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BULLETIN: (4th Update 9:13 p.m. EDT U.S.A.) Accused Ponzi schemer Paul Burks ran a “pyramid scheme” known as FollowMe1X2 that was a precursor to ZeekRewards, federal prosecutors say. A quote about FollowMe1X2 that appears in a prosecution filing today also appears verbatim in a post on the MoneyMakerGroup Ponzi forum dated Sept. 4, 2010, by “charlieone.” […]

Remember when Simon Stepsys — now with the cross-border MyAdvertisingPays scheme — was pushing the uber-bizarre Banners Broker cross-border scheme? New court filings in Canada by the receiver and liquidators in the Banners Broker case now estimate the total haul of the alleged double-your-money pyramid scam at more than $156 million. That’s up from an […]

“These frauds are easily duplicated, and at times, we find ourselves playing ‘whack-a-mole,’ chasing the same set of fraudsters who, after feeling a bit of heat, simply close down one scheme and quickly set up a new one under a different name.” — Andrew Ceresney, SEC Enforcement Division director, March 2, 2016 EDITOR’S NOTE: Type […]

DEVELOPING STORY: (5th Update 8:18 p.m. ET U.S.A.) MLM attorneys Gerald Nehra and Richard Waak will sign a confession of judgment for a whopping $100 million and acknowledge that Zeek parent Rex Venture Group “in fact operated an unlawful Ponzi and pyramid scheme” under the terms of a settlement agreement with Zeek Rewards’ receiver Kenneth D. Bell, according to new […]

BULLETIN: (14th Update 3:39 p.m. ET U.S.A.) Toronto police have arrested “Banners Broker” figures Christopher George Smith of Toronto and Rajiv Dixit of Vancouver. Both suspects are 45 and are scheduled to make a court appearance today, police said. The scheme allegedly raised $93 million (U.S.). They have been charged with Defrauding the Public of Over […]

As the PP Blog reported nearly a year ago, AdClickXpress (ACX) was a continuation of an absurd scam that began years ago as JSSTripler/JustBeenPaid, with antigovernment zealot and “sovereign citizen” sympathizer Frederick Mann at the helm. Just in time for the 2015 holiday season, there are reports that ACX has suspended payouts or is making […]

Whether you’re an alleged Zeek “winner” or a “loser” hoping the court will force the return of tens of millions of dollars in gains, this is one to bookmark: http://www.zeeknetwinnerclass.com/index It’s the website of J. Kevin Edmundson, the lawyer appointed by the court in essence to defend thousands of alleged Zeek Rewards winners sued by court-appointed […]

Still promoting your securities scam on YouTube? As the PP Blog reported on Oct. 3, YouTube promos for the alleged DFRF Enterprises’ Ponzi scheme were cited in two of three wire-fraud counts against accused operator Daniel Fernandes Rojo Filho. Filho, allegedly at the helm of a fraud that gathered tens of millions of dollars, has […]

EDITORIAL: In April 2015, the PP Blog reported that a promo on YouTube put words in the mouth of President Obama and depicted him as a pitchman for MyAdvertisingPays, a cross-border scheme with  promoters in common with the alleged Zeek Rewards and TelexFree Ponzi- and pyramid schemes. “My AdvertisingPays pays its members every 20 minutes,” a mimicked […]

In October 2014, federal prosecutors alleged that the Zeek Rewards MLM “program” shut down by the SEC two years earlier was in part a scam that caused “victim-investors to file inaccurate tax returns for phantom income they never actually received.” Now, a year later, a member of the TelexFree MLM scheme shut down by the […]

URGENT >> BULLETIN >> MOVING:  (7th Update 8:33 p.m. EDT U.S.A.) The court-appointed receiver in the Zeek Rewards Ponzi- and pyramid-scheme case has sued MLM attorney Gerald Nehra and his law firm and law partner. Named defendants are Nehra as an individual and as a member of the Nehra and Waak law firm of Michigan, […]