PatrickPretty.com

Category: Alleged Ponzi Schemes

Zeek Promoters Send Email To AdSurfDaily Members, Asking Them To Wire Money To Confessed Ponzi Schemer Andy Bowdoin’s Jailhouse Account In The District Of Columbia; Zeekers ‘Owe This Man A Great Deal Of Gratitude And More’ For Opening ‘Path To Success,’ Email Claims

UPDATED 8:42 A.M. EDT (JULY 14, U.S.A.) It’s beginning to look as though the Zeek Rewards’ MLM “program” has within it a large downline consisting of members of the AdSurfDaily Ponzi scheme. And in what may go down as one of the most spectacular PR blunders in the history of multilevel marketing, some former ASD…

Jul 13, 2012
KABOOM! Alleged HYIP Operator Indicted On 49 Ponzi-Related Charges By Federal Grand Jury In Ohio After IRS Probe; ‘Program’ Was Pushed On MoneyMakerGroup And TalkGold; Wire Fraud And Money-Laundering Alleged Against Terrance Osberger Of Eagle Trades LTD

BULLETIN: The operator of an alleged HYIP fraud known as Eagle Trades LTD has been indicted on 49 Ponzi-related charges of wire fraud and money-laundering after a probe by the IRS, federal prosecutors in the Northern District of Ohio said. Terrance Osberger, 48, of Genoa, Ohio, has been charged with one count of wire fraud…

Jul 12, 2012
DEVELOPING STORY: CFTC Seeks Asset Freeze Amid Allegations Of Fraud Against Russell R. Wasendorf Sr. Of Peregrine Financial Group Inc.; Wasendorf Reportedly Attempted To Kill Himself Yesterday; Trevor Cook Ponzi Victims At Risk Of Getting Fleeced Twice

EDITOR’S NOTE: The PP Blog first became aware of reports about the suicide bid of Russell R. Wasendorf Sr. last night, after being contacted by a reader who was defrauded in the Trevor Cook Ponzi scheme. Wasendorf apparently sought to take his own life on the sparkling Cedar Falls, Iowa, property of Peregrine Financial Group…

Jul 10, 2012
UPDATE: (1) Article In Portuguese By Zeek Affiliate On Google News Says Program Has 100,000 Members In Brazil Alone; (2) American Pitchman Calls Zeek An ‘Investment’ On YouTube — And Then Takes It Back

UPDATED 1:59 P.M. EDT (U.S.A.) An article on Google News by an apparent Portuguese-speaking affiliate of the U.S.-based Zeek Rewards MLM “program” that is married to a penny-auction site known as Zeekler claims that Zeek has more than 100,000 members in Brazil alone. Meanwhile, a promo by an American affiliate dated July 7 on YouTube…

Jul 9, 2012
REPORTS: Accused Montana Ponzi Schemer Richard F. Reynolds Has Been Arrested In Kansas

Richard F. Reynolds, the accused Montana Ponzi schemer, has been arrested in Kansas, ABCMontana is reporting via the Associated Press. The AP report cites a report that first appeared in the Bozeman Daily Chronicle. Reynolds also is known as Richard F. Adkins. In March, the office of Montana Commissioner of Securities Monica J. Lindeen said…

Jul 9, 2012
ZEEK SLAYER? Now, A Penny-Auction Site Married To MLM-Like Scheme Purportedly Tied To Effort To Save Children From Hunger Or Becoming ‘Sex Slave[s]’; Build Up To ‘Founding Member’ Sales Pitch Drops Names Of White House, Chelsea Clinton, Historian And Presidential Adviser Doug Wead, Unidentified Presidential Candidate And NBC News Anchor Lester Holt

EDITOR’S NOTE: It is true that far too many of the world’s children live in poverty. It also is true that children may become the objects of criminals who engage in human trafficking and that children are exploited in the sex trades. It is equally true that legitimate charities exist to combat these horrific situations…

Jul 5, 2012
Raymond Bitar, Full Tilt Poker CEO, Arrested; Gambling Site Linked To THREE U.S. Banks That Failed, Feds Say; ‘The On-Line Casino Become An Internet Ponzi Scheme,’ Top FBI Official Says

Three vulnerable U.S. banks that processed illegal gambling payments for Full Tilt Poker in exchange for investments in the institutions later failed, federal prosecutors in the Southern District of New York said yesterday. The failures of Sunfirst Bank in St. George, Utah, and All American Bank and New City Bank — both of which were…

Jul 3, 2012
BULLETIN: Purported JSSTripler/JustBeenPaid Operator Frederick Mann Confirms For SECOND Time That ‘Program’ Pays Members With Funds From New Members; He Adds That ALL Payments Come From Members In Closed System

BULLETIN: Frederick Mann, the purported operator of the JSS Tripler/JustBeenPaid HYIP “program,” has acknowledged once again — this time by implication — that JSS/JBP pays members from funds received from new members. And Mann, who said the “program” had about a million members and acknowledged that nonmembers could not make purchases, has gone a step…

Jul 1, 2012
[DONATION POST]: Blog’s Editorial Well Has Grown To 1,681 Stories — And Thousands Of Other Links

Dear readers, I’ve delayed putting up this month’s donation post as long as I could, but we’re at the edge of July and have a new round of bills to pay. This month’s need is on the order of $550. Please give if you’re able. By giving last month, a small handful of readers were…

Jun 29, 2012
URGENT >> BULLETIN >> MOVING: Peter Madoff Charged Criminally, Civilly; Bernard Madoff’s Brother ‘Enabled The Largest Fraud In Human History’ And Gained Millions Of Dollars, U.S. Attorney Preet Bharara Says

URGENT >> BULLETIN >> MOVING: Peter Madoff, the brother of Ponzi schemer Bernard Madoff, has pleaded guilty in New York to a two-count superseding information charging him with conspiracy to commit securities fraud, tax fraud, mail fraud, ERISA fraud and falsifying records of an investment adviser. The government is seeking a staggering forfeiture order of…

Jun 29, 2012
Purported ‘Secret’ Computer Program And ‘Proprietary Computer Algorithm’ Were Launching Ground For Forex Swindle, Feds Say; George Sepero Charged Amid Allegations He Also Defrauded Elderly Widow With Serious Medical Problems Out Of Her Life Savings In Separate Scam

UPDATED OCT. 19, 2013. George Sepero has been sentenced to 100 months in federal prison. Our earlier story is below and has been edited to correct spelling. The word “proprietary” has been used again to mask a large financial swindle, federal prosecutors said. George Sepero, 39, of Glen Rock, N.J., has been indicted on charges…

Jun 28, 2012