Category: Alleged Ponzi Schemes
-
URGENT >> BULLETIN >> MOVING: Montana Fines ‘Funky Shark,’ Purported Upstart ‘Penny Auction’ Program; Operator Agrees to Pay $834,000 After Issuance Of Order
URGENT >> BULLETIN >> MOVING: (UPDATED AT 12:49 P.M. ET U.S.A. TO DELETE EARLIER REFERENCE TO ‘CEASE AND DESIST’ ORDER AND TO PROVIDE LINK TO CONSENT AGREEMENT AND FINAL ORDER.) An upstart “penny auction” company known as “Funky Shark” effectively has been shut down after the state of Montana named it in an order and…
-
URGENT >> BULLETIN >> MOVING: SEC Files Motion In Zeek Case To Oppose Appointment Of Examiner; In Blistering Memo, Agency Accuses Robert Craddock Of Encouraging Affiliates ‘Not To Cooperate With The Receiver’
URGENT >> BULLETIN >> MOVING: (UPDATED 11:58 A.M. ET (U.S.A.) The SEC has gone to federal court in the Western District of North Carolina to oppose a motion by Zeek “winners” to appoint an “examiner” over all Zeek affiliates. In a blistering, 12-page memo, the agency accused Zeek figure Robert Craddock of encouraging Zeek affiliates…
-
URGENT >> BULLETIN >> MOVING: Ira Lee Sorkin, Bernard Madoff’s Attorney, Files Motion For Clients Who Are Potential Clawback Targets For More Than $1.56 Million In Zeek Case
URGENT >> BULLETIN >> MOVING: (3RD UPDATE 11:33 P.M. ET (U.S.A.) Famed defense attorney Ira Lee Sorkin is seeking pro hac vice admission to practice in U.S. District Court for the Western District of North Carolina on behalf of two prospective clawback targets in the Zeek Rewards Ponzi scheme case. Sorkin is with Lowenstein Sandler…
-
BRIEF: Zeek Receiver Broadens Reach, Files In Southern District Of Florida — And In Northern Mariana Islands Nearly 15,000 Miles Away
In yet another demonstration of the reach of the alleged Zeek Rewards Ponzi scheme, court-appointed receiver Kenneth D. Bell has filed paperwork in the Southern District of Florida — and in Northern Mariana Islands District Court. The Northern Mariana Islands are a U.S. Commonwealth. Saipan is perhaps the best-known island in the chain. The flight…
-
Prosecution Asks Court To Impose Life Sentence On Jason Bo-Alan Beckman, Pitchman For Trevor Cook Ponzi Scheme; Beckman Says He Should Serve 364 Days And Then Become A Professional Speaker
“The nature and circumstances of this offense and Mr. Beckman’s history and characteristics, viewed together, cry out for a life sentence. With respect to Mr. Beckman, nothing less than a liberty-ending sentence would reflect the seriousness of this offense, promote respect for the law and provide just punishment. But perhaps most importantly, Mr. Beckman must…
-
Nearly $2 Million Allegedly At Stake For 3 Arizona Zeek Affiliates Who Received Subpoenas, Filings Say
“[Zeek operator Paul] Burks is solely responsible for determining the amount of ‘net profits’ to share in the Retail Profit Pool . . . Defendants represent that daily awards are calculated by dividing ‘up to 50%’ of daily net profits by the number of Profit Points outstanding among all Qualified Affiliates. This calculation results in…
-
BULLETIN: Zeek Receiver To Hold Conference Call For Victims On Dec. 17
BULLETIN: Kenneth D. Bell, the court-appointed receiver in the Zeek Rewards Ponzi scheme case, has announced he’ll hold a one-hour, web-based conference call Dec. 17 at 5 p.m. ET (U.S.A.). Bell is encouraging victims to email their questions to him prior to the call. The receiver’s full announcement is published below: December 11, 2012 When…