Tag: Kenneth D. Bell
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BULLETIN: Zeek Mystery Deepens: Receiver Says He Discovered ‘Foreign’ Account That Has NOT Been Seized; Meanwhile, $5 Million In Cashier’s Checks From Single U.S. Bank Found At Zeek Headquarters; Firm’s Records Described As ‘Inadequate Or Incomplete’; Secret Service Has Recovered Lion’s Share Of $293 Million Found So Far
BULLETIN: (5TH UPDATE 6:13 P.M. EDT) The court-appointed receiver in the Zeek Rewards Ponzi scheme case says he discovered that Zeek has “at least one foreign account” that has not been seized. It was “not clear” whether the funds would be recoverable despite the fact the bank that holds the account has been served with…
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2 Attorneys Have Filed Court Notices For Robert Craddock’s Fun Club USA ‘And Other Entities Whose Assets Were Seized,’ According To Zeek Docket
UPDATED 7:58 P.M. EDT (U.S.A.) The mystery of precisely who would represent Zeek Rewards figure Robert Craddock in a bid to intervene in the Zeek Ponzi scheme case may be over. Attorney Rodney E. Alexander of Charlotte has filed an appearance notice for Fun Club USA Inc., Craddock’s Florida business that raised funds for a…
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ZEEK UPDATE: Thousands Of Records Filed Under Seal
UPDATED 4:20 P.M. EDT (U.S.A.) Attorneys for accused Ponzi schemer Paul R. Burks of the Zeek Rewards MLM “program” operated through North Carolina-based Rex Venture Group LLC have filed thousands of records under seal. On Sept. 17, Burks’ attorneys sought the approval of Senior U.S. District Judge Graham C. Mullen to file the documents under…
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William J. Wise, International ‘Mastermind’ Of $129.5 Million Ponzi Fraud Involving CDs, Pleads Guilty To 18 Felonies; Top U.S. Attorney Says Federal Prosecutors ‘Around The Country’ Have Identified ‘Unprecedented Rise’ In Investment Fraud Schemes With ‘Staggering Losses’
“The fraudsters prey upon vulnerable victims, do not respect local or even state boundaries, and often loot the victims’ life savings.” — Melinda Haag, U.S. Attorney for the Northern District of California, Sept. 13, 2012 It featured confidence-boosting names: Millennium Bank, United Trust of Switzerland and Sterling Bank and Trust. But it was a cross-border…
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DEVELOPING STORY: Zeek Receiver Says He Has Secured Nearly $300 Million; ‘There May Be Tens Of Millions Of Dollars More Of Recoverable Assets’; Clawbacks May Be In The Offing As Receiver Raises Specter Of Claimants Circulating ‘False Information’
Kenneth D. Bell, the court-appointed receiver in the Zeek Rewards Ponzi scheme case, said in a statement today that he had recovered nearly $300 million and that “[t]here may be tens of millions of dollars more of recoverable assets.” On Aug. 17, the SEC described Zeek as a $600 million Ponzi- and pyramid scheme that…
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UPDATE: Zeek Case Gets Top Billing On SEC Website Today; Agency Establishes Information Page
Information for victims of the alleged Zeek Rewards Ponzi scheme is getting top billing on the SEC’s website today, and the agency has established a webpage for Zeek victims. Here is that page, which includes a link to the website of the court-appointed receiver. Kenneth D. Bell is filling that role. Visit the receiver’s website.…
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Zeek Operator Paul R. Burks Was Cooperating With SEC Prior To Date Of Ponzi Complaint, New Filing Suggests
Paul R. Burks, the operator of Zeek Rewards, was cooperating with the SEC prior to the filing of the Aug. 17 complaint that alleged Zeek was a $600 million Ponzi scheme and pyramid fraud, a new court filing suggests. That “period of cooperation” resulted in the production of “hundreds of thousands of documents, including financial…