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Category: Alleged Ponzi Schemes

REPORTS: TelexFree Blocks Members’ Access To Back Offices, Claims Hacking Attempts

UPDATED 6:23 P.M. EDT (U.S.A.) There are at least three reports in Brazilian media today that say TelexFree has blocked members’ access to their back offices. A company attorney said the blockages were necessary because hackers had attempted an intrusion, according to reports in Portuguese translated to English by Google Translate. Here is a link…

Jul 17, 2013
BULLETIN: Pat Kiley, Trevor Cook Ponzi Pitchman, Sentenced To 20 Years in Federal Prison

BULLETIN: Patrick Kiley, a radio host and conspiracy theorist who warned of “massive, massive chaos” and became a pitchman for the $194 million Trevor Cook Forex Ponzi scheme in Minnesota, has been sentenced to 20 years in federal prison. Kiley, 75, now becomes the fifth person sentenced to a long prison term in the epic…

Jul 15, 2013
Full Statement Of SEC On Criminal Conviction, Restitution Order And Civil Liability Of ‘Serial’ HYIP Ponzi Pitchman Matthew J. Gagnon

EDITOR’S NOTE: As the PP Blog reported Wednesday, HYIP Ponzi-scheme pitchman Matthew John Gagnon has been sentenced to five years in federal prison. On Thursday, the SEC released the statement reproduced below. Here’s hoping it will be the shot heard around the HYIP Ponzi World. Still pushing HYIPs on your websites and social-media sites, in…

Jul 12, 2013
URGENT >> BULLETIN >> MOVING: Legisi HYIP Ponzi Pitchman Sentenced To 60 Months In Federal Prison, Ordered To Pay $4.4 Million In Restitution

URGENT >> BULLETIN >> MOVING: Legisi HYIP Ponzi-scheme pitchman Matthew John Gagnon has been sentenced to 60 months in federal prison, ordered to pay $4.4 million in restitution and further ordered to serve three years’ supervised probation after his prison release, the office of U.S. Attorney Barbara L. McQuade of the Eastern District of Michigan…

Jul 10, 2013
URGENT >> BULLETIN >> MOVING: Ohio Calls Nanci Jo Frazer’s Focus Up Ministries ‘Front’ For Profitable Sunrise HYIP Fraud Scheme; State Says It Believes Frazer Was An AdSurfDaily Pitchwoman With History Of Promoting Fraud Schemes Such As Zeek Rewards And Profit Clicking

URGENT >> BULLETIN >> MOVING: (Fourth update 9:10 p.m. EDT U.S.A.) In court papers, the state of Ohio has called Nanci Jo Frazer’s Focus Up Ministries a “front” for the Profitable Sunrise HYIP scheme and alleges that Focus Up changed its name to Defining Vision Ministries Inc. in June 2013 — two months after the…

Jul 9, 2013
WSMV: Series Of Events Heightens Concerns About ‘Sovereign Citizens’ In Tennessee — And FBI Warns Police Across State To Be Aware

WSMV (NBC Nashville) is reporting that the FBI has issued an alert to Tennessee law-enforcement agencies statewide. The alert followed on the heels of a recent incident at a Nashville strip club involving purported “sovereign citizen” Eric Stanberry Jr., who was tased by police after he allegedly pulled a gun on an unarmed security guard.…

Jul 9, 2013
TelexFree Affiliates Gave AdSurfDaily-Like Coaching Tips, Instructed Prospects To Make Deposits At Bank Of America — And To Copy Slips To ‘Team Leader’s’ Gmail Address For ‘Expedited’ Service; TelexFree Also May Have TD Bank Account

“On or about July 14, 2008, [an undercover agent] opened an ‘upgraded member’ account with [AdSurfDaily]. ASD directs new members either to mail a money order or cashier’s check to its Florida office, or to deposit a certified check, money order or cash at ‘your nearest branch of Bank of America,’ directly into ASD’s BOA…

Jul 8, 2013
Notes/Analysis On TelexFree: A Little Like AdSurfDaily/AdViewGlobal, TextCashNetwork, Zeek Rewards, Profitable Sunrise And World Marketing Direct Selling

UPDATED 10:22 P.M. EDT (U.S.A.) The purported TelexFree “opportunity” is under investigation by multiple agencies in Brazil, its purported base of operations despite competing claims the company is headquartered in the United States. The notes below concern TelexFree’s U.S. presence and positioning. They are presented in no particular order of importance. TelexFree says it is…

Jul 4, 2013
REPORT: TelexFree Diverted $88 Million After Brazilian Judge Blocked Payments

UPDATED 1:04 P.M. (JULY 5, U.S.A.) Quoting a prosecutor, the website of iG — a Brazilian communications provider — is reporting that the TelexFree MLM “program” allegedly diverted $88 million after a judge in the state of Acre blocked payments as a pyramid-scheme probe got under way last month. TelexFree also operates in the United…

Jul 3, 2013
Law Firm’s Name Used In Bid To Dupe Members Of Banners Broker, Profit Clicking, MLM Attorney Says

UPDATED 11:28 P.M. EDT (U.S.A.) Scammers have used the names of government agencies and famous businesses in bids to dupe the public. Now, the name of a well-known MLM law firm appears to have been used for the same purpose. Attorney Kevin Thompson published a Blog post today that warns of a bogus Banners Broker/Profit…

Jul 2, 2013
URGENT >> BULLETIN >> MOVING: Threshold Dollar Number For Zeek Rewards’ Net Winners To Avoid Receivership Litigation Now Public; At Least 136 Settlement Agreements Ironed Out, Receiver Says

URGENT >> BULLETIN >> MOVING: (UPDATED 8:05 P.M. EDT U.S.A.) From the standpoint of avoiding financial accountability, it may have become more difficult for serial scammers who foist HYIP scams on the international public to thumb their noses at law enforcement and the courts. The court-appointed receiver in the Zeek Rewards Ponzi scheme case has…

Jun 29, 2013