Category: The Economy
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BULLETIN: Judge In Zeek Clawback Cases Grants Receiver’s Motion To Certify Class Of 9,400 Alleged Winners; Todd Disner Faces Default; Phil Piccolo May Be Background Player
BULLETIN: (Updated 11:11 p.m. ET U.S.A.) Senior U.S. District Judge Graham C. Mullen has certified a class of more than 9,000 alleged “winners” of more than $1,000 in the Zeek Rewards scheme. Receiver Kenneth D. Bell sued more than 10 named “winners” in February 2014 in a case styled “Kenneth D. Bell v. Todd Disner,…
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‘Achieve Community’ Huckster Rodney Blackburn In New Ponzi-Board HYIP Scam: Rockfeller Asset Management Limited
UPDATED 9:54 P.M. ET U.S.A. It’s called “Rockfeller.” Like the massive TelexFree scam in Massachusetts, it is using the address of a Regus office center — only this time the facility is in London. A Ponzi-board scheme similar to Rockfeller — Profitable Sunrise — may have swindled tens of millions of dollars before disappearing two…
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Purportedly Based In Hong Kong And Offering Equity Positions, ‘MyCoin’ Bitcoin Exchange Reportedly Goes Missing; Hundreds Of Millions Of Dollars May Be At Stake
“MyCoin’s” bitcoin exchange might have operated as a “pyramid-style Ponzi scheme packaged as bitcoin trading,” potential victims plan to tell Hong Kong authorities Wednesday, the South China Morning Post is reporting. The news comes as bitcoin-themed schemes or “programs” that claim to accept bitcoin appear on Ponzi boards such as MoneyMakerGroup, raising continuing questions about…
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Feb. 5 TelexFree Bankruptcy Conference Is Canceled; Judge Orders Public Posting Of Trustee’s Report
UPDATED 5:42 A.M. ET FEB. 5 U.S.A. U.S. Bankruptcy Judge Melvin S. Hoffman has canceled a status hearing set for tomorrow in the TelexFree bankruptcy case. Hoffman further has ordered the report filed yesterday by TelexFree Trustee Stephen B. Darr to be posted publicly. Although the report already was posted, Hoffman’s order appears to underscore…
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Zeek Figure Robert Craddock’s Fun Club USA Severely Sanctioned In Trademark-Infringement Case; Judge Orders Default For Failure To Follow Court Order
OfferHubb.net Inc. sued Zeek Rewards figure Robert Craddock in February 2014, alleging Craddock “immediately” embarked on a web-based disparagement campaign after OfferHubb chose in July 2013 not to renew a contract with Craddock and Craddock’s Fun Club USA Inc. Co-defendants included Craddock’s wife, Sylvia Salgado Craddock, and Fun Club. Craddock was accused in the complaint…
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URGENT >> BULLETIN >> MOVING: Bankruptcy Trustee Says TelexFree Was ‘Pyramid Scheme’ That Gathered As Much As $1.8 Billion
URGENT >> BULLETIN >> MOVING: (10th Update 8:53 p.m. ET U.S.A.) In his first formal report to the Massachusetts bankruptcy court, TelexFree Trustee Stephen B. Darr calls the company a “pyramid scheme” that may have involved 1 million or more participants globally and gathered as much as $1.8 billion through arms in the United States…
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Promos By ‘Achieve Community’ Huckster For ‘Military Medical Relief 21’ Go Missing From YouTube
UPDATED 12:11 P.M. ET U.S.A. Two YouTube promos that asked U.S. military personnel and 20-year retirees to enroll in a purported study piggybacking off a purported “compound medication” to treat pain have been deleted. The promos were linked last month to “Achieve Community” huckster Rodney Blackburn, who also created a Facebook site to promote “Military…
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UPDATE: ‘Bacon’ Program Pushed By ‘Achieve Community’ Hucksters Reportedly Put On Hold By ‘Admin’; Second Program May Be DOA After Purported Payza Freeze
UPDATED 6:20 A.M. ET U.S.A. “BRING THE BACON HOME,” a bizarre Ponzi-board “program” purportedly operated by “Sherilyn” from “Singapore” and pushed on YouTube by Achieve Community hucksters Rodney Blackburn and Mike Chitty, reportedly collapsed during a so-called Beta launch this week and has been put on hold. The “program” purportedly turns $40 into $1,800. Achieve…