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FTC Gives Nod To BBB For Helping It Solve Advanced-Fee Scam Operated By Recidivist Offender; James Nicholson Banned For Life From Telemarketing, Hit With $17.2 Million Judgment, Loses Power Boat

A Florida man who operated a previous scam has been banned for life from the telemarketing business after state and federal authorities and the Better Business Bureau worked together to expose the operation, the Federal Trade Commission said. “The FTC received invaluable assistance in this matter from the U.S. Postal Inspection Service, the University of…

Mar 29, 2010
INetGlobal Accuses Former CEO Of Extortion Bid; Says Company Is Solvent; Accuses Government Of Leaking Search Warrant Affidavit To Press

Denying it was a Ponzi scheme, INetGlobal says a federal judge should release about $25 million, business records and computer equipment seized in an investigation by the U.S. Secret Service last month because the property was “unlawfully seized.” Meanwhile, INetGlobal has accused its former chief executive officer — whom it describes as a “informant” who…

Mar 26, 2010
BULLETIN: Autosurf Biz Takes Another Pounding; Federal Judge Adds Noobing As Receivership Defendant In Fraud Case Against Parent Company; 14 Other Subsidiaries Named

UPDATED 6:05 P.M. EDT (U.S.A., Jan. 20, 2011.) In yet another case that portends disaster for the so-called “autosurf” industry, a federal judge has ordered the Noobing autosurf to be added as a receivership defendant in a fraud case brought against its parent company. The FTC and attorneys general from Minnesota, North Carolina and Kansas…

Mar 25, 2010
DATA NETWORK AFFILIATES: License-Plate Data A ‘Loss Leader’; Company Statements Will Prove To Be ‘More Than 100% Accurate’

Using language with which followers of the long-running AdSurfDaily Ponzi/pyramid-scheme saga will be familiar, Data Network Affiliates (DNA) has declared its license-plate data program a “loss leader.” Meanwhile, the company declared it has “no competition” and that members will come to understand its advertising claims are true once it rolls out three-fourths of its program.…

Mar 25, 2010
IN MEMORY: ‘Peep’: Final Days Filled With Family Love; Tiny Pooch Observed Something That Won’t Be Seen Again For Decades

This post commemorates the life and passing of “Peep.” Peep, believed to be four, was Maddy’s newly adopted brother. He died Monday at the veterinarian’s office after a lengthy illness that left him unable to process nutrients and gain strength. Peep made his home for the past month with my sister, my brother-in-law and my…

Mar 24, 2010
ANALYSIS: Another Troubled Autosurf, Another Bizarre PR Approach; Some INetGlobal Supporters Attack The Messenger

If you follow news about the so-called autosurf “industry,” the mind-boggling PR approach by some supporters of Steve Renner’s INetGlobal is apt to remind you of the bizarre approach employed by Florida-based AdSurfDaily and some members of the now-defunct Surf’s Up forum. If you’re new to the ongoing saga of AdSurfDaily (ASD), the developing story…

Mar 20, 2010
FBI CHIEF: ‘Major Threats’ Emerging From ‘Stored Value’ Debit Cards And ‘Shell Corporations’; ‘Shadow Banking System’ Has Exploited Vulnerabilities

EDITOR’S NOTE: Autosurf or HYIP promoter? White-collar fraudster of another stripe? Fan of “stored value” debit devices used in the context of well-publicized,Â fraudulent business models? Owner of a “shell” company used to disguise the ownership of funds? Figure you’re smarter than the cops and that you’ve perfected your form of deceit as you pocket…

Mar 19, 2010
Narc That Car’s ‘F’ Rating From Better Business Bureau Unchanged; BBB Says It Asked For ‘Comprehensive’ Client List To Determine If ‘Bona Fide Product With A True Market Value’ Exists

Narc That Car (NTC) told the Better Business Bureau in Dallas that it would take a “few weeks” to respond to the BBB’s request to provide the organization a “comprehensive list of third-party clients,” the BBB said today on its website. The information was requested from NTC March 3 in an effort “to determine if…

Mar 18, 2010
EDITORIAL: Six Deaths Since 2006 In Car-Repo Incidents; Pistols, Knives, Autos Used As Weapons; Children Hauled Away In Repos

UPDATED 4:48 P.M. EDT (U.S.A.) We’ve been writing about Narc That Car (NTC) and Data Network Affiliates (DNA), two multilevel-marketing (MLM) firms that recruit people to write down the license-plate numbers of cars for entry in a database. The information purportedly is or will be sold to companies in the business of repossessing automobiles. Neither…

Mar 18, 2010
Astonishing Case Of Bank Fraud Alleged In New York; Charles J. Antonucci Sr. Charged With Bilking Pastors, TARP Program — And The Bank He Led

EDITOR’S NOTE: At the moment, I don’t have the time to do this story justice. The allegations, however, are astonishing. And law-enforcement officials at both the state and federal levelÂ are calling it another case that has been solved by the Interagency Financial Fraud Enforcement Task Force. A New York man has been arrested on…

Mar 16, 2010
BULLETIN: CFTC Busts 2 Alleged Ponzi Schemes; Patrick H. Rakotonanahary Arrested By FBI In Florida After Financial Fraud Enforcement Task Force Probe

A Florida man has been arrested by the FBI on 21 counts of wire fraud amid allegations he operated a forex Ponzi scheme, collecting more than $10.2 million and pocketing $1 million for himself. The announcement of the arrest of Patrick H. Rakotonanahary, 34, ofÂ Punta Gorda, Fla., was made in Hawaii after a joint…

Mar 16, 2010

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