Category: Alleged Ponzi Schemes
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After Probe By Boston Police, Suffolk County DA Brings Ponzi And Loan-Sharking Charges Against Alleged ‘Common And Notorious Thief’; Investigators Say Investors Were Told They Were Providing Loans To Fund Loans At A Higher Rate
Some members of the Profitable Sunrise HYIP have said they were providing loans to “Roman Novak,” who lent out the money at a higher rate and created profits for the business and its promoters. Profitable Sunrise has been hit by cease-and-desist orders or Investor Alerts in at least 25 U.S. states and Canadian provinces. Profitable…
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PP Blog Experienced Outage
The PP Blog experienced a partial service outage that lasted through all or parts of three days. The event appears to have begun sometime after 3:13 a.m. EDT Saturday, although a couple of readers have said they noticed problems earlier. An engineer said this evening that Saturday’s event does not appear to have had a…
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Florida Man Booked On Charges He Attacked Ponzi Schemer
A Florida man has been arrested and booked in Seminole County on charges he attacked a woman who ripped him off in a Ponzi scheme. Booking information for Adam Pollock, 42, says he’s been charged with battery by strangulation, kidnap-false imprisonment, aggravated assault with a deadly weapon and battery. He is charged with attacking Tina…
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CURRENT NUMBER: [35]: Tally (Unofficial) Of States And Provinces Filing Actions Or Issuing Investor Alerts Against Profitable Sunrise
UPDATED 8:52 A.M. EDT (APRIL 16, U.S.A.) See related stories here (April 1) and here (March 25). EDITOR’S NOTE: These numbers are unofficial. They are culled from media reports and/or news releases from enforcement agencies. As the PP Blog reported yesterday, the Profitable Sunrise website appears to be down. The reason why is unclear, although…
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BULLETIN: No Profitable Sunrise For Florida Ponzi Pitchman; Gary D. Martin Sentenced In North Carolina To 10 Years In Federal Prison For ‘Queen Shoals’ Money-Laundering Conspiracy And Ordered To Pay More Than $31 Million In Restitution
In a development that could give pause to promoters of the purportedly “private” Profitable Sunrise scheme now on the radar of regulators in North America and Europe, a Florida man has been sentenced to 10 years in federal prison for his role in pitching a purported “opportunity” known as Queen Shoals. The announcement of the…
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DEVELOPING STORY: Pipe Bombs Reportedly Found In Pennsylvania Storage Unit Rented In Name Of Man Arrested In Ponzi Scheme Case
DEVELOPING STORY: It is early and facts remain unclear. What’s known, according to local news reports, is that the FBI notified local police in the area of Chester County in southeastern Pennsylvania that agents would be operating in the region. Late yesterday — sometime after 11 p.m. while some residents were sleeping — explosions were…
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HIGH POINT (N.C.) ENTERPRISE: Zeek Reached Out To Pluck Utah Man; 1 Downline Had 1,500 Members, Victim Tells Paper
Zeek Rewards likely had a presence in all 50 U.S. states, plus U.S. territories. The High Point Enterprise, a publication in Zeek’s home state of North Carolina, today has a story about a Utah man who joined the “program” just prior to the SEC bringing allegations in August 2012 that Zeek was a $600 million…