Tag: Andy Bowdoin
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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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AdSurfDaily: Bowdoin The Envy Of Con Artists Worldwide
ASD President Andy Bowdoin demonstrated that any person with access to an autosurf script can put tens of millions of dollars on the table if he or she can meet two minimal conditions: the ability to recruit a few key MLM promoters, and the ability to be influenced by MLM promoters who know how to…
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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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2008 Concluded With ‘Ponzi-Equals-Pain’ Message
Dear Readers, Our best to you with the dawning of the new year — and our thanks for making this Blog one of your stopping points. If you have a moment in the coming days, think about leaving a comment that answers this question: What will you remember most about 2008? One of the things…
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Madoff Case Sparks Talk Of ‘Clawbacks’
BLOG UPDATE 2:19 P.M. EST (U.S.A.): La Tribune, a French business newspaper, is reporting that a founder of Access International Advisors, a hedge fund with large sums invested with Bernard Madoff, has been found dead in his New York City office building. Rene-Thierry Magon de la Villehuchet, 65, was found this morning. The French newspaper…
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Ad View Global, New ‘Advertising’ Program, Debuts
This morning we read an early pitch for Ad View Global (AVGlobal), a new “advertising” company that is coming online in the wake of the $100 million government seizure of assets tied to AdSurfDaily Inc. AVGlobal, according to the promoter’s ad we read, is positioning itself as a guarantee against the recession and poor economy.…
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EDITORIAL: $7,260 An Hour: The Dangerous Allure Of Autosurfs
I first learned about Ad Surf Daily and Andy Bowdoin in July, prior to the asset seizure, back when I served as a Moderator at the Warrior Forum. ASD members swore by the company, flocking to the forum in droves when Andy Bowdoin had become a topic of widespread conversation on the Web. Some of…