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Tag: MoneyMakerGroup

REPORTS: Ice Cream Flavor Named After TelexFree, An Alleged Pyramid Scheme; Separately, TelexFree Affiliates May Be Crossing National Borders To Keep The Money Flowing — Even As Purported Opportunity Turns To New Payment Method

The HYIP world is known for promoters’ bids to change the storyline, but this one may take the cake — or at least be a sweet complement. There are reports in Brazilian media that a promoter of the TelexFree MLM scheme — alleged to be a massive pyramid — has named an ice cream after…

Aug 21, 2013
**[UNCONFIRMED]** Report In Brazil Says Prosecutors Have Asked U.S. Court To Block TelexFree Accounts, New Signups **[UNCONFIRMED]**

**[UNCONFIRMED]** A report in Brazilian media translated by Google Translate from Portuguese to English says that prosecutors in Brazil have asked a U.S. court to prevent new members from joining TelexFree and to block the accounts of TelexFree figures Carlos Wanzeler, James Merrill, Carlos Costa and Lyvia Wanzeler. The PP Blog could not immediately confirm…

Aug 12, 2013
URGENT >> BULLETIN >> MOVING: Legisi HYIP Operator Gregory McKnight Sentenced To More Than 15 Years In Federal Prison

URGENT >> BULLETIN >> MOVING: Gregory N. McKnight, the operator of the $72 million Legisi HYIP Ponzi scheme popularized in part on the TalkGold and MoneyMakerGroup forums, has been sentenced to 188 months in federal prison for wire fraud and ordered to pay more than $48.9 million in restitution. McKnight also was ordered to serve…

Aug 6, 2013
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
BIZARRE: ‘Program’ Dubbed ‘CashCropCycler’ Has Ponzi-Board Presence And Zeek Pitchman While Touting Payouts Through PerfectMoney, SolidTrustPay And EgoPay — And Saying It Provides JSSTripler-Like Signup Bonus Of $10

A “program” with the bizarre name of “CashCropCycler” (Triple C) is being pushed on the Ponzi forums, amid claims it issues cashouts through offshore payment processors linked to fraud scheme after fraud scheme and gives enrollees $10 just for signing up. An earlier HYIP scam known as JSSTripler/JustBeenPaid that appears to have morphed into at…

Jul 16, 2013
Full Statement Of SEC On Criminal Conviction, Restitution Order And Civil Liability Of ‘Serial’ HYIP Ponzi Pitchman Matthew J. Gagnon

EDITOR’S NOTE: As the PP Blog reported Wednesday, HYIP Ponzi-scheme pitchman Matthew John Gagnon has been sentenced to five years in federal prison. On Thursday, the SEC released the statement reproduced below. Here’s hoping it will be the shot heard around the HYIP Ponzi World. Still pushing HYIPs on your websites and social-media sites, in…

Jul 12, 2013
URGENT >> BULLETIN >> MOVING: Legisi HYIP Ponzi Pitchman Sentenced To 60 Months In Federal Prison, Ordered To Pay $4.4 Million In Restitution

URGENT >> BULLETIN >> MOVING: Legisi HYIP Ponzi-scheme pitchman Matthew John Gagnon has been sentenced to 60 months in federal prison, ordered to pay $4.4 million in restitution and further ordered to serve three years’ supervised probation after his prison release, the office of U.S. Attorney Barbara L. McQuade of the Eastern District of Michigan…

Jul 10, 2013
REPORT: TelexFree Diverted $88 Million After Brazilian Judge Blocked Payments

UPDATED 1:04 P.M. (JULY 5, U.S.A.) Quoting a prosecutor, the website of iG — a Brazilian communications provider — is reporting that the TelexFree MLM “program” allegedly diverted $88 million after a judge in the state of Acre blocked payments as a pyramid-scheme probe got under way last month. TelexFree also operates in the United…

Jul 3, 2013
Law Firm’s Name Used In Bid To Dupe Members Of Banners Broker, Profit Clicking, MLM Attorney Says

UPDATED 11:28 P.M. EDT (U.S.A.) Scammers have used the names of government agencies and famous businesses in bids to dupe the public. Now, the name of a well-known MLM law firm appears to have been used for the same purpose. Attorney Kevin Thompson published a Blog post today that warns of a bogus Banners Broker/Profit…

Jul 2, 2013
URGENT >> BULLETIN >> MOVING: Threshold Dollar Number For Zeek Rewards’ Net Winners To Avoid Receivership Litigation Now Public; At Least 136 Settlement Agreements Ironed Out, Receiver Says

URGENT >> BULLETIN >> MOVING: (UPDATED 8:05 P.M. EDT U.S.A.) From the standpoint of avoiding financial accountability, it may have become more difficult for serial scammers who foist HYIP scams on the international public to thumb their noses at law enforcement and the courts. The court-appointed receiver in the Zeek Rewards Ponzi scheme case has…

Jun 29, 2013
BULLETIN: SEC Backs Legisi Receiver’s Bid To Pursue E-Bullion Cash

BULLETIN: The SEC has asked a federal judge to permit the receiver in the Legisi HYIP Ponzi-scheme case to pursue funds tied up after the arrest of James Fayed, the operator of the e-Bullion payment processor. Fayed was convicted in 2011 of ordering the murder of his wife, a potential witness against him. Pamela Fayed…

Jun 24, 2013