Tag: AdSurfDaily
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SHOCKING: A Ponzi Scheme Suicide In Canada; A Ponzi Scheme Death Sentence Reported In China
EDITOR’S NOTE: Here is some recommended reading. Be prepared to be shocked. We will provide an introduction to the stories, but only a brief one. Edna Coulic killed herself, worn down by the pressures of trying to get her money back from a Ponzi scheme, her family told the Calgary Herald. The Royal Canadian Mounted…
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FEDS: Man Bilked $10 Million In Ponzi Scheme That Traded On Name Of The Famous NASCAR Brand
Even as stock-car fans were celebrating the news that Indy-car driving star Danica Patrick would hopscotch circuits and participate in a limited number of events in NASCAR’s Nationwide Series next year, federal prosecutors were putting together a Ponzi scheme case against a man alleged to have obtained $10 million by using NASCAR’s name. Eliott Jay…
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BREAKING NEWS: FBI Tells Senate Judiciary Committee It Is Probing 314 HYIP Schemes Only Months After ASD Members Asked Panel To Probe Prosecutors
And to think that only months ago — in February 2009 — various members of AdSurfDaily wrote to the Senate Judiciary Committee trying to elicit support for Ponzi schemes. The letter-writing campaign was spearheaded by “Professor” Patrick Moriarty and pushed by the Pro-AdSurfDaily Surf’s Up forum. But now the FBI has told the committee, led…
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Ponzi Suspect to Judge, ‘Jail Me’; Judge To Ponzi Suspect, ‘OK’; Minnesota’s Gerard Frank Cellette Jr. Booked Into Hennepin County Jail On 36 Felony Counts
Gerard Frank Cellette Jr. was implicated by prosecutors in an alleged $53 million Ponzi scheme in Minnesota last month. Cellette, 44, of Andover, Minn., asked a judge to jail him yesterday — and the judge granted his wish. Cellette now is Inmate No. 2009034708 in the Hennepin County Sheriff’s Jail. He was charged Nov. 5…
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Madoff Confessed Ponzi Scheme Year Ago Today; AdViewGlobal Prepared Ponzi Roll-Out Even As Stunned Public Watched Madoff Spectacle Unfold
One year ago today Bernard Madoff uttered a memorable phrase, describing his securities business economically as “one big lie” — and his Ponzi house of cards came tumbling down. Even as Madoff was uttering those three words to his sons and the FBI soon was to knock on his door, the insiders behind the AdViewGlobal…
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AdViewGlobal Recording Suggests Member Cashed Out $10,000 Only Days After Formal Launch And That Insiders Were Awarded Bonuses; Less Than Two Weeks Later, Surf Switched To ‘Private Association’ Structure
UPDATED 7:19 P.M. ET (U.S.A.) A recording posted on a public website of a Feb. 12 conference call by the AdViewGlobal (AVG) autosurf suggests an unnamed male member of the surf qualified for a $10,000 cashout within days of the company’s formal launch. The recording leads to questions about how a participant could qualify for…
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‘Egg’-Themed HYIP Domains Pitched By Surf’s Up Poster Registered In Last Name Of Man Dubbed A ‘Co-Conspirator’ In Scheme To Defraud Prepaid Wireless Company; Government Of Belize Issued Warning About HYIP Site
UPDATED 2:22 P.M. ET (U.S.A.) A poster using the handle “joe” at the Pro-AdSurfDaily Surf’s Up forum advertised four egg-themed domain names that redirected to four high-yield investment programs yesterday, saying in all-caps, “ALL MY EGGS ARE NOT IN ONE BASKET. “I MAKE $2000.00 A WEEK.” It is unclear if the poster has a license to…
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Michigan Man Who Claimed Investment Returns Of 131 Percent Guilty In Ponzi Scheme Case; Mark Richard Hamlin’s Day-Trading Scheme Comparable To ASD’s Dangerous ’80/20′ Reinvestment Program
As Ponzi schemes go, it was far from the largest. But the case of Mark Richard Hamlin demonstrated that even smaller operators use Ponzi schemes to fuel personal spending that consumes an extraordinary percentage of investors’ funds. Hamlin’s day-trading scheme in Michigan gathered about $2 million from at least 90 investors between 2005 and 2008,…
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ASD ALL OVER AGAIN? ‘3 Hebrew Boys’ Accuse U.S. Attorney Of ‘Treason’; Claim Draws Another Parallel To AdSurfDaily
Three men found guilty in South Carolina last week of operating an $82 million Ponzi scheme accused a federal prosecutor of treason on the same day the jury returned its verdict, the FBI said. A treason claim also was made in the federal forfeiture proceeding against assets tied to Florida-based AdSurfDaily, an alleged Ponzi scheme…
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‘3 Hebrew Boys’ Guilty In $82 Million Ponzi/Affinity Fraud Scheme; Company Operated In Fashion Similar To AdViewGlobal Autosurf, Imploring Members To Maintain Secrecy
In yet another case that may cause widespread unease in the autosurf world, three men accused of defrauding participants in a bogus debt-relief “ministry” have been found guilty of 174 counts of mail fraud, money-laundering and transporting stolen goods. Parts of the case against “3 Hebrew Boys” were remarkably similar to events engulfing the AdSurfDaily…
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BREAKING NEWS: Judge Suggests ASD Forfeiture Could Occur Before Christmas; Finds Bowdoin ‘Knowingly And Voluntarily’ Released Claims To $65.8 Million
Will the August 2008 forfeiture case against $65.8 million in the personal bank accounts of AdSurfDaily President Andy Bowdoin end before Christmas? A federal judge suggested today that it might. Bowdoin, 74, knew what he was doing when he submitted in January 2009 to the forfeiture of the cash and “knowingly and voluntarily” agreed never…