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Tag: Cash Cards International

LETTER TO READERS: Reflections On 1,000 PP Blog Posts, The Lionization Of Fools And An Unprecedented Crime Wave That Threatens National Security And Is Filling Stadiums With Victims

Dear Readers, This is actually Post No. 1,007 since the PP Blog switched to the WordPress platform two years ago this month. We’d hoped to commemorate our 1,000th WordPress post in the actual 1,000th post, but missed the chance because of Breaking News concerning the Financial Fraud Enforcement Task Force’s Operation Broken Trust. Several hours…

Dec 12, 2010
BULLETIN: Company That Did Business With Steve Renner’s Cash Cards International Charged In Massive Forex Swindle; Case Against MXBK Group S.A. De CV Grew Out Of Cooperative Probe Among SEC, CFTC, FBI And IRS; SEC Charges Pitchmen With Blindly Promoting Scam, Even After Collapse

BULLETIN: UPDATED 9:18 A.M. ET (U.S.A., DEC. 8.) A Mexican company listed as a customer of Steve Renner’s Cash Cards International (CCI) in a 2005 scam known as MegaFund now has been charged by the CFTC with running a massive Forex fraud scheme that gathered at least $28 million from more than 800 U.S. customers.…

Dec 7, 2010
Prosecution, INetGlobal Strike Interim Agreement That Frees Money To Pay Employees, Insurance Under Court Supervision

UPDATED 6:14 P.M. ET (U.S.A., JAN. 20, 2011.) Employees of an Internet company under federal investigation amid allegations it was operating a Ponzi scheme have received some good news: a sum of $125,000 has been released to pay their past-due salaries and $25,000 has been released to pay their past-due healthcare benefits. Meanwhile, $200,000 per…

Jun 20, 2010
KABOOM! Alleged Commodities Ponzi Scheme Run By Mexican Nationals On U.S. Soil Dumped Money Into TWO Other Failed HYIP Fraud Schemes, Investigators Say; Ruben Gonzalez, Jose C. Naranjo Charged By CFTC

UPDATED 10:17 A.M. EDT (May 25, U.S.A.) It has been another nasty day for the HYIP and autosurf “industries” and their apologists. Investigators have charged two Mexican nationals with operating a Ponzi scheme on U.S. soil. The alleged scheme, which used names such as New Golden Investment Group LLC (NGI), NGI Group LLC, New Golden…

May 24, 2010
KABOOM! Agents Tie Alleged ‘Evolution Market Group’ Ponzi And HYIP Fraud Scheme To Narcotics Case In Arizona; Tens Of Millions Of Dollars Seized; Firms Promoted On ASA Monitor, TalkGold Forums

Kaboom! It has happened again. Explosive court filings by the government show that kneejerk apologists and defenders of High Yield Investment Programs (HYIPs) and autosurfs are quickly running out of cover when they assert that anything is noble or even real about the programs they relentlessly push for their share of purported profits from introducing…

May 16, 2010
BULLETIN: Steve Renner, Operator Of INetGlobal Autosurf, Sentenced To 18 Months In Federal Prison In Tax Case Tied To His Money-Services Business

UPDATED 6:57 P.M. EDT (U.S.A.) The operator of the INetGlobal autosurf has been sentenced to 18 months in federal prison for income-tax evasion. Steve Renner also was ordered by U.S. District Judge Donovan Frank to cooperate with the IRS “in the assessment and payment of taxes still due,” federal prosecutors said. Renner was convicted in…

May 5, 2010
No Stranger To Controversy, Donald Allen Says He Is Cooperating With Secret Service In INetGlobal Probe And Has ‘One Hell Of A Story’ To Tell

UPDATED 6:08 P.M. ET (U.S.A. JAN. 20, 2011.) EDITOR’S NOTE: The story below includes an assertion by Donald Allen that his IBNN.org website was knocked offline Sunday by a company with ties to INetGlobal. Moments before the story was set for publication, the IBNN website returned. The story does not reflect this later event, and…

Apr 27, 2010
Spokesman For Renner-Related Company Did Not Disclose Tie In Opinion Piece That Attacked Star-Tribune Newspaper; Name Is Referenced In Secret Service Affidavit; Declines To Answer Questions From PP Blog

UPDATED 2:25 P.M. ET (March 2, U.S.A.) The vice president and director of public relations for V-Newswire — a company in Steve Renner’s INetGlobal family — authored an opinion piece lambasting a Minnesota newspaper’s coverage of a Secret Service raid at INetGlobal’s Minneapolis offices last week on his personal Blog, but did not disclose his…

Mar 1, 2010
SECRET SERVICE: INetGlobal Forced Members To Keep Money In The Company With ‘Automatic Repurchasing’ Scheme; Undercover Agent Sent Email To Support, Which Verified Repurchase Was Mandatory

UPDATED 11:07 A.M. ET (U.S.A.) One of the undercover Secret Service agents who joined INetGlobal discovered that the company had implemented an “automatic repurchasing” program by default and that the program could not be switched off, thus distancing participants — many of whom may not have understood English — from their money. Although it is…

Feb 26, 2010