and Facebook that TelexFree has been cleared by a judge of U.S. pyramid-scheme charges. These reports are false. Period. Perhaps to add credibility to the claim, a photo that appeared to depict a female TV reporter sitting in a studio was posted on Facebook. A computer…
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CKB/CKB168, WCM777 And TelexFree Prosecutions Make SEC’s 2014 Highlight Reel; Agency Says Its Job In MLM Sphere Isn’t Done
The prosecutions of the CKB/CKB168, WCM777 and TelexFree “programs” made the SEC’s highlight reel for fiscal year 2014, which began on Oct. 1, 2013 and ended on Sept. 30 of this year. In a statement today, the SEC said “new investigative approaches and the innovative use of data and analytical tools contributed to a very…
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DEVELOPING STORY: Zeek Figure Robert Craddock Accused Of Trademark Infringement And Engaging In ‘Shake-Down’ Bid Against MLM Affiliates
EDITOR’S NOTE: The story below focuses mostly on a lawsuit filed against Zeek Rewards figure Robert Craddock by a Nevada company known as BTG180. A lawsuit filed against Craddock by a Wyoming company known as OfferHubb.net Inc. makes similar claims against Craddock. ** ___________________________________** DEVELOPING STORY: (4th Update 10:12 a.m. EDT Oct. 14 U.S.A.) Zeek…
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UPDATE: Ad For Book By Zeek Figure Robert Craddock Appears On Drudge Report
DISCLOSURE: The PP Blog carries ads from AdChoices that are delivered by Google. UPDATED 7:22 A.M. EDT OCT. 12 U.S.A. The PP Blog observed yesterday that a new book by Zeek Rewards figure Robert Craddock now is available on Amazon.com after earlier having been listed as “Out of Print” and with “Limited Availability.” The price…
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SEC Declines To Comment On New Claims Attributed To Zeek Figure Robert Craddock
UPDATED 8:30 P.M. EDT U.S.A. The SEC this afternoon declined to comment on a confounding claim attributed to Zeek Rewards figure Robert Craddock that Zeek took in $1 billion in 12 months and that the U.S. government should have modeled a “stimulus program” after Zeek instead of shutting it down in 2012. News that Craddock…
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TelexFree Figure Carlos Costa Trounced At Polls For Seat In Brazilian Congress
UPDATED 9:32 P.M. EDT U.S.A. TelexFree figure Carlos Costa of the state of Espírito Santo appears to have come up far short in his bid to win a seat in Brazil’s 513-member federal Chamber of Deputies, the equivalent of the U.S. House of Representatives. Although final numbers appear not to be available yet, more than…