Ronald Wesley Groves and Donald Charles Mann swindled $4.8 million from 642 investors in a bizarre “international bank trades” caper that promised a payout of 4,000 percent. Now, they’ve been sentenced to an extra year in federal prison for filing false liens against a federal prosecutor and two FBI agents involved in the fraud probe, the office of U.S. Attorney Benjamin B. Wagner of the Eastern District of California said.
Prime-bank fraud schemes, which may trade on secrecy and claim to be humanitarian in nature, are among the strangest of all in Ponzi Land. In the Groves/Mann scheme, $300,000 made its way into “the coffers of a Liberian presidential candidate,” prosecutors said.
Liberia is a country in West Africa.
Groves, 71, was sentenced last week to 10 years in federal prison for his role in the “Money Growth Solutions” (MGS) swindle, which operated between April 2005 and April 2006.
Mann, 56, was sentenced to more than 17 years for the same swindle.
Both men were sentenced today to an extra year in jail for filing the bogus liens while they were awaiting trial on fraud charges from the MGS scheme in 2008. The liens claimed that Groves and Mann were owed $101.9 million and that the meter was running against the prosecutor and FBI agents at a rate of $100,000 a day.
Groves and Mann were charged with four counts of retaliation against federal officials by false claim and slander of title and one count of obstruction of justice.
From a statement by prosecutors:
The defendants told investors that these bank trades were a highly secretive investment vehicle known only to a few people around the world.
In June 2011, a jury returned guilty verdicts against Groves and Mann after a nine-day trial. According to evidence presented at their trial, in one program, investors were offered a 10 to 1 return (1,000 percent) on their investment within a matter of weeks. In a later offering, the defendants promised a 40 to 1 return (4,000 percent) in the same amount of time. The defendants told investors that while their money was waiting to be placed into a bank trade, it would be maintained in an escrow account that could not be touched for any other purpose. The defendants also told investors that if they were unable to execute a “bank trade,” the investors would receive their entire investment back plus 6 percent interest within 12 months. With the exception of a few people who were able to obtain refunds, every MGS investor lost their entire investment.
The federal investigation revealed that by April 2006, out of the $4.8 million received, Money Growth Solutions had less than $65,000 remaining in its bank account. Some of that money — $300,000 apiece — went into the pockets of the two defendants. The remainder of the money went to the defendants’ various pet projects, including $300,000 to the coffers of a Liberian presidential candidate and $2.5 million to a Florida company that was supposedly developing a revolutionary battery. The battery company was later determined by the Securities and Exchange Commission to be a scam and its owner was federally indicted.
UPDATED 12:46 P.M. EDT (U.S.A.) The evidence against AdSurfDaily figure Kenneth Wayne Leaming was “overwhelming” and led to the purported “sovereign citizen’s” conviction on three counts of retaliating against a federal official by filing false claims, one count of concealing a person from arrest and one count of being a felon in possession of a firearm, a federal judge wrote in court filings.
While making a veiled reference to the ASD Ponzi case brought by the U.S. Secret Service in 2008 in the District of Columbia, U.S. District Judge Ronald B. Leighton of the Western District of Washington wrote in an order dated March 14 that evidence showed Leaming “admitted to filing liens against a group of federal officials for absurd sums, $225 billion in one case.”
“The only link any of these officials had to each other was their participation in the prosecution of a Ponzi scheme on the east coast,” Leighton wrote. “The evidence demonstrated that Defendant was ‘helping,’ as he put it, certain individuals who were aggrieved by the prosecution of the Ponzi scheme.”
Leighton’s order did not identify the individuals Leaming was said to he helping. The order was issued in response to a bid by Leaming, 57, to be acquitted post-verdict amid assertions the evidence against him was insufficient to sustain the convictions.
But Leaming, according to the order, “admitted on the stand that he knowingly possessed the firearms in question because he wanted to challenge the law at the Supreme Court.”
And, Leighton wrote, the evidence “overwhelmingly supported Defendant’s conviction of concealing a person from arrest. The Government established that Defendant knew certain individuals were sought in relation to a postal-scam, that Defendant allowed them to stay in his home, helped them trade cars, and otherwise supported them.”
Those individuals have been identified in court filings as onetime fugitives Timothy Shawn Donavan and Sharon Jeannette Henningsen of Arkansas. They were found with Leaming in Washington state in November 2011. Donavan and Henningsen later were convicted of mail fraud in a home-business caper that gathered more than $2 million, prosecutors said.
ASD was a $119 million Ponzi scheme opearting from Florida over the Internet. ASD’s business model was similar to the model of the Zeek Rewards “program,” which the SEC described in August 2012 as a $600 million Ponzi- and pyramid scheme operating from North Carolina.
ASD and Zeek are known to have had members in common. Some ASD members said that Leaming was providing them counsel, despite the fact he is not an attorney.
The PP Blog reported in November 2010 that Cornell University Law School, Justia.com and Oyez.org removed online profiles of Leaming. The sites previously had listed Leaming as an attorney who practiced law and advertised a fee structure of up to $250 an hour from Spanaway, Wash.
Leaming was arrested by an FBI terrorism task force a year later in Spanaway.
Also see Nov. 13, 2010, PP Blog report on a disturbing email some ASD members received that asserted they could be sued for filing a remissions claim in the ASD Ponzi case.
In October 2011, the PP Blog reported than some ASD members had received an email that encouraged them to file documents at the “county” level and “name” federal officials as “thieves.”
Court filings suggest that Leaming already was under investigation by the FBI when some ASD members were trumpeting him as the answer to their problems.
EDITOR’S NOTE: Information from Tennessee was received after this story was published. The Tennessee info is published in the Comments thread below . . .
UPDATED 8:18 P.M. EDT (U.S.A.) Louisiana has issued an Investor Alert on the Profitable Sunrise HYIP, joining a growing list of U.S. states and Canadian provinces to have done so.
Profitable Sunrise has a presence on well-known Ponzi-scheme forums such as TalkGold and MoneyMakerGroup. The “program” purportedly is operated by Roman Novak and is trading on Bible verse.
“Consumers who have invested with Profitable Sunrise are encouraged to contact the Securities Division of the Office of Financial Institutions at (225) 925-4512,” the office of Louisiana Commissioner of Securities John Ducrest said.
With Louisiana’s action, the unofficial total of U.S. states or Canadian provinces issuing Investor Alerts or cease-and-desist orders against Profitable Sunrise now stands at 27. (See current list here.)
From the statement by Ducrest’s office (italics added):
Investments are purportedly used to provide short-term loans to companies at 3% interest per day. The company’s website also states that investors may earn money by recruiting others through a referral program that pays 5% of deposits generated from recruits.
Consumers should be aware that neither Profitable Sunrise, nor its investment products, are registered in Louisiana as required by the Louisiana Securities Law. High-yield investment programs often have common red flags of fraud that consumers should be looking for, such as unusually high yields; lack of information regarding the investment operator; unclear methodology for achieving returns; off-shore operations; incentives to recruit new investors; and online advertisements containing typographical errors and grammatical mistakes.
Some members of the Profitable Sunrise HYIP have said they were providing loans to “Roman Novak,” who lent out the money at a higher rate and created profits for the business and its promoters. Profitable Sunrise has been hit by cease-and-desist orders or Investor Alerts in at least 25 U.S. states and Canadian provinces.
Profitable Sunrise allegedly had five plans, all of which promised absurd daily interest rates to investors and one of which was billed as the “Long Haul” plan.
Prosecutors in Massachusetts today described a similar case, this one involving an entity known as Viking Financial Group Inc and its alleged operators, Steven and Lori Palladino. The couple is accused of operating a Ponzi scheme.
The office of Suffolk County District Attorney Daniel F. Conley described Steven Palladino as “common and notorious thief based on more than two dozen prior larceny convictions in Suffolk Superior and Norfolk Superior courts.”
From a statement by prosecutors (italics added):
Prosecutors allege that Viking borrowed money from investors, who were told by Steven Palladino that the funds would be used to provide loans at a higher interest rate. Very little of the money was used to make loans, prosecutors said, and it instead funded a lavish lifestyle for the Palladinos. Money borrowed from new investors was then used to repay earlier investors and to make monthly interest payments to all of the investors, prosecutors said.
Transactions show that investors’ money was often transferred from Viking’s account into personal accounts held by the Palladinos and used to cover personal expenses including a vacation in the Bahamas, rent for Steven Palladino’s mistress, and hundreds of thousands of dollars paid to casinos to cover apparent gambling losses, prosecutors said.
In addition, Steven Palladino allegedly made use of investors’ funds when he paid $350,000 to satisfy a condition of his probation on a 2007 Superior Court conviction for defrauding an elderly relative.
Prosecutors alleged that fake loans were entered in Viking’s corporate books to make them appear balanced. The named recipients of these made-up loans never applied for or received loans from Viking, prosecutors said.
The indictment also alleges that three of the real loans Viking extended in 2007 and 2008 charged interest rates well beyond the 20 percent maximum allowed under state law. Of those loans, prosecutors said two charged interest exceeding 60 percent and a third charged over 200 percent interest.
The state of California alleged last week that Profitable Sunrise was breaking both securities laws and lending laws in the state.
New Jersey has joined numerous U.S. states in issuing an Investor Alert on the Profitable Sunrise HYIP “program.”
Separately, Alabama has issued a cease-and-desist order. The state previously issued an Investor Alert.
With New Jersey’s action, the unofficial total of U.S. states or Canadian provinces issuing Investor Alerts or cease-and-desist orders now stands at 25. (See Current list here.)
“Like many frauds, this offer sounds too good to be true – and it appears to be just that,” said New Jersey Attorney General Jeffrey S. Chiesa. “Investors across the country, including here in New Jersey, are reporting this fraud and we’re alerting our residents so they can avoid becoming victims.”
Added Abbe R. Tiger, chief of the New Jersey Bureau of Securities: “Increasingly, scams rely on the internet as a forum for perpetrating fraud. Online sources provide a quick way for criminals to access millions of people and to prey upon members of identifiable groups, such as religious communities, retirees, and those who are desperate for quick income.”
“Any investment offer that promises guaranteed rates far higher than what banks, government bonds and other low-risk investments offer should be viewed with extreme skepticism and caution,” said Eric T. Kanefsky, acting director of the State Division of Consumer Affairs.
The PP Blog experienced a partial service outage that lasted through all or parts of three days. The event appears to have begun sometime after 3:13 a.m. EDT Saturday, although a couple of readers have said they noticed problems earlier.
An engineer said this evening that Saturday’s event does not appear to have had a malicious cause. The PP Blog experienced DDoS attacks in 2010 and other malicious events in 2011.
Saturday’s event affected publishing. It also affected readers’ ability to call up certain pages, mostly in archives.
I am grateful for the notes I received, especially from those folks who were here in 2010 and 2011 and remembered the maliciousness directed at the Blog.
Adam Pollock. Source: Seminole County Sheriff’s Office.
A Florida man has been arrested and booked in Seminole County on charges he attacked a woman who ripped him off in a Ponzi scheme.
Booking information for Adam Pollock, 42, says he’s been charged with battery by strangulation, kidnap-false imprisonment, aggravated assault with a deadly weapon and battery. He is charged with attacking Tina Mangiardi, 50, of Orlando.
Mangiardi, reportedly a former model, was charged March 7 in U.S. District Court for the Middle District of Florida with running a $2.5 million Ponzi swindle through TLM Design and Construction Inc. She pleaded guilty to one count of conducting a prohibited monetary transaction.
Pollock was charged on March 11, four days after Mangiardi’s guilty plea. The attack allegedly occurred at a gym operated by Pollock.
Mangiardi potentially faces 10 years in federal prison when sentenced. Pollock’s potential jail time was not immediately clear. He is being held without bond.
This disturbing ad for Profitable Sunrise is targeted at residents of South Dakota.
UPDATED 8:52 A.M. EDT (APRIL 16, U.S.A.) See related stories here (April 1) and here (March 25).
EDITOR’S NOTE: These numbers are unofficial. They are culled from media reports and/or news releases from enforcement agencies. As the PP Blog reported yesterday, the Profitable Sunrise website appears to be down. The reason why is unclear, although there are Ponzi-forum reports that the “opportunity” is switching servers, perhaps to Hong Kong.
For background, consider that the Zeek Rewards “program” operating in North Carolina until the SEC filed a Ponzi action last year allegedly planted the seed that it provided a return of about 1.5 percent a day. The bizarrely named “Long Haul” plan of Profitable Sunrise — with its purported Easter payout — purported to pay 2.7 percent a day. Indeed, the HYIP Ponzi universe has served up another doozy. Some of the Stepfordian promoters appear to have no concern at all that such “programs” undermine faith in legitimate markets and raise serious concerns about both national and international security. As noted below, HYIP “programs” are known to trade on themes of religion, patriotism and doing what’s best for a community. Despite all the fluff, the reality is that the “programs” are dangerous. Period.
Current count of state/provincial actions or investor alerts against Profitable Sunrise: 20. (Now 35, with March 15 additions of South Carolina, Alaska, Maryland, Maine, the March 18 addition of New Jersey, the March 19 additions of Louisiana and Tennessee, the March 21 additions of Oregon and Missouri, the March 25 addition of New Hampshire and the March 28 addition of West Virginia. The District of Columbia (Washington, D.C.) issued a warning on March 19. It was added to this list on March 27. Georgia issued a cease-and-desist order on March 14. It was added to this list on March 27. Idaho issued an Investor Alert on April 15. It was added to this list on April 16. Manitoba, in Canada, issued an alert on March 15. It was added to this list on March 21.)
In Canada: New Brunswick, Quebec, Ontario, British Columbia, Alberta, Manitoba.
In the United States: Kentucky, Ohio, Florida, Wisconsin, Nevada, Minnesota, California, Indiana, New Mexico, Texas, Delaware, North Dakota, South Dakota, Alabama, North Carolina, South Carolina, Alaska, Maryland, Maine, New Jersey, Louisiana, Tennessee, Oregon, Missouri, New Hampshire, District of Columbia (Washington, D.C.), Georgia, West Virginia, Idaho.
Regulators in New Zealand (FMA) and the United Kingdom (FSA) also have issued warnings against Profitable Sunrise.
Here’s a sampling of what securities officials are saying:
From the office of David Goodman, director of the Ohio Department of Commerce (italics/bolding added):
The Division is concerned that these businesses could be targeting religious-based organizations. The company’s website includes Bible quotations and options for donating investment returns to charity. The website also describes various investment plans that claim to offer returns between 288% and 648% for investment periods between 180 days and 240 days. The website claims the investments are “risk-free” with “no chance of default” and provides short-term business loans in the United States.
The website also includes apparent traits of a pyramid scheme. It provides details about a “referral program” where individuals can become regional representatives for an investment group. The regional representatives are offered five percent commissions from those who join the referral program under that representative’s name.
From the Florida Office of Financial Regulation (OFR):
To attract interest in its investment offerings, Profitable Sunrise and its sub-companies may be attempting to exploit investors’ religious affinities. The organization is believed to be engaged in a marketing campaign which makes conspicuous use of biblical quotations.
From the Division of Securities at the Wisconsin Department of Financial Institutions (DFI):
Investors in other states were informed that their money would be used to fund short-term loans to businesses and that “all funds deposited with (Profitable Sunrise) are insured against loss” by a leading investment bank. Investors were instructed to wire money to financial institutions in Eastern Europe, including one bank that was located in the Czech Republic.
From the office of Nevada Secretary of State Ross Miller:
Securities officials are also concerned that the company is using a related website for the “Profitable Sunrise Team” to entice people to bring in additional investors for a commission. Secretary Miller cautions Nevada residents that “investment products must be registered or exempt from registration to be sold in Nevada, and generally those selling an investment must be licensed.”
There have also been reports that Profitable Sunrise has directed investors to wire transfer funds to a bank in the Czech Republic. Secretary Miller warns investors that it can be extremely difficult for an investor to recoup funds invested through banks in foreign countries.
From the New Brunswick Securities Commission:
Investors are warned not to send money to an offshore company called Profitable Sunrise, an entity that claims to provide high-yield investments through short-term bridge loans to businesses. The New Brunswick Securities Commission is issuing this warning following similar warnings by several Canadian and American securities regulators.
From the office of Indiana Secretary of State Connie Lawson. (Editor’s note: Indiana officials are describing some of the Profitable Sunrise talking points used to disarm skeptical investors. Scams often trade on patriotic themes and claims that investors are helping drive the economy. The AdSurfDaily Ponzi scheme (and many others) have used similar talking points):
Profitable Sunrise founder, Roman Novak, states that the investment model is based on providing short-term loans to small businesses throughout the United States. Profitable Sunrise makes investments attractive by not only touting risk-free, high returns but also by stating that by helping these United States companies, investors are also helping revitalize the national economy and create more desperately needed jobs in the United States.
From the office of Minnesota Commerce Commissioner Mike Rothman:
Commerce Commissioner Mike Rothman ordered Profitable Sunrise and its operators, Roman Novak and Radoslav Novak, and Minnesotans William Nilsson (a/k/a Chad Nilsson) and Casey Dorian, today to cease and desist from selling securities in the State of Minnesota.
The Minnesota Department of Commerce, in conjunction with 19 jurisdictions throughout the United States and Canada, took coordinated action against Profitable Sunrise, an international entity allegedly operating an internet scheme to defraud investors. The Commerce Department’s investigation found that two individuals in Minnesota, Chad Nilsson and Casey Dorian, were allegedly participating in the investment scheme, currently soliciting investors but are not licensed to sell securities in the state.
(Editor’s Note: When the SEC moved in August against the alleged $600 million Zeek Rewards Ponzi- and pyramid scheme, the state of North Carolina warned about “reload scams.” Chad Nilsson may not have gotten the message, something that’s not unusual in the world of MLM. From WhoIsChadNilsson.com: “Of course we are all waiting patiently for our Zeekler Refunds, but now, in the meanwhile, there is a company out that is better than Zeek Rewards every [sic] was! A six year old company has just launched a new program that is even better. They are paying 2.15 percent daily and you can pull your profit out every day if you want, right from day one. If you were to put $200.00 into this new program, in 170 business days, your money would have grown to $7500.00!)
See this story/comments thread for more info on actions/alerts against Profitable Sunrise.
M. Viktoria Wilson: Source: Michigan Attorney General’s Office.
BULLETIN: A Michigan woman who allegedly hindered an investigation into her on-the-lam husband’s Ponzi scheme has been charged with lying to a police officer during the investigation of a crime, a felony under state law.
M. Viktoria Wilson, 24, of Saginaw, was arrested yesterday by Saginaw Valley State University Police, the office of Michigan Attorney General Bill Schuette said.
Wilson’s husband — Joel Wilson, 30, of Saginaw — fled the United States after his Ponzi scheme was exposed in January.
“Scam artists who defraud Michigan citizens, particularly senior citizens, think they can run but they cannot hide from the law,” said Schuette. “We are working to secure justice for the Michigan victims and families affected by this scam.”
When authorities interviewed M. Viktoria Wilson in January, she lied to them, Schuett’s office said.
From a statement by investigators (italics added):
Beginning in 2009, it is alleged that Mr. Wilson scammed investors through his operation of The Diversified Group Advisory Fund LLC, an investment company. Mr. Wilson allegedly told investors that he would use their funds to purchase distressed properties in the Saginaw area and Bay City areas. The properties would later be refurbished and sold for profit, which would go to investors.
When funds Mr. Wilson collected from the sales of the unregistered securities failed to turn a profit, he allegedly used new investor funds to pay returns to previous investors – the trademark of a Ponzi scheme. In addition, Mr. Wilson allegedly pocketed approximately $47,000 of the investment funds to pay his personal expenses and acquire personal assets.
The following nine charges were filed against Mr. Wilson in Bay City District Court on January 8, 2013:
One count of Continuing Criminal Enterprise (Racketeering), a felony punishable by up to twenty years in prison;
Three counts of Sale of Unregistered Securities, a felony punishable by up to ten years in prison;
One count of Larceny by Conversion ($20,000 or more), a felony punishable by up to ten years in prison;
One count of Larceny by Conversion ($1,000-$20,000), a felony punishable by up to five years in prison; and,
Three counts of Fraudulent Sale of Securities, a felony punishable by up to ten years in prison.
Joel Wilson is expected to surrender, Schuett’s office said.
EDITOR’S NOTE: Ohio now has issued a warning on Profitable Sunrise, saying 15 other states also have issued warnings. Information from Ohio and other states has been added to the Comments thread below . . .
BULLETIN: (UPDATED 2:01 P.M. EDT (U.S.A.)
The state of Kentucky has issued an emergency cease-and-desist order to the Profitable Sunrise HYIP “program,” amid allegations that the purported “opportunity” is selling unregistered securities to residents of the state and that residents themselves — in turn — are doing the same thing to earn commissions.
Profitable Sunrise is trading on Bible prose, according to the Kentucky order. And some residents of the state appear to be offering the “program” to family members and perhaps even investing in the names of loved ones.
The Profitable Sunrise website is offline this morning. There are Ponzi-forum reports that the “program” is changing servers.
Kentucky’s order is directed at purported Profitable Sunrise operators Roman Novak and Radoslav Novak. The company lists an address in the United Kingdom and does business as Inter Reef LTD.
Kentucky’s order was issued by the Department of Financial Institutions. It is dated today. The order also references Nicole Sanders of Louisville, describing her as a possible Profitable Sunrise pitchwoman operating in the state by issuing press releases through a social-networking site. One release viewed by the PP Blog displayed a link to a purported “HYIP Investment Calculator.”
It is somewhat common for HYIP promoters to try to woo prospects with earnings projections. (It happened in Zeek Rewards and AdSurfDaily, for just two examples. ASD was a $119 million Ponzi scheme. Zeek was accused by the SEC in August 2012 of operating a $600 million Ponzi- and pyramid scheme.)
Sanders may be a purported “private group leader” for Profitable Sunrise, according to the Kentucky order.
One of the claims in a news release attributed to Sanders is this (italics added):
Example: If I invest $200.00, over 170 days of my initial investment date without taking $$$$ out (meaning compound on), my investment matures and my PROFIT will be $7,439.66.
Kentucky now has joined North Carolina, which earlier issued a cease-and-desist order to Profitable Sunrise. Alabama has issued a warning about the “program.” So have the Canadian provinces of Alberta, Ontario, British Columbia and Quebec.
Britain’s Financial Services Authority and New Zealand’s Financial Markets Authority also have issued warnings.
The Financial Markets Authority of New Zealand (FMA) has joined regulators in the United States, Canada and the United Kingdom in issuing a warning on the Profitable Sunrise HYIP “program.” New Zealand’s warning also extends to NJF Global Group, which appears to be a Profitable Sunrise recruitment organization operating from the United States. (More below.)
FMA’s announcement described Profitable Sunrise as “illegal,” saying the “program” also is known as ProSun and is being advertised on YouTube by an individual named Robert “Bob” Hughes. The “NJF” initials appear to stand for Profitable Sunrise promoter Nanci Jo Frazer of Ohio. The NJF Global Group now appears to be calling itself “The Global Impact Resource Alliance Group.”
North Carolina regulators said late last month that Profitable Sunrise listed a business address in the United Kingdom and was asking that money be sent by wire to the Czech Republic. Warnings subsequently were issued by the state of Alabama, the Financial Services Authority of the United Kingdom and the Canadian provinces of Alberta, Ontario, British Columbia and Quebec.
At least some of the Profitable Sunrise videos attributed to Hughes appear to have been removed from YouTube or to have been blocked from public access. Google cache (from Feb. 10, 2013) shows that the videos also touted NJF Global Group and positioned Profitable Sunrise as a better option than “Banners Broker.” One of the videos was titled “Income From Profitable Sunrise Blows Away What You Can Make With Banners Broker.” Another was titled “Forget Banners Broker & Make Real Money With Profitable Sunrise & NJF Global Group.”
Like Profitable Sunrise, Banners Broker also is being promoted on well-known Ponzi scheme forums such as TalkGold and MoneyMakerGroup.
There were reports today that Banners Broker has been stripped of its ability to distribute money via MasterCard debit cards. Other Ponzi-board “programs,” including Imperia Invest IBC in 2010, have met similar fates. Imperia was met with a cease-and-desist order from Visa. An action by the SEC to halt Imperia’s operations followed.
Other Profitable Sunrise videos attributed to Hughes made headline appeals to populations in entire countries and had titles such as:
“Our NJF Global Team In Profitable Sunrise Invites Those In New Zealand To Join Us”
“Our Private NJF Global Team In Profitable Sunrise Is Inviting Those In Korea To Join Us”
“Our NJF Global Group In Profitable Sunrise Invites Those From India To Join Our Top Team”
“NJF Global Group / Profitable Sunrise Invites Those In The Philippines To Join Our Private Team”
“NJF Global Group / Profitable Sunrise Invites Those In Thailand To Join Our Amazing Team”
“Our Profitable Sunrise / NJF Global Group Invites Those From Germany To Join Our Team”
“Our NJF Global Group In Profitable Sunrise Invites Those In China To Join Our Amazing Team”
“Our NJF Global Group In Profitable Sunrise Invites Those In Australia To Join Our Team”
“Profitable Sunrise – The 2.7% Daily Long Haul Plan Is Closing Soon”
“Profitable Sunrise – How To Move Money From The Private Plan To The Long Haul Plan”
“Profitable Sunrise & Our NJF Global Group Really Are Helping People To Retire Early”
“The Best Way To Join Profitable Sunrise Is Through Our Private Group – NJF Global Group”
Here is the New Zealand warning, as published March 11 (italics added):
Warning: Beware of offerings of securities made by NJF Global Group and Profitable Sunrise
11 March 2013
The Financial Markets Authority (FMA) warns the public of an illegal offering of securities by Profitable Sunrise (Prosun) and/or NGF Global Group which has been advertised on ‘youtube’ by Mr Robert(Bob)Hughes, also known as Bob Hughes.
It is FMA’s understanding that these entities are operating from the UK and the US.
FMA is concerned that Prosun is illegally offering securities to the public in New Zealand in breach of NZ securities law, and warns New Zealanders not to invest in the above entities.
If you have invested with Profitable Sunrise or NJF Global Group, FMA would like to hear from you. Please contact our helpline on 0800 434 567.
Ronald Wesley Groves and Donald Charles Mann swindled $4.8 million from 642 investors in a bizarre “international bank trades” caper that promised a payout of 4,000 percent. Now, they’ve been sentenced to an extra year in federal prison for filing false liens against a federal prosecutor and two FBI agents involved in the fraud probe, the office of U.S. Attorney Benjamin B. Wagner of the Eastern District of California said.
