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  • BREAKING NEWS: Bowdoin, Busby, Garner, BOA Sued Anew

    UPDATED 7:42 P.M. EST (U.S.A.) Individuals associated with AdSurfDaily Inc. have been sued in U.S. District Court in Washington, D.C. The complaint alleges racketeering, and names Bank Of America a defendant for aiding and abetting the scheme. BOA was not named a RICO defendant. The case was brought by Mike Collins of Savage, Minn.; Frank…

  • ASD Members International Dissolved

    It came online a few months ago with the strange promise it would litigate against government entities involved in the AdSurfDaily case — even if they were behaving legally. If lawsuits didn’t work, then perhaps it would see about having prosecutors charged with crimes. But ASD Members International (ASDMI), a nonprofit registered in Missouri, is…

  • Bowdoin/Madoff Comparison: Is It Fair?

    Last night we received a note from a reader who had a bone to pick: He advised us, seemingly politely, that ASD was not an “autosurf.”  Rather, he said, it was a “manual surf.” There was a whiff of passive-aggressiveness in the note: He informed us that he did not desire to “address your blog”…

  • Gadfly Prison Inmate Jonathan Lee Riches Enters Madoff Fray; Files Motion To Intervene In Bankruptcy Case

    Veteran court watchers might have wagered it was only a matter of time before Jonathan Lee Riches filed a motion in the Bernard Madoff bankruptcy case. Had you placed a friendly wager, you’d be a winner. Riches’  brief  was recorded yesterday. He called it an “Amicus Curaie” motion to gain standing with the Court. Riches,…

  • Seniors In Gallery Of Ponzi Rogues; Grandpa Breaks Bad

    We noted Sunday that a startling number of senior citizens have been implicated in Ponzi schemes or accused of monumental financial misdeeds. Featured in this graphic are (left to right): Andy Bowdoin, president of fundamentally defunct AdSurfDaily Inc. of Quincy, Fla.; Bernard Madoff, head man at fundamentally defunct Bernard L. Madoff Investment Securities of New…

  • Nadel Diverted Client Funds To Family: Feds

    Florida hedge-fund manager Arthur Nadel turned himself in yesterday to the FBI in Tampa. Nadel had gone missing Jan. 14. He was immediately jailed. A bail hearing is set Friday. Previously we’ve written about some of the Nadel parallels to the AdSurfDaily Ponzi scheme case. Some of the parallels grew even more striking yesterday, with…

  • Readers Ask: Are The Surf Promoters REALLY That Stupid?

    We’ve received a number of comments from readers that fall along these lines: Are the people promoting autosurfs despite what has happened to AdSurfDaily, LaFuenteDinero and Golden Panda — and the collapse of MegaLido (and others) — REALLY that stupid? The short answer is maybe. Each and every one of them is risking the same…

  • BREAKING NEWS: Natures Discount Drops RICO Lawsuit Against Bowdoin, Busby, Garner

    Natures Discount, a former AdSurfDaily advertiser, has dropped a racketeering lawsuit it brought in November against ASD President Andy Bowdoin, Golden Panda President Clarence Busby, and Robert Garner, an attorney who appeared in a video touting ASD’s legality. Bank of America also was named a defendant in the Natures Discount complaint, though not as a…

  • MegaLido: Is There An ‘Instant2U.com’ Tie?

    In the weeks following the seizure of cash and property linked to AdSurfDaily Inc., some former members of ASD turned their attention to promoting MegaLido. MegaLido was pushed as a safe, offshore alternative to ASD and Golden Panda, and a way to make up ASD/Golden Panda losses that stemmed from the government seizure of cash…

  • Bowdoin, Nadel Cases Have Striking Parallels

    Some of the parallels between the alleged AdSurfDaily Ponzi scheme and the alleged financial misdeeds of Florida hedge-fund manager Arthur Nadel are striking. Two obvious parallels are the common Florida venue and the ages of the principals. ASD operated out of Quincy; Nadel out of Sarasota. ASD President Andy Bowdoin is 74; Nadel is 76.…

  • Senior Citizens Dominate Ponzi Headlines

    BLOG UPDATE 10:02 P.M. EST (U.S.A.): This post has been updated with information on Ronald Keith Owens, 73, who was just sentenced to 60 years in prison for running a “prime bank” Ponzi scheme promising huge returns out of the Bahamas. See update at bottom of post. Here, directly below, our earlier post . .…