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Tag: affinity fraud

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…

Dec 15, 2009
INTRIGUE: Is Our ‘joe’ The Surf’s Up ‘joe?’ Egg-Themed HYIP Pitch Leads To Questions As ASD Members Continue To Promote Programs Associated With Ponzi Model

UPDATED 5:24 P.M. ET (U.S.A.) Is the “joe” who posted here before being blocked for showcasing an utter lack of restraint the same “joe” who pitched four HYIPs on the Pro-AdSurfDaily Surf’s Up forum two days ago? We don’t know. We do know, however, that both “joes” have pushed Ponzi programs and displayed an astonishing…

Dec 5, 2009
‘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…

Nov 21, 2009
BREAKING NEWS: Louisiana Man Indicted In Alleged $20 Million Ponzi Scheme Targeting Senior Citizens; Prosecutors Allege Witness Tampering, Obstruction

UPDATED 9:44 P.M. ET (U.S.A.) A Louisiana man has been charged in a 64-count indictment with operating a $20 million Ponzi scheme that fleeced retirees, federal prosecutors said today. So many fraud counts were filed against Matthew B. Pizzolato that he faces more than 1,100 years in prison if convicted of all of them. As…

Nov 20, 2009
Madoff Displayed Charms Of A Practiced Huckster

Bernard Madoff was charged with securities fraud Dec. 11. The story about the alleged $50 billion Ponzi scheme hasn’t been out of the news since then — not even for a few hours. Over the weekend we reported that the assets of the Elie Wiesel Foundation had been wiped out in the alleged Madoff fraud.…

Dec 29, 2008