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Tag: DrDave

FEDS: Liberty Reserve Figure Mark Marmilev Shilled On TalkGold Ponzi Forum And Also Hired Shills To Do So; Memo Speaks To Vast Wasteland Of Online Criminality

Mark Marmilev, the technology specialist for the cross-border Liberty Reserve money-laundering operation favored by HYIP scammers and other criminals before its May 2013 collapse, shilled on the TalkGold Ponzi forum, U.S. federal prosecutors said in a sentencing memo. Marmilev, 35, of Brooklyn, N.Y., also hired forum shills and separately tried to hatch an SEO scheme…

Dec 13, 2014
HourlyRevShare, Another ‘Ken Russo’ Ponzi-Board ‘Program,’ Reportedly DOA

HourlyRevShare, another in a long list of incongruous HYIP Ponzi-board “programs” pushed by serial huckster “Ken Russo” (also known as “DRdave”), reportedly has collapsed after taking a second bite of the Ponzi apple (purportedly as HRS II) after the original iteration collapsed. Other recent “programs” pushed by “Ken Russo” include Zeek Rewards and Profitable Sunrise,…

Jul 22, 2013
‘Felmina Alliance,’ Another Ponzi-Board ‘Program’ Pushed By ‘Ken Russo,’ Appears To Be DOA

Felmina Alliance, another in a long line of HYIP “programs” pushed on the Ponzi boards by serial huckster “Ken Russo,” appears to be DOA. “Ken Russo” also is known as “DRdave.” His record in promoting scams, pooh-poohing or ignoring regulatory actions and engaging in willful blindness may be unparalleled. Regulators in the United States and…

Jun 4, 2013
‘NewGNI,’ Apparent Knockoff HYIP Scam Promoted By Zeek And ‘Profitable Sunrise’ Cheerleader ‘Ken Russo,’ Appears To Have Collapsed

The website of “NewGNI” has not resolved to a server for days. The “program” is believed to have been a knockoff of a predecessor scam known as “GNI” or GoldNuggetInvest, which collapsed in early 2010 after being promoted by members of the AdSurfDaily Ponzi scheme. The collapse of the original GNI was about as bizarre…

Mar 3, 2013
On Date Of Obama Inauguration, ‘Program’ Promo Turns President Into Pitchman For ‘Ultimate Power Profits’

UPDATED 11:08 A.M. ET (U.S.A.) On a day Americans cherish as a great symbol of the continuation of Democracy, images of their President are being used to create the impression he has endorsed a “program” HYIP hucksters sought to popularize in the aftermath of the August 2012 collapse of the Zeek Rewards “program” amid SEC…

Jan 21, 2013
$250 Million-Plus Ponzi ‘Arbitrage’ Scheme In South Africa Allegedly Led To Murder/Suicide; A ‘Tangled Web Of Close Corporations, Trusts And Offshore Bank Accounts’

MoneyWeb has the story of Relative Value Arbitrage Fund (RVAF), an alleged massive Ponzi scheme in South Africa in which Herman Pretorius shot and killed a business partner in July and then shot and killed himself. The scheme appears to have gathered R2.2bn, the equivalent of more than $250 million (U.S.). From Julius Cobbett at…

Oct 16, 2012
UPDATE: Teetering ‘Wealth4AllTeam’ Scheme Reportedly Was Using I-Payout, Same Facilitator Cited By ‘OneX’ Scheme In July

UPDATE: Wealth4AllTeam, one of the many HYIP schemes pushed by Zeek Rewards “I Got Paid” cheerleader “Ken Russo,” reportedly was using I-Payout as a payment facilitator, according to new Ponzi-forum reports. Wealth4AllTeam appears to have suspended operations, leaving the Ponzi forums in an uproar amid claims that it is transitioning to a new business model…

Sep 13, 2012
Wealth4AllTeam, ‘Program’ Pushed By Zeek ‘I Got Paid’ Cheerleader ‘Ken Russo,’ Appears To Have Suspended Operations

There are Ponzi-forum reports today that “Wealth4AllTeam” has suspended operations. Wealth4AllTeam was a “program” pushed by legendary Ponzi-forum huckster “Ken Russo,” also known as “DRdave.” “Ken Russo” regularly made “I Got Paid” posts for Zeek Rewards on the TalkGold Ponzi forum. He also led cheers for Club Asteria, a “program” that encountered trouble from CONSOB,…

Sep 12, 2012
UPDATES: (1) HYIP Huckster ‘Dave’ Launches New Scams, Says He’s Gearing Up For ‘Auction’ Business; (2) BidsThatGive ‘Auction’ Site Says It Will Launch Tomorrow; (3) Zeek ‘Auction’ Business Names New Officers — And Affiliates Make ‘I Got Paid’ Posts As Purported Earnings Calculator Appears On Ponzi Forum

EDITOR’S NOTE: In Ponzi Land, HYIPs that suggested returns of 1 percent (or more) per day “worked” to line up lambs for the slaughter. So did autosurfs that planted the 1 percent a day (or more) seed. Now, 1 percent a day (or more) “auction” sites are “working.” Will they mushroom globally like HYIPs and…

Jul 31, 2012
EDITORIAL: Randy Schroeder Of Mona Vie Emerges As Zeek Critic And Asks MLMers To Open Their Eyes; Troy Dooly Takes Him To The Woodshed — And Plants Seed Zeek May Sue; JSS Tripler/JustBeenPaid ‘Defender’ ‘MoneyMakingBrain’ Dials Up Bizarre Intimidation Campaign, Plants Seed Frederick Mann May Sue

“It’s gonna blow up; it’s gonna be an ugly blow-up. It’ll probably happen sooner, not later. And it will leave a trail of devastation behind it. And I urge you to not even consider them.” — Comment on Zeek Rewards by Randy Schroeder, president of North America and Europe for Mona Vie, July 16, 2012 UPDATED…

Jul 22, 2012
JSS Tripler 2 (T2) Creates Another Bizarre Ponzi-Land Spectacle; Purported Operator Purportedly Takes Off For Thailand After Threatening Purported One-Time Business Partner In Wake Of Purported AlertPay Freeze

Online huckster “Ken Russo,” also known as “DRdave,” appears once again to have backed an HYIP fraud scheme and recruited a downline into a Ponzi morass. This one is known as JSS Tripler 2 — T2 for shorthand — and the backstory is just plain bizarre. Several cross-border crimes punishable by jail time already may…

Jan 9, 2012