Tag: ASD
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Secret Service, FBI, IRS Raid Steve Renner’s INetGlobal Operations In Minneapolis; Scene Resembled AdSurfDaily Raid In Florida
UPDATED 10:40 A.M. ET (U.S.A.) Federal and state agents have raided the Minneapolis offices of Inter-Mark Corp., seeking evidence of a Ponzi scheme, the Star Tribune of Minneapolis/St. Paul is reporting. Inter-Mark Corp. is operated by Steve Renner, who also operates a purported “advertising” service known as INetGlobal. In a scene that resembled the August 2008…
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Robert Guenther Named Defendant In Feb. 2 Shareholder Lawsuit That Alleges RICO Violations, Conversion, Unjust Enrichment, Fraudulent Transfer
Robert Guenther and a woman referenced as “Jane Doe” are listed as defendants in a shareholder lawsuit filed Feb. 2 in Arizona by investors in Cheyenne Mountain Games (CMG) and Cheyenne Mountain Entertainment (CME). Guenther is the de facto head of the ASD Members Business Association (ASDMBA), an entity that came to life in the…
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BULLETIN: New Affidavit Filed By Andy Bowdoin Appears To Be At Odds With Claims He Made In September
A sworn affidavit filed today by AdSurfDaily President Andy Bowdoin appears to make claims that are the polar opposite of claims he made in a sworn affidavit witnessed by a notary public and filed in federal court Sept. 15. Separately, Bowdoin’s lawyer, Charles A. Murray, filed a brief that may be the opening volley in…
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Split In Bowdoin/Harris Family? Members Described As ‘Very Much’ Divided; At Least One Family Member Said To Have Contacted Federal Prosecutors
UPDATED 12:01 P.M. ET (U.S.A.) Has the pressure of being challenged on multiple legal fronts led to a split in the extended family of AdSurfDaily President Andy Bowdoin? The depths of any split are unclear, and it is believed that Bowdoin has the continued support of some members of the Bowdoin/Harris family. But interviews conducted…
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TREVOR COOK AND KINGZ’ MURKY WORLD: Did Accused Ponzi Schemer Cook Send $75 Million To Mysterious ‘Investor’ Known Only As ‘Fased?’ Why AdSurfDaily/AdViewGlobal Cheerleaders Should Pay Attention
UPDATED 5:25 P.M. ET (U.S.A.) KINGZ Capital Management Corp. (KCM) might have been used or contemplated for use as a tool in two far-reaching, incredibly elaborate Ponzi schemes, according to an analysis of public records and other information. One of the schemes ultimately appears to have consumed tens of millions of dollars in a squalid…
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BizAdSplash Tanks, Takes Participants’ Money With It, Members Say; Surf Invokes God, Says ‘Party Is Over’ In Sign-Off Note
The Biz Ad Splash (BAS) autosurf has tanked, taking participants’ money with it, members said tonight. Members reported receiving a platitude-filled email from Clarence Busby announcing the surf’s closure. The email, which included a pep talk and invoked God, did not say if, when or how members would be compensated. “Now what about the future?”…
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THE GREAT PONZI PAPER CHASE: Playing Field Spans Globe, Judge Says; SEC Notes Cook/Kiley Banking Ties In Antigua, Europe, Middle East
The ruling by a federal judge yesterday that put alleged Minnesota Ponzi schemer Trevor Cook behind bars until he surrenders tens of millions of dollars in offshore bank accounts includes some interesting details. For one, Cook, accused by the SEC and the CFTC in a $190 million fraud, had access to a bank account in…
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PONZI UNIVERSE: Just How Weird Will It Get? Spammer With Possible ASD Ties Tries To Post News Release In 10 Separate PP Threads; Elsewhere, A ‘Comic Book’ Ponzi Scheme
On a day a federal judge ordered alleged Minnesota Ponzi schemer Trevor Cook jailed — in part for not turning over a two-passenger submarine allegedly purchased on eBay with Ponzi proceeds — the following things happened: A would-be PP Blog poster attempted to post the same news release about AdSurfDaily mainstay “Professor” Patrick Moriarty in…
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PROSECUTORS: ‘Final Action’ In Second ASD Forfeiture Case Not Expected For ‘Several Months’
UPDATED 11:46 A.M. ET (U.S.A.) Final judicial action in the second forfeiture case filed against assets connected to AdSurfDaily “is not expected for at least several months,” federal prosecutors said. The second action was filed in December 2008. It identified family members of ASD President Andy Bowdoin as beneficiaries of a Ponzi, wire-fraud and money-laundering…
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EDITORIAL: Gold Nugget Invest ‘Players’ Create Smokescreen For Failed HYIP; Defend Company On Ponzi Boards, Claiming United States Has No Jurisdiction
EDITOR’S NOTE: Claims often are made that it’s “safe” for U.S. residents to invest in “offshore” opportunities and that offshore enterprises are outside the reach of U.S. regulators and law-enforcement agencies. This column refutes those assertions — and also includes information on Abdul Tawala Ibn Ali Alishtari, also known as “Michael Mixon.” Alishtari operated an…
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ASD ALL OVER AGAIN? Gold Nugget Invest (GNI) Collapse Brings Out The Conspiracy Theorists, Apologists; Theorists Claim Interpol Investigating SEC
EDITOR’S NOTE: Conspiracy theories quickly became part of the AdSurfDaily story after federal agents seized tens of millions of dollars from the company in August 2008 amid Ponzi scheme allegations. Yesterday reports surfaced that Gold Nugget Invest (GNI), a High Yield Income Program (HYIP) positioned as a betting arbitrage, had collapsed. GNI reportedly announced that…