Category: Uncategorized
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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…
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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…
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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…
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Now, Another ‘Program’ Uses Name Of JustBeenPaid: ‘JustBeenPaidNew’ Says It Features ‘Attractive 2.5% Daily Plans’ With Payments Through Payza
Yet another “program” appears to be trading off the name of JSS Tripler/JustBeenPaid. The new “program” is known as “JustBeenPaidNew.” It uses a domain registered Sept. 9 behind a proxy and, in butchered English, makes claims such as this: “We have some Good Professional Fund Managers, and thay [sic] invests [sic] in the global currency…
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RECOMMENDED READING: ‘Naras Funds’ Was Ponzi Scheme Tied To 2 Other Fraud Schemes, Prosecutors Say; 50-Count Indictment Returned After 4-Year FBI/IRS Probe
“He marketed his plan as ‘simply the best financial plan ever created.’” — Office of U.S. Attorney Benjamin B. Wagner of the Eastern District of California, Sept. 14, 2012 A California man and his 76-year-old father-in-law ran a $7 million Ponzi scheme called Naras Funds, federal prosecutors said yesterday. The younger man — Lee Loomis,…
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William J. Wise, International ‘Mastermind’ Of $129.5 Million Ponzi Fraud Involving CDs, Pleads Guilty To 18 Felonies; Top U.S. Attorney Says Federal Prosecutors ‘Around The Country’ Have Identified ‘Unprecedented Rise’ In Investment Fraud Schemes With ‘Staggering Losses’
“The fraudsters prey upon vulnerable victims, do not respect local or even state boundaries, and often loot the victims’ life savings.” — Melinda Haag, U.S. Attorney for the Northern District of California, Sept. 13, 2012 It featured confidence-boosting names: Millennium Bank, United Trust of Switzerland and Sterling Bank and Trust. But it was a cross-border…
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DEVELOPING STORY: Zeek Receiver Says He Has Secured Nearly $300 Million; ‘There May Be Tens Of Millions Of Dollars More Of Recoverable Assets’; Clawbacks May Be In The Offing As Receiver Raises Specter Of Claimants Circulating ‘False Information’
Kenneth D. Bell, the court-appointed receiver in the Zeek Rewards Ponzi scheme case, said in a statement today that he had recovered nearly $300 million and that “[t]here may be tens of millions of dollars more of recoverable assets.” On Aug. 17, the SEC described Zeek as a $600 million Ponzi- and pyramid scheme that…