Gold Nugget Invest

If TelexFree, WCM777 and Wings Network were not enough, the office of Massachusetts Commonwealth Secretary William Galvin now is investigating the “EmGoldEx” program. The Boston Globe broke the story this morning. Galvin leads the Massachusetts Securities Division. From the Globe (italics added): Secretary of State William F. Galvin’s office is investigating the Andover operation of […]

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 […]

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 […]

“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 […]

Four egg-themed domain names used to drive business to HYIPs that ended in spectacular flameouts and foreshadowed a warning from the Financial Industry Regulatory Authority (FINRA) have gone missing. The domains — including one that redirected to an HYIP site known bizarrely as Cash Tanker, which used an image of Jesus Christ to promote a […]

A man has been indicted in Las Vegas for stealing nearly $1 million from investors by telling them they were participating in a “sports arbitrage” betting program and could not lose, federal prosecutors said. An arrest warrant has been issued for Yul Na. He was charged in a criminal indictment with 30 counts of wire […]

The new year is starting out like the year that just passed. Banks are failing, unemployment is high, money is not trickling down to small businesses that need capital to expand and create new jobs — and the Ponzi pimps are still putting lipstick on pigs, pushing autosurfs and HYIPs and cheerleading for them even […]

EDITOR’S NOTE: This list summarizes several programs pushed by members of AdSurfDaily, a Florida company implicated in an alleged $100 million Ponzi scheme. In some cases, the programs were pushed prior to the seizure by the U.S. Secret Service in August 2008 of 15 bank accounts linked to ASD or Golden Panda Ad Builder, one […]

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 […]