Tag: AdSurfDaily
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BREAKING NEWS: Natures Discount Drops RICO Lawsuit Against Bowdoin, Busby, Garner
Natures Discount, a former AdSurfDaily advertiser, has dropped a racketeering lawsuit it brought in November against ASD President Andy Bowdoin, Golden Panda President Clarence Busby, and Robert Garner, an attorney who appeared in a video touting ASD’s legality. Bank of America also was named a defendant in the Natures Discount complaint, though not as a…
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MegaLido: Is There An ‘Instant2U.com’ Tie?
In the weeks following the seizure of cash and property linked to AdSurfDaily Inc., some former members of ASD turned their attention to promoting MegaLido. MegaLido was pushed as a safe, offshore alternative to ASD and Golden Panda, and a way to make up ASD/Golden Panda losses that stemmed from the government seizure of cash…
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Bowdoin, Nadel Cases Have Striking Parallels
Some of the parallels between the alleged AdSurfDaily Ponzi scheme and the alleged financial misdeeds of Florida hedge-fund manager Arthur Nadel are striking. Two obvious parallels are the common Florida venue and the ages of the principals. ASD operated out of Quincy; Nadel out of Sarasota. ASD President Andy Bowdoin is 74; Nadel is 76.…
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ASD: Spending Spree Coincided With 2-for-1 Las Vegas Rally
Less than two weeks after a May 31 AdSurfDaily rally concluded in Las Vegas, ASD funds were used to retire a $157,000 mortgage. Another $62,000 was used to purchase two cars — a 2008 Honda CRV and a 2009 Acura, federal prosecutors said. The beneficiaries of the mortgage retirement and the Honda were George and…
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Follow-Up: No Autosurf Cure For Struggling Newspapers
Our site has been serving more pages, fueled in large measure by readers’ interest in the AdSurfDaily case and our reports on Ponzi fraud and securities fraud. We got a mention in the Seattle Post-Intelligencer last week (and later on Google News, which picked up the P-I column) in response to our column on whether…
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Prosecutors: Bowdoin Knew ASD Was Illegal Prior To Rallies That Collected Tens Of Millions Of Dollars
Andy Bowdoin knew AdSurfDaily was illegal in 2007, months before the company conducted rallies in major U.S. cities and collected tens of millions of dollars from members, according to court documents. Instead of becoming legally compliant, Bowdoin introduced new layers of deception in 2008, prosecutors said. Included in the deception was a video made in…
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Breaking News: More ASD-Connected Assets Seized; Bowdoin Blamed Company Troubles On Russian Hackers
Federal prosecutors quietly went to court last month, filing a second forfeiture complaint against assets tied to AdSurfDaily Inc. The complaint paints a jaw-dropping picture of insider dealings, special favors, a “silent” ASD partner, people getting paid large sums for doing virtually nothing — and a claim that Russian hackers broke into ASD’s servers and…
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Ad Surf Daily Surrenders; Bowdoin Removes Claim To Tens Of Millions Of Dollars As Autosurf Ponzi Members Grumble
BREAKING NEWS (UPDATED 9:03 P.M) Dogged by the government since August and a loser in early skirmishes with prosecutors, AdSurfDaily has done what it said it wouldn’t do: surrendered claims to tens of millions of dollars seized by the Secret Service in a Ponzi scheme investigation. Lawyers for ASD President Andy Bowdoin have filed a…
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Roster: Are These Autosurfs In Litigation? Troubled?
Back in August we began to cover AdSurfDaily Inc., a Florida company accused of being an illegal enterprise. Federal prosecutors said ASD, an autosurf, was selling unregistered securities by calling itself an “advertising” company and running a $100 million Ponzi scheme. A sister site, LaFuenteDinero, was named in the same federal forfeiture complaint. So was…
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CEP Receiver Settles With 14 Ponzi Scheme Participants
The receiver in the CEP Ponzi scheme case has filed court papers to settle adversary proceedings against 14 participants who profited in the scam. In court since July 2007, the case is not fully settled. Litigation against other participants is ongoing. Dozens of lawsuits were filed against CEP members. Settlement terms for the group of…
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AdViewGlobal, AdGateWorld Brands Leveraged To Sell Cash-Gifting, Other Programs; Pitches Also Use Tony Robbins’ Name
It’s hard to imagine that motivational speaker Anthony Robbins would be pleased to learn his carefully cultivated brand name is being leveraged to sell highly questionable online-income opportunities such as cash-gifting programs. Robbins, however, has company — and it’s the sort of company that adds an extra layer of dubiousness to the drip-drop dilution of…