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Category: The Economy

BULLETIN: Legisi Receiver Goes After E-Bullion Assets Tied Up After Grisly California Murder; Robert D. Gordon Says More Than 85 Percent Of Funds Directed At HYIP Flowed Through Shuttered Processor

UPDATED 5:08 P.M. EDT (U.S.A.) How dangerous and bereft is HYIP Ponzi Land? More than 85 percent of the $72.6 million directed at the Legisi HYIP Ponzi scheme before its May 2008 collapse flowed through the now-shuttered e-Bullion payment processor operated by convicted murderer James Michael Fayed, according to the court-appointed receiver in the Legisi…

Jun 19, 2013
STATEMENT: PP Blog Hit By Bot Attack

The PP Blog was hit by a bot attack today bearing multiple IP signatures from Singapore. Dozens of Singapore IPs maintained open connections to the Blog for approximately three minutes. Why the Blog was targeted was unclear. The bots sought to call up individual stories and a number of archive URLs. In at least a…

Jun 18, 2013
Global Corporate Alliance, Dallas-Based Medical Insurance Firm, Allegedly Was $10 Million Ponzi Scheme; Operators Charged Civilly, Criminally; Purported Opportunity Tried To Build Street Cred By Tying Itself To Racing Sponsor

Global Corporate Alliance (GCA) was not an MLM or HYIP firm. Even so, some of the allegations against the Dallas-based company read like U.S. government complaints filed against Zeek Rewards, Profitable Sunrise and AdSurfDaily. Perhaps most notable is the SEC’s allegation that GCA had no underlying profitable business through which it generated payments to investors,…

Jun 18, 2013
‘Earn Profit Click,’ Scheme Targeted At Profitable Sunrise Victims On Facebook, Says It Will Build Its Program With Targeted Spam On Facebook And Twitter

An emerging scheme that butchers the English language and contends it opposes spam also bizarrely says it intends to build its business by requiring members to post ads on Facebook and Twitter. Equally bizarrely, the scheme says it accepts Liberty Reserve, the now-shuttered payment processor implicated by the United States last month in an alleged…

Jun 17, 2013
Raymond Leo Jarlik Bell, 70-Year-Old Purported ‘Sovereign Citizen’ Linked To AdSurfDaily Figure Kenneth Wayne Leaming, Sentenced To More Than 8 Years In Federal Prison

Raymond Leo Jarlik Bell, a 70-year-old purported “sovereign citizen” linked to AdSurfDaily figure Kenneth Wayne Leaming, has been sentenced to 97 months in federal prison for a tax scam. In July 2011, federal agents found records of bogus liens filed by Leaming against public officials while executing a search warrant at Jarlik Bell’s residence in…

Jun 17, 2013
SEC And FINRA Say ‘Pump And Dump’ Spam Increasing Sharply; McAfee Says ‘Botnet-Creating Malware’ Was Being Sold Through Liberty Reserve

DISCLOSURE: The PP Blog uses McAfee security software. The Blog is not compensated for its use of the software. UPDATED 10:23 A.M. (JUNE 15, U.S.A.) The U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority (FINRA) have issued an Investor Alert warning about a sharp increase in spam linked to “pump-and-dump” stock schemes.…

Jun 14, 2013
BULLETIN: New South Wales Police Arrest Man For Fraud Crimes Allegedly Linked To Liberty Reserve

BULLETIN: (UPDATED 11:43 P.M. EDT U.S.A.) The New South Wales Police Force (Australia) has arrested a 21-year-old man, amid allegations he was laundering money through Liberty Reserve. Officials did not identify the man in a news release announcing the arrest, but said he did not apply for bail and remains in custody. In a statement,…

Jun 11, 2013
ASD Updates Blog Experiencing Outage; [UPDATE: Now Back Online]

UPDATED 8:28 P.M. EDT (U.S.A.) The ASD Updates Blog is back online. Our earlier story is below . . . The ASD Updates Blog is experiencing an outage that is preventing the Blog from publishing and sending/responding to email, its publisher said today. The outage has been described as a “net related problem.” ASD Updates…

Jun 11, 2013
RALEIGH NEWS OBSERVER: Purported ‘Sovereign Citizen’ Jailed In North Carolina, Amid Allegations He Filed Bogus Lien Against Wake County Court Clerk

It has happened again — this time in Raleigh, N.C., officials said. Sullivan Colin, 36, has been arrested on a charge of filing a false lien for $3 million against a court clerk who oversaw a foreclosure case, the Raleigh News Observer is reporting. From the News Observer (italics added): Court officials say the lien…

Jun 11, 2013
International Scammer Pleads Guilty In United States To Swindling Retirees In ‘Jamaican Lottery Scheme’; O’Brain J. Lynch Potentially Faces Decades In Federal Prison

“Investigators from [the Social Security Administration] discovered that hundreds of victims throughout the United States were losing their social security benefits and their life savings either because they believed that they had won ‘The Jamaican Lottery’ or because, as part of another telemarketing scheme, they revealed enough information about themselves that allowed the thieves to…

Jun 11, 2013
BBC HOST: ‘We Have An Idiot On The Program Today’ — And It’s Alex Jones

HYIP apologists dating back (at least) to the AdSurfDaily Ponzi scheme in 2008 ($119 million) have bizarrely sought to defend their favorite scams by steering discussions off the track. Why talk about the recidivist securities felon who presided over ASD (Andy Bowdoin), for instance, when the “real menace” is the Bilderberg Group? And, hey, since…

Jun 10, 2013