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UPDATE: Another Parallel To ASD/Golden Panda/AVG Emerges In Canadian Probe Of Manna Trading Corp. Ltd.

Yesterday we reported that the British Columbia Securities Commission (BCSC) ordered penalties and disgorgement totaling $42 million in the case against Legacy Capital Inc., Legacy Trust Inc., Manna Trading Corp Ltd. and Manna Humanitarian Foundation. We reported several parallels to the ongoing investigation in the United States into the business practices of AdSurfDaily/Golden Panda Ad…

Oct 27, 2009
HYIP/AUTOSURF SHOCKWAVES: Regulators Order Canadian Ponzi Schemers To Pay Penalties Totaling $26 Million And To Disgorge Illegal Profits Of $16 Million; Case Has Parallels To AdSurfDaily And AdViewGlobal

The British Columbia Securities Commission (BCSC) has ordered four respondents in a civil action to pay penalties of $26 million for operating a Ponzi scheme and to surrender $16 million in illegal profits. In forceful findings that may echo throughout the HYIP and autosurfing universe, BCSC said the schemers tried to skirt securities laws by…

Oct 26, 2009
NO AUTOSURF ENVY: Newspaper Circulation Plunges; Top Publications Hemorrhage Print Readers As Industry Looks To Harness Power Of Internet Advertising

EDITOR’S NOTE: If you’ve been approached by individuals or a downline “team” and invited to join an online “surfing” program that purports to be an “advertising” company, this column may be of some value to you. Extremely well-known publishing companies — companies that produce titles you know and love, and companies that know advertising and…

Oct 26, 2009
BREAKING NEWS: Florida Revokes Corporate Registration Of Andy Bowdoin’s AdSurfDaily Inc.; Dissolves Bowdoin/Harris Enterprises Inc. On Same Date

UPDATED 10:47 P.M. EDT (U.S.A.) The state of Florida has revoked the corporate registration of AdSurfDaily Inc. Meanwhile, the state has dissolved Bowdoin/Harris Enterprises Inc. Both actions were taken Sept. 25 by the Florida Department of State’s Division of Corporations because neither company filed required paperwork. ASD’s registration is marked “REVOKED FOR ANNUAL REPORT.” The…

Oct 24, 2009
Bowdoin’s New Lawyer Has Another Big Case; Feds Charge Florida Home-Builder Scott Fawcett In Multi-Agency Operation Dubbed ‘The Mortgage Fraud Surge’

Michael R.N. McDonnell is the attorney for a Florida man charged Tuesday with obtaining $388,000 in a mortgage-fraud scheme, according to the Naples Daily News. McDonnell, a lawyer for nearly 40 years, recently was retained to represent AdSurfDaily President Andy Bowdoin in a civil-forfeiture case involving tens of millions of dollars seized from Bowdoin’s bank…

Oct 24, 2009
Three Florida Banks, Four Elsewhere Fail Today, Pushing Bank Failure Total In 2009 To 106

Seven banks failed in the United States today, including three in Florida, one in Georgia, one in Minnesota, one in Wisconsin and one in Illinois. Two of the failed Florida banks were in Naples. The third was in Bradenton, about 120 miles north of Naples. Both cities are situated in Gulf Coast counties. Two other…

Oct 23, 2009
‘PROJECT CORONADO’: Feds Make 303 Arrests In Raid To Disrupt Mexican Cartel; Seize $3.4 Million In Cash, 109 Vehicles, 144 Weapons, 729 LB. Of Methamphetamine

Federal agents, local police officers and prosecutors nationwide have carried out the largest action “ever undertaken against a Mexican drug cartel,” U.S. Attorney General Eric Holder announced. At least 303 individuals in 19 states were arrested in the past two days alone as part of Project Coronado. More than 3,000 agents and officers operated across…

Oct 22, 2009
LETTER TO READERS: Senior Citizens, The Culture Of Ponzi Schemes — And America’s Longing For A Return To The Age Of ‘Blue Light’ Specials, The Age Of Innocence

Dear Readers, From time to time I publish a post in letter form. This usually happens when a post in story, editorial or essay form does not seem appropriate. This is one of those times. Honestly, just how strange could things get in Ponzi Land? Ponzi Land, which relatively few people outside of law enforcement…

Oct 22, 2009
BULLETIN: Richard S. Piccoli, 83, Sentenced To 20 Years In Prison For Ponzi And Affinity-Fraud Scheme

In a case that features some of the same elements of the alleged AdSurfDaily Ponzi scheme — a senior citizen as the operator, appeals to religion, the sale of unregistered securities, commingling of funds, seized assets and advertising materials that promised a payout — an 83-year-old New York man today effectively was sentenced to life…

Oct 21, 2009
LAWSUIT: Madoff Had Prebust Cocaine Parties; ‘Spends Time’ In Prison With Mafia Crime Boss, Convicted Spy; Eats Pizza Cooked By Child Molester; Cell Mate Is Convicted Drug Dealer

Bernard Madoff has made friends in prison and “spends time” with Carmine Persico, a reputed former Colombo crime family boss, and Jonathan Pollard, convicted of spying for Israel in a case that strained America’s relationship with Israel in the 1980s. Madoff’s cell mate is a convicted drug dealer, and Madoff eats pizza cooked by a…

Oct 21, 2009
BREAKING NEWS: Money-Services Business To Pay $18 Million To Settle FTC Claim It Facilitated International Fraud

So, you want to offer a money-services business to U.S. customers and not take international fraud seriously? Be prepared to pony up $18 million to settle fraud claims when they start rolling in. In a stunning announcement today, the Federal Trade Commission said “at least 79 percent of all MoneyGram transfers of $1,000 or more…

Oct 20, 2009