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Category: Alleged Ponzi Schemes

SEC Says Zeek Probe ‘Is Continuing’; Agency Updates Information Page

UPDATED 10:05 P.M. EDT (U.S.A.) The SEC today updated its information site on the Zeek Rewards Ponzi scheme case, noting its investigation “is continuing” and pointedly adding language that “ZeekRewards and [Paul R.] Burks immediately consented to an asset freeze, the appointment of a receiver over their assets, and the payment of a $4 million…

Sep 26, 2012
UPDATE: 1-Percent-A-Day Ponzi Schemer Andy Bowdoin Of AdSurfDaily In Custody Of U.S. Marshals And On Way To Federal Prison

Convicted AdSurfDaily Ponzi schemer Andy Bowdoin is in the custody of the U.S. Marshals Service and is listed “in transit” to a federal detention facility, according to court filings and the Federal Bureau of Prisons website. Where Bowdoin, 77, will do his time has not yet been revealed. But a criminal judgment against Bowdoin signed…

Sep 25, 2012
EDITORIAL: On Threats, Reporting On An Unprecedented Crime Wave — And A Disappearing Cloud Tag In The Age Of Epic White-Collar Fraud

EDITOR’S NOTE: On Friday, the PP Blog was informed by the Washington State Department of Financial Institutions that it wanted the Blog to remove its “tag.” This editorial describes the PP Blog’s thoughts on the matter. ** _____ ** Containing HYIP fraud schemes and online crime in the Information Age is a daunting challenge. There…

Sep 24, 2012
ZEEK: Part Of The Backstory — In Pictures

UPDATED 4:20 P.M. EDT (U.S.A.) Unsolved mysteries remain in the Zeek Rewards Ponzi scheme case. Among the unanswered questions are these: How many members did Zeek have in common with AdSurfDaily, a predecessor 1-percent-a-day scam to the Zeek scheme? Why do some Zeek “defenders” appear to be engaged in bizarre bids to harass and menace…

Sep 23, 2012
2 Attorneys Have Filed Court Notices For Robert Craddock’s Fun Club USA ‘And Other Entities Whose Assets Were Seized,’ According To Zeek Docket

UPDATED 7:58 P.M. EDT (U.S.A.) The mystery of precisely who would represent Zeek Rewards figure Robert Craddock in a bid to intervene in the Zeek Ponzi scheme case may be over. Attorney Rodney E. Alexander of Charlotte has filed an appearance notice for Fun Club USA Inc., Craddock’s Florida business that raised funds for a…

Sep 19, 2012
BULLETIN: Another Decade-Long Ponzi Scheme — This One In Missouri, CFTC Says; Grahame Rhodes Of St. Louis Accused Of Misappropriating ‘The Entire Amount Of The Participants’ Funds He Received’ And Ripping Off His Mother-In-Law

BULLETIN: (UPDATED 5:35 P.M. EDT U.S.A.) The CFTC has gone to federal court in the Eastern District of Missouri, alleging that Grahame Rhodes of St. Louis was at the helm of a decade-long, commodity-pool Ponzi scheme aimed at family and friends. Rhodes is charged with misappropriating the entire pool while “pretending to be a successful,…

Sep 19, 2012
ZEEK UPDATE: Thousands Of Records Filed Under Seal

UPDATED 4:20 P.M. EDT (U.S.A.) Attorneys for accused Ponzi schemer Paul R. Burks of the Zeek Rewards MLM “program” operated through North Carolina-based Rex Venture Group LLC have filed thousands of records under seal. On Sept. 17, Burks’ attorneys sought the approval of Senior U.S. District Judge Graham C. Mullen to file the documents under…

Sep 19, 2012
IRISH INDEPENDENT: ‘Senior Judges’ Caught Up In Collapse Of ‘Custom House Capital’ As Ponzi And Pyramid Concerns Lead To ‘Shockwaves’

“The fallout from the collapse of investment firm Custom House Capital (CHC) is sending shockwaves through Ireland’s elite. Barristers, solicitors and prominent sports stars were all roped in by the investment firm with promises of attractive returns.” — Irish Independent, Sept. 19, 2012 The Irish Independent is reporting that more than 1,500 investors may have…

Sep 19, 2012
BULLETIN: Mantria Ponzi Scheme Pitchmen Hit With Millions Of Dollars In Disgorgement And Penalties — And Principals Ordered To Pay Tens Of Millions

BULLETIN: Two pitchmen for the Mantria Corp. “green” Ponzi scheme have been ordered to pay millions of dollars in disgorgement and penalties, including a purported wealth coach who advised people who contacted him after the 2009 collapse of Mantria to join the Trump Network MLM “opportunity.” Mantria purportedly was an environmentally friendly investment opportunity. In…

Sep 18, 2012
BULLETIN: Zeek Had $20.7 Million In AlertPay/Payza And $20 Million In SolidTrustPay

BULLETIN: (UPDATED 9:18 P.M. EDT U.S.A.) New court filings by accused Ponzi schemer Paul R. Burks of Rex Venture Group LLC show that Zeek Rewards had more than $40 million in offshore payment processors. Included in that sum is $20.765 million in Canada’s AlertPay/Payza, and $20 million in Canada’s SolidTrustPay. Today’s filing also shows $10…

Sep 17, 2012
PP Blog Still $47 Short: [SEPTEMBER DONATION RE-POST]: The Challenges Are Unprecedented — And The PP Blog Continues To Serve Its Readers

Dear Readers, UPDATED 8:13 P.M. EDT (SEP.16. , U.S.A.) As noted on Sept. 15, the PP Blog is $255 $205 $155 $105 ($47) short for September. The matter is pressing now, so this post has been republished. The past few weeks have been something that approaches crazy. The PP Blog is doing some of its…

Sep 15, 2012