DrDave

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 […]

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, […]

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 […]

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 […]

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 […]

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 […]

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 […]

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, […]

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 […]

“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 […]

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 […]