Category: Alleged Ponzi Schemes
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BULLETIN: NOT JUST EUROPE: Court Filings In Profitable Sunrise Fraud Case Say Some Of The Money Went To Entities In Australia And Panama
UPDATED 9:11 P.M. EDT (APRIL 17, U.S.A.) Some Profitable Sunrise investors wired money to entities in Australia and Panama, according to new filings in the SEC’s pyramid-scheme and fraud case. The new filings, dated today, identify those entities as Technocash Limited of Sydney and Trackford Business Corp. of Panama City. Earlier filings named four other…
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Joe Borg Of Alabama Securities Commission Tells WSFA That Profitable Sunrise Worked Because People ‘Kind Of Glossed Over The Mathematics’
EDITOR’S NOTE: Alabama was one of the first U.S. states to take action against the Profitable Sunrise HYIP “program,” issuing both an Investor Alert and a cease-and-desist order last month. The C&D lists two alleged “agents” of Profitable Sunrise, demonstrating that a “program” can create problems for pitchmen, perhaps even as the “program” operators make…
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BULLETIN: Docket In Federal Court Shows That SEC Has Scheduled Deposition For At Least 1 Profitable Sunrise Pitchman
BULLETIN: (UPDATED 1:56 P.M. EDT (APRIL 8, U.S.A.) In a move that may rattle promoters of HYIP fraud schemes, the SEC has scheduled a deposition for at least one individual known to have pitched the Profitable Sunrise “program.” Pitchman Anthony M. Infante will be deposed April 11 at a location in Florida, according to the…
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URGENT >> BULLETIN >> MOVING: SEC Files Complaint Against Profitable Sunrise; Purported ‘Opportunity’ Called An International ‘Pyramid Scheme’
URGENT >> BULLETIN >> MOVING: (17th update 4:02 p.m.) The SEC has filed a complaint against the ProfitableSunrise HYIP “program” in federal court in Atlanta. The story first was reported by CourthouseNewsService this morning. At the same time, the PP Blog has learned that the agency applied for an emergency asset freeze, explaining that Profitable…
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Profitable Sunrise Filed ‘No Answer Or Other Responsive Document,’ Colorado Securities Officials Say; HYIP Scheme Was Pitched On Classified-Ad Sites, Research Shows
Profitable Sunrise had come under investigation in Colorado at least by March 8 and was officially notified March 11 that the state suspected it was breaking securities laws, the state Securities Board says in filings this week. Colorado scheduled a hearing for March 25 after learning that Profitable Sunrise also was under investigation in North…
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UPDATE: WordPress Boots Alleged Profitable Sunrise Pitchman Named In CONSOB Action
WordPress has booted a Blogger named in an April 2 order by CONSOB, the Italian securities regulator. The Blog of Daniele Verzari now carries this message: “vdprojectitaly.wordpress.com is no longer available. “This blog has been archived or suspended for a violation of our Terms of Service . . .” HYIP schemes spread in part through…
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CNN’s Anderson Cooper 360 Expected To Air Segment On Zeek Rewards Tonight; [UPDATE: Report Apparently Delayed]
UPDATE 8:07 A.M. EDT (APRIL 4, U.S.A.) The report did not air during the 8 p.m. or 11 p.m. broadcasts, possibly because developments in other stories took precedence. Our April 3 story is below . . . The Blog of CNN’s Anderson Cooper 360 is carrying this teaser today: “360 Wednesday[:] One of the biggest…
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URGENT >> BULLETIN >> MOVING: CONSOB, Italian Securities Regulator, Takes Action Against Alleged Profitable Sunrise Promoter
URGENT >> BULLETIN >> MOVING: The Italian securities regulator CONSOB has filed a suspension order that names an alleged promoter of Profitable Sunrise, amid allegations that Profitable Sunrise is an investment program. The agency said it observed pitches for ProfitableSunrise on a WordPress Blog under the control of “Daniele Verzari, who presents himself to users…
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ZEEK RECEIVER TO NET WINNERS: ‘The Time For Court Action Is Drawing Closer’
UPDATED 1:20 P.M. EDT (APRIL 4, U.S.A.) The court-appointed receiver in the Zeek Rewards Ponzi scheme case has warned net winners that “the time for court action is drawing closer” and that “there is an opportunity for settlement.” Receiver Kenneth D. Bell published a letter to winners today on the website of the receivership. A…
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NO EASTER PAYOUT: How To Contact State Securities Regulators About Profitable Sunrise HYIP SCHEME; [UPDATED WITH INFO FOR PROVINCES IN CANADA]
UPDATED 8:49 A.M. EDT (APRIL 16, U.S.A.) Today is the day payouts were due on the bizarrely named Profitable Sunrise “Long Haul” 2.7-percent-a-day plan. The Profitable Sunrise website has been offline for 18 days, leaving investors in the lurch. All of the U.S. states and provinces in Canada listed below have issued Investor Alerts or…