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Tag: Profitable Sunrise warnings

  • Now, Boat-Sharking For ‘Biwako Bank Limited’: Promos Appear On Facebook Site For Profitable Sunrise And Claim Enterprise Is ‘Japan’s Strongest Bank’

    In 2010, FINRA warned that scammers may provide a "Typo Tip-Off." An enterprise whose affiliates are targeting victims of the alleged Profitable Sunrise pyramid scheme says it is trying to attract "costumers."
    In 2010, FINRA warned that HYIP scammers may provide a “Typo Tip-Off.”  In 2013, an enterprise whose affiliates are targeting victims of the alleged Profitable Sunrise pyramid scheme says it is trying to attract “costumers.”

    Biwako Bank Limited caught our attention yesterday after a boat-shark appeared on a Facebook Profitable Sunrise site to promote it while making this claim: “**THIS IS NOT AN HYIP , THIS IS A BANK**”

    The claim is at odds with a claim on the MoneyMakerGroup Ponzi forum that Biwako has a “GoldCoders’ HYIP Manager License.”

    Regulators have warned for years that internal inconsistencies are one of the hallmarks of HYIP fraud. In 2010, the Financial Industry Regulatory Authority (FINRA) noted that HYIP scammers also often present a “Typo Tip-Off.”

    “Watch out for online postings, website copy or emails that are riddled with typos and poor grammar,” FINRA said. “This is often a tip-off that scammers are at work.”

    Now, with Profitable Sunrise apparently dead in the water after actions by the SEC and numerous state and provincial regulators in the United States and Canada over the past two months, Biwako is informing prospects in a video playing on its website that the enterprise exists to connect “costumers” to new opportunities. It also claims that compounding is “avaliable.”

    Meanwhile, it publishes an investment calculator and appears to imply an association with CNN and Time magazine.

    And despite a Facebook boat-shark’s claim that Biwako is not an HYIP, the website of the purported “opportunity” lists four color-coded “plans” that purport to provide daily payouts of between 1.95 percent and 3.05 percent.  The highest-paying plan — the “Red Plan” at 3.05 percent a day — advertises a percentage even higher than the purported “Long Haul” plan of Profitable Sunrise.

    The “Long Haul” plan claimed to pay 2.7 percent a day.

    Earlier this month, North Carolina issued a warning about “reload scams” aimed at Profitable Sunrise victims.

    Like Profitable Sunrise, Biwako also is being promoted on the Ponzi boards.

    Also see March 27 PP Blog story about Facebook boat-sharking and March 31 story. (The March 31 story reports that promotions for a “program” known as TelexFree claim participants can purchase an income that varies by the amount they invest. Under one scenario outlined in a video, participants who send in $15,125 purportedly are buying an income of $1,100 a week for a year.)

    The TelexFree pitch was similar to pitches for the infamous World Marketing Direct Selling (WMDS) and OneUniverseOnline (1UOL) pyramid schemes, which were exposed in 2005 and operated by James Bunchan and Seng Tan. Those scams resulted in federal prison sentences for both Bunchan and Tan.

     

  • WTOL Introduces Middle America To The Profitable Sunrise HYIP Scheme; Graphic Shows 3-Tiered Affiliate Program On Top Of Absurd Payout

    From the WTOL report.
    From the WTOL report.

    During its 11 p.m. newscast yesterday, WTOL (CBS/Toledo) aired a report titled “Holy Rip-Off” about the alleged Profitable Sunrise HYIP scam. The report, which began with images of Ponzi schemer Bernard Madoff playing in the background, focused on alleged Profitable Sunrise pitchwoman Nanci Jo Frazer of Bryan, Ohio. Frazer and her NJF Global Group are referenced in Profitable Sunrise-related regulatory actions that brought the alleged scam to a halt, but have not been charged.

    It’s easy to imagine that many people in WTOL’s audience will be surprised to learn that groups of individuals were pushing Profitable Sunrise and its absurd purported daily rates of return with a straight face. Among the Profitable Sunrise offerings was the bizarrely named “Long Haul” plan that promised interest of 2.7 percent a day that could be compounded. That Profitable Sunrise also traded on faith may bring a special blend of horror to the station’s Middle America viewers.

    Still, it won’t be the maximum horror. Indeed, the SEC has alleged that Profitable Sunrise pitchmen may not even have known the identity of the person or persons running the “program” from a “mail drop” in England.

    Indeed, a situation has evolved in which self-identified Christians apparently were targeting other Christians with promises of daily payouts that would make Madoff gag — and from all indications were doing so without even knowing for whom they were working as the offer spread virally over the Internet.

    Whether purported Profitable Sunrise operator “Roman Novak” even exists still isn’t known.

    Then, of course, there is the question about the final destination of purported tens of millions of dollars directed at the “program,” which was pitched in part from well-known forums referenced in U.S. court filings as places from which massive Ponzi and fraud schemes are promoted.

    Within hours of an action brought by North Carolina against Profitable Sunrise weeks ago, a poster on the MoneyMakerGroup Ponzi forum said this:

    “lol @ NC officials.” (See Comments thread in this PP Blog March 1 story.)

    As the story has continued to unfold, an element or elements within NJF Global Group appears to be trying to blame critics for the demise of the “program,” as though the 2.7-percent-a-day “Long Haul” and four other absurd plans were entirely rational and didn’t warrant any scrutiny at all.  This is occurring against the backdrop of major actions brought against other HYIP “programs” by the U.S. government in recent years, including Zeek Rewards last year. Zeek allegedly planted the seed it paid an average of 1.5 percent a day, about half of the purported return of the Profitable Sunrise “Long Haul” plan.

    One of the issues posed by Profitable Sunrise is the issue of willful blindness among promoters. If Zeek was a scam at 1.5 percent a day, for instance, how could Profitable Sunrise not be one with “plans” that dwarfed the returns of Zeek?

    It is known that Profitable Sunrise had promoters in common with Zeek. Some of the promotional ties among various HYIP programs date back at least to the AdSurfDaily 1-percent-a-day scheme in 2008. Like Profitable Sunrise, ASD also traded on religion.

    As the screen shot (above) from the WTOL report shows, Profitable Sunrise offered a three-tiered, MLM-style referral “program” on top of the absurd interest rates. ASD President Andy Bowdoin is in federal prison for his 2008 scam, which offered a two-tiered referral program on top of an absurd 1-percent-a-day interest rate.

    When the U.S. Secret Service exposed the ASD scam, Bowdoin compared the agency to “Satan” and the raid on ASD’s Florida headquarters to the 9/11 terrorist attacks. Earlier — prior to the August 2008 raid — he described himself as a Christian “money magnet” and encouraged prospects to send him tens of thousands of dollars at a time.

    Watch WTOL introduce Profitable Sunrise and the early fallout to its audience . . .

    ToledoNewsNow.com: News, Weather

  • WTOL To Air Profitable Sunrise Report Titled ‘Holy Rip Off’

    From The WTOL teaser.
    From The WTOL teaser.

    EDITOR’S NOTE: GlimDropper, an administrator at the RealScam.com antiscam forum, gave PP Blog readers a heads-up on the WTOL report yesterday . . .

    WTOL, the CBS affiliate in Toledo, Ohio, says it will air a report Thursday (April 25) at 11 p.m. EDT titled “Holy Rip Off.”

    A teaser for the report shows photos of Profitable Sunrise pitchwoman Nanci Jo Frazer. Frazer’s NJF Global Group is referenced in a New Zealand fraud warning on the Profitable Sunrise “program” and also within the body of a March 14 notice issued by the Ohio Department of Commerce Division of Securities. Frazer and NJF Global Group also are referenced in the body of a March 14 cease-and-desist order issued by the Minnesota Department of Commerce.

    Numerous securities regulators have described Profitable Sunrise as a form of affinity fraud targeted at people of faith. At least 35 agencies in the United States and Canada have issued cease-and-desist orders or Investor Alerts against the HYIP “program,” which had a presence on infamous Ponzi forums such as TalkGold and MoneyMakerGroup.

    The website of Profitable Sunrise has been missing since at least March 14. On April 1 — the day after Easter Sunday and April Fools Day — the “program” failed to make good on promised payouts from the bizarrely named “Long Haul” plan. The “Long Haul” was purported to pay interest of 2.7 percent a day. Its claims were similar to other collapsed schemes promoted on the Ponzi boards.

    On Dec. 30, the PP Blog reported that Profitable Sunrise appeared to be relying on appeals to faith in a bid to attract investors in the wake of the August 2012 collapse of the Zeek Rewards “program.” Zeek, which allegedly planted the seed it paid interest of 1.5 percent a day, also had a presence on the Ponzi boards. In August, the SEC described Zeek as a $600 million Ponzi- and pyramid fraud.

    Earlier this month, the SEC described Profitable Sunrise as a pyramid scheme that had collected an unspecified sum believed to be in the tens of millions of dollars.

    RealScam.com, an antifraud forum recently targeted in a DDoS attack, has been publishing information on Profitable Sunrise since at least Dec. 1.

    The PP Blog learned last month that at least one apologist for the NJF Global Group has relied on purported “research” by a notorious cyberstalker known as “MoneyMakingBrain” in an apparent bid to discredit critics of the “program.”

    MoneyMakingBrain emerged in 2012 as an apologist for the JSSTripler/JustBeenPaid “program” purportedly operated by Frederick Mann. JSS/JBP purported to pay 2 percent a day. MoneyMakingBrain claimed he’d defend Mann “so help me God.”

    JSS/JBP, which appears to have morphed into secondary and tertiary scams (ProfitClicking and ClickPaid) after the August collapse of Zeek, may have ties to the “sovereign citizens” movement. Mann has compared the U.S. government to the Mafia, claiming that government employees were part of “a criminal gang of robbers, thieves, murderers, liars, imposters.”

    Profitable Sunrise also may have ties to the “sovereign citizens” movement.

    Some “sovereign citizens” have an irrational belief that laws do not apply to them. It is known that the AdSurfDaily Ponzi scheme in 2008 also had ties to “sovereign citizens,” including Kenneth Wayne Leaming. Leaming, a resident of Washington state, was convicted earlier this year of filing false liens for billions of dollars against public officials who had a role in the prosecution of the ASD Ponzi scheme.

    ASD operated from Florida, planting the seed it paid a return of 1 percent a day. ASD President Andy Bowdoin — now serving a 78-month prison term — also was associated with a 1-percent-a-day scam known as AdViewGlobal. AVG bizarrely claimed in 2009 that it enjoyed the protections of the U.S. and Florida constitutions while purportedly operating from Uruguay. The scam collapsed during the summer of 2009 — but not before issuing threats to members and critics.

    In May 2009, AVG bizarrely announced it had secured the services of an offshore facilitator. The announcement was made on the same day President Obama announced a crackdown on offshore scams.

    Obama later was pilloried in an ad for a “program” known as MPB Today. MPB’s operator later was charged in Florida with racketeering.

    “Sovereigns” are infamous for drafting others into scams, including people who do not recognize they are being drafted into illegal pursuits.

    The teaser for the WTOL report is below . . .

  • UPDATE: North Carolina Says Profitable Sunrise Investors Have Been Targeted In ‘Reload Scams’ Like Zeek Rewards Investors Before Them

    From a warning by North Carolina that Profitable Sunrise investors are being targeted in reload scams.
    From a warning by North Carolina that Profitable Sunrise investors are being targeted in reload scams.

    UPDATED 11:28 A.M. EDT (U.S.A.) The Securities Division of North Carolina Secretary of State Elaine F. Marshall has issued a warning that Profitable Sunrise investors are being targeted in “reload scams.”

    North Carolina issued a similar warning in August 2012, saying then that members of the Zeek Rewards “program” — an alleged $600 million Ponzi- and pyramid scheme operating online — also were being targeted in reload scams.

    From a statement by Marshall’s office (italics added):

    The NC Securities Division has learned that Profitable Sunrise investors are being contacted with promises of help in getting their money back for them. The Securities Division is issuing this alert to warn investors that such promises may be yet another attempt to scam them again through a “reload scam”.

    Reload scams hit consumers when they’re down, offering to help them make back money they lost to a previous scam or bad business decision. These scams have been popular for years with telemarketing fraud rings but can also follow other types of fraud, including investment fraud.

    Such reload scams were aimed at victims of the Zeek Rewards Ponzi scheme last year. Reload scammers used social media sites and online news releases to tout opportunities to help investors replace the income they were receiving from Zeek Rewards. Similar opportunities are being touted in the case involving Profitable Sunrise. Investors are warned to stay away from such “opportunities”.

    On Feb. 27, North Carolina issued a cease-and-desist order against the Profitable Sunrise “program” and purported operators Roman Novak and Radoslav Novak. Profitable Sunrise operated through a British entity known as Inter Reef LTD.

    At least 35 U.S. states or provinces in Canada went on to issue Investor Alerts or cease-and-desist orders against Profitable Sunrise. The SEC filed an action on April 4, alleging that Profitable Sunrise was an online pyramid scheme that may have gathered tens of millions of dollars.

    Promoters of Profitable Sunrise may have pushed the program without even knowing for whom they were working, the SEC said.

    On April 1, the PP Blog observed an online pitch for an entity that appeared to be using the name and address of a U.S. government agency while promising “to recover” funds lost through Profitable Sunrise. The fake agency claimed it could recover losses for a sum of less than $50 and encouraged Profitable Sunrise members to send money to purported accounts at the Liberty Reserve and Solid Trust Pay payment processors.

    Profitable Sunrise members also have been targeted by boat-sharks hoping to glean commissions for other HYIP “programs” and purported MLM “opportunities.”

    On March 31 — Easter Sunday — the PP Blog reported that a Facebook pitch aimed at Profitable Sunrise members sought to recruit them into a “program” known as TelexFree.

    A video for TelexFree claimed members could purchase an income by sending the “program” specific sums of money.

    The TelexFree pitch was similar to pitches for the infamous World Marketing Direct Selling (WMDS) and OneUniverseOnline (1UOL) pyramid schemes, which were exposed in 2005 and operated by James Bunchan and Seng Tan. Those scams resulted in federal prison sentences for both Bunchan and Tan and also sparked follow-up probes by the government because a federal prosecutor and witnesses were subjected to death threats by Bunchan.

    Like Profitable Sunrise, the WMDS and 1UOL scams traded on references to religion. And like TelexFree and Profitable Sunrise, WMDS and 1UOL prospects were told they could purchase an income.

    WMDS and 1UOL members — like Profitable Sunrise members — also may not have been sure of who they were working for. Here is a snippet from an appeals-court ruling upholding the 20-year-prison sentence of Tan (italics added):

    “A high-school graduate, [Christian] Rochon became president (in name only, though) for one reason, and one reason only: Bunchan wanted an ‘American face’ for his companies, and his neighbor Rochon (a Caucasian of Canadian decent) apparently fit the bill,” the footnote reads. “And after renting Rochon a suit jacket and taking him to a professional photographer, Bunchan had Rochon’s photo plastered all over the companies’ promotional pamphlets.”

    Tan told WMDS and 1UOL members that she’d been sent by the “Gods” to make them millionaires.

    Also see April 16 PP Blog story: Idaho Says Profitable Sunrise Pitchmen May Have Exposure ‘For Soliciting Other Investors’

     

  • Idaho Says Profitable Sunrise Pitchmen May Have Exposure ‘For Soliciting Other Investors’

    The state of Idaho says the Profitable Sunrise "program" used investors in the state to recruit other investors.
    The state of Idaho says the Profitable Sunrise “program” used investors in the state to recruit other investors.

    UPDATED 9:44 A.M. EDT (U.S.A.) Add Idaho to the list of U.S. states and provinces in Canada that have issued Investor Alerts or cease-and-desist orders against the Profitable Sunrise HYIP “program.”

    And because Profitable Sunrise also was in the business of recruiting pitchmen to sell unregistered securities in addition to offering preposterous returns, Idaho’s Department of Finance noted that the pitchmen could have exposure.

    “Those investors who receive compensation for soliciting other investors may themselves be subject to the licensing and anti-fraud provisions of state and federal securities laws,” said Gavin Gee, director of the Finance Department.

    The unofficial tally of U.S. states and provinces on Canada taking action against Profitable Sunrise now stands at 35. The SEC also has taken action, including a notice that it had arranged depositions. The court docket in the SEC case suggests the agency had entered at least 11 evidence exhibits as of April 15.

    sdadprofitablesunrisePurported Profitable Sunrise operator “Roman Novak” was a no-show at a federal hearing yesterday in Atlanta.

    Regulatory filings in Colorado say that Profitable Sunrise was pitched in part through classified-advertising sites.

    One ad for the “program” in South Dakota claimed this: “Finally we have the bomb.”

    In court filings on April 4, the SEC said Profitable Sunrise pitchmen may have pushed the “program” without even knowing for whom they were working.

    “Profitable Sunrise operates for the benefit of unknown individuals and/or organizations doing businesses through companies formed in the Czech Republic and using bank accounts in the Czech Republic, Hungary, Latvia, and China, among other places,” the SEC alleged.

    Tens of millions of dollars may have been directed to Profitable Sunrise, the SEC said.

     

  • Joe Borg Of Alabama Securities Commission Tells WSFA That Profitable Sunrise Worked Because People ‘Kind Of Glossed Over The Mathematics’

    Joe Borg of the Alabama Securities Commission. From: WSFA news report.
    Joe Borg of the Alabama Securities Commission. From: WSFA news report.

    EDITOR’S NOTE: Alabama was one of the first U.S. states to take action against the Profitable Sunrise HYIP “program,” issuing both an Investor Alert and a cease-and-desist order last month. The C&D lists two alleged “agents” of Profitable Sunrise, demonstrating that a “program” can create problems for pitchmen, perhaps even as the “program” operators make a getaway or disappear into the darkest corners of the Internet.

    Profitable Sunrise had at least five purported investment plans, including one dubbed the “Long Haul” that promised a payout of 2.7 percent a day.

    Whether the bizarrely named “Long Haul” plan was a deliberate taunt at regulators and possibly even the pitchmen who helped the scheme gain a head of steam remains unclear.

    Listed as agents in the Alabama order were Melton McClanahan and Adam York. “An investigation of the company’s actions revealed that the men allegedly promoted at least five different ‘investment plans’ through a website used to promote Profitable Sunrise investment program and disseminate information to potential investors regarding the company’s various investment opportunities,” the Alabama Securities Commission said in the order.

    Also listed in the order were purported Profitable Sunrise operators Roman Novak and Radoslav Novak. In a complaint last week, the SEC said that “Profitable Sunrise operates for the benefit of unknown individuals and/or organizations doing businesses through companies formed in the Czech Republic and using bank accounts in the Czech Republic, Hungary, Latvia, and China, among other places.”

    ____________________________________

    Joe Borg of the Alabama Securities Commission (ASC) has dealt with massive fraud schemes that traded on faith, including the Greater Ministries International Church caper in the 1990s that led to criminal convictions against five individuals.

    Back in 1999, ASC and the Ohio Division of Securities filed a joint complaint in federal court in Florida to shut GMI down. The purported “opportunity” took in more than $550 million by touting “divinely-inspired investments in the foreign currency market and gold, silver and diamond mines in Africa and the Caribbean,” ASC said at the time.

    Now, Borg and other state and provincial regulators are tacking the Profitable Sunrise scheme, which traded on faith and promised absurd returns.

    “I think because they used a per-day percentage, people kind of glossed over the mathematics,” Borg told WSFA.

    WSFA.com: News Weather and Sports for Montgomery, AL.

  • URGENT >> BULLETIN >> MOVING: CONSOB, Italian Securities Regulator, Takes Action Against Alleged Profitable Sunrise Promoter

    breakingnews72URGENT >> BULLETIN >> MOVING: The Italian securities regulator CONSOB has filed a suspension order that names an alleged promoter of Profitable Sunrise, amid allegations that Profitable Sunrise is an investment program.

    The agency said it observed pitches for ProfitableSunrise on a WordPress Blog under the control of “Daniele Verzari, who presents himself to users of the website as the ‘founder’ of the Vdproject Italy team.”

    Verzari, according to CONSOB, now is banned from promoting Profitable Sunrise and programs known as “Vityazi” and “Bestforinvest.” In a separate order, the agency said Bestforinvest operated at the domain bestforinvest.org.

    Promos for Bestforinvest were “carried out in the absence of the prescribed authorizations,” CONSOB said.

    In the past, CONSOB has acted against promoters of HYIP schemes such as Club Asteria and JSSTripler/JustBeenPaid.

    Profitable Sunrise had at least five investment programs, according to Investor Alerts or cease-and-desist orders filed by securities regulators in the United States. One of the purported “plans” was known as the “Long Haul,” which purported to pay interest of 2.7 percent a day. Payouts from the bizarrely named “Long Haul” plan were touted as an “Easter Gift” and were due yesterday.

    Profitable Sunrise members are complaining about not getting paid. The “opportunity’s” website has been offline for nearly three weeks.

    Both the United Kingdrom and Zew Zealand have issued alerts about Profitable Sunrise. So have at at least 34 state and provincial regulators in the United States and Canada.

    Here is the text of the April 2 CONSOB order, as presented in English on the agency’s website:

    Under the terms of Art. 101, section 4, lett. b), of the Consolidated Law on Finance, Consob has suspended, for a period of 90 days, the advertising activity relating to offering to the public the investment programmes entitled Vityazi, Profitable Sunrise and Bestforinvest carried out, through the website www.vdprojectitaly.wordpress.com by Daniele Verzari, who presents himself to users of the website as the “founder” of the Vdproject Italy team (Resolution No. 18510 of 27 March 2013).

    In relation to the three investment programmes, on the basis of the descriptions provided on the website www.vdprojectitaly.wordpress.com and, in relation to the programmes Profitable Sunrise and Bestforinvest, on the basis of the descriptions on the “official” websites, there seem to be the characteristics of an investment of a financial nature, the notion of which implies the presence together of the three elements: (i) an investment of capital; (ii) an expectation of a return of a financial nature; (iii) the assumption of a risk associated with the investment of capital. Indeed, all three investment programmes require investment of an initial capital of an indeterminate amount, with the exception of the programme entitled Bestforinvest which provides for a minimum and maximum investible capital of between 100 and 9,000 US dollars.

    The activity carried out through the website www.vdprojectitaly.wordpress.com leads to the well-grounded suspicion that the advertising activity performed in relation to the public offering of financial products breaches Art. 101, section 2, of the Consolidated Law on Finance which states that “before publication of the prospectus it is forbidden to make any advertising announcement regarding the public offering of financial products other than community financial instruments”, and that the said activity is still being performed. Hence the urgency of the measure, adopted in accordance with Art. 101, section 4, letter b, of the Consolidated Law on Finance.

    CONSOB’s issuance of the order is important because it demonstrates that individual promoters can be held accountable for schemes that push unregistered securities even if they are not the operator of a “program.”

    Whether Verzari will defend against the CONSOB action and receive any help with potential legal bills from “Roman Novak” and Profitable Sunrise is unclear. “Roman Novak” is the purported operator of Profitable Sunrise.

  • NO EASTER PAYOUT: How To Contact State Securities Regulators About Profitable Sunrise HYIP SCHEME; [UPDATED WITH INFO FOR PROVINCES IN CANADA]

    recommendedreading1UPDATED 8:49 A.M. EDT (APRIL 16, U.S.A.) Today is the day payouts were due on the bizarrely named Profitable Sunrise “Long Haul” 2.7-percent-a-day plan. The Profitable Sunrise website has been offline for 18 days, leaving investors in the lurch. All of the U.S. states and provinces in Canada listed below have issued Investor Alerts or cease-and-desist orders against Profitable Sunrise. The number may grow.

    The link at the bottom of this post is from the North American Securities Administrators Association. It provides info on how to contact each of the state and provincial securities regulators in the United States and Canada.

    ALABAMA: Joe Borg, director of the Alabama Securities Commission, urged anyone in Alabama who has invested with Profitable Sunrise to contact the ASC’s Enforcement Division at 1-800-222-1253.

    Link to cease-and-desist order:

    http://www.asc.state.al.us/News/2013%20News/3-14-13%20C&D%20Profitable%20Sunrise.pdf

    ALASKA: Persons with information regarding Profitable Sunrise are encouraged to telephone the division at 907-269-8140 or send an email to dbsc@alaska.gov.

    Source:

    http://www.commerce.state.ak.us/bsc/pub/PR-13-12-ProfitableSunriseAlert.pdf

    CALIFORNIA: All California investors in Profitable Sunrise are strongly encouraged to contact the Department of Corporations to file a formal complaint at (866) ASK-CORP or at www.corp.ca.gov.

    [March 14] order is available on the Department’s website at http://www.corp.ca.gov/ENF/Default.asp.

    COLORADO: (Added April 2.) As reported by the Denver Post. Colorado Division of Securities website is here.

    DELAWARE: “This scam is a reminder to be alert and skeptical of money-making claims that are simply too good to be true,” Attorney General Beau Biden said. “I urge investors who believe they have been the victims of this or other schemes to immediately contact our Investor Hotline at 302-577-8424.”

    Source:

    http://news.delaware.gov/2013/03/14/biden-orders-halt-to-profitable-sunrise-investment-scheme-in-delaware/

    DISTRICT OF COLUMBIA: (Washington, DC): If you’re a District resident and have questions about Profitable Sunrise, email the Department of Insurance, Securities and Banking at disbcomplaints@dc.gov or disb@dc.gov; or call (202) 727-8000.

    Source: http://disb.dc.gov/release/department-warns-residents-about-possible-fraudulent-investment-group-profitable-sunrise

    FLORIDA: File a complaint if you have fallen victim to fraud or if you suspect questionable business practices. Consumers can call the OFR at (850) Its-Your Money (850-487-9687) or file a complaint online.

    Source:

    http://www.flofr.com/PressReleaseDetail.aspx?id=4146

    GEORGIA: See online complaint form on right ride of this page:

    http://www.sos.ga.gov/securities/

    Link to Georgia cease-and-desist order:

    http://www.sos.ga.gov/securities/GAProfitableSunriseCD_ENSC_130293.pdf

    IDAHO: “Those investors who receive compensation for soliciting other investors may themselves be subject to the licensing and anti-fraud provisions of state and federal securities laws,” said Gavin Gee, director of the Department of Finance.

    Source:

    http://finance.idaho.gov/PR/2013/PressRel-ProfitableSunrise.pdf

    INDIANA: Anyone who has invested in Profitable Sunrise should contact the Secretary of State’s office at 1-800-223-8791 or find us online at www.indianainvestmentwatch.com.

    Source:

    http://www.in.gov/activecalendar/EventList.aspx?fromdate=3/1/2013&todate=3/31/2013&display=Month&type=public&eventidn=90006&view=EventDetails&information_id=176811

    KENTUCKY: Investors can file a complaint or fraud report with DFI by phone or online at http://kfi.ky.gov/complaint/Pages/securities.aspx.

    Source: http://migration.kentucky.gov/Newsroom/eppc_ofi/031413profitable.htm

    LOUISIANA: Consumers who have invested with Profitable Sunrise are encouraged to contact the Securities Division of the Office of Financial Institutions at (225) 925-4512.

    Source:

    http://www.ofi.state.la.us/Sec%20ProfitableSunrise.htm

    MAINE: Consumers who have invested with Profitable Sunrise are encouraged to contact the Office of Securities at (877) 624-8551 (toll free in Maine) or (207) 624-8551. Shaw also urged consumers to contact Maine’s Office of Securities before investing to obtain general information about investment professionals and products, including online investment or business opportunities. More information is available at www.investors.maine.gov.

    Source:

    http://www.maine.gov/tools/whatsnew/index.php?topic=SEC-PressReleases&id=513802&v=Default

    MARYLAND: Attorney General Gansler reminds anyone who may have invested in “Profitable Sunrise” to contact the Securities Division of his office at 410-576-7050 if they have questions. Any investor may call the Securities Division to inquire about the status of investment promoters or the securities in which they plan to invest.

    See Maryland cease-and-desist order:

    http://www.oag.state.md.us/Securities/Actions/2013/ProfitableSunrise.pdf

    MINNESOTA: If you have questions or want to report suspicious activity, the Commerce Department’s Consumer Help Line can be reached by phone at (651) 296-2488 or (800) 657-3602. Questions or consumer complaints related to securities can be sent by email to securities.commerce@state.mn.us or by mail to the Minnesota Department of Commerce, 85 7th Place East, Suite 500, Saint Paul, MN 55101.

    Link to Minnesota case-and-desist order:

    http://mn.gov/commerce/images/ProfitableSunriseCeaseandDesist.pdf

    MISSOURI: “File a Complaint” link is on left side of this page:

    http://www.sos.mo.gov/securities/enforcement.asp

    NEVADA: Residents who have been contacted or solicited by someone claiming to represent Profitable Sunrise or any of its affiliated entities are encouraged to contact the Nevada Securities Division at (702) 486-2440 or by visiting the Securities Center on the Secretary of State’s website at http://www.nvsos.gov.

    Source:

    http://nvsos.gov/index.aspx?recordid=1285&page=23

    NEW HAMPSHIRE: Bureau of Securities: 603-271-1463.

    Source:

    http://www.sos.nh.gov/securities/Press_Releases/PRESSR_2013-03-25.pdf

    NEW JERSEY: Individuals who have invested with Profitable Sunrise are encouraged to contact the New Jersey Bureau of Securities at (866) 446-8378 and to file a complaint.

    Source:

    http://nj.gov/oag/newsreleases13/pr20130318b.html

    NEW MEXICO: New Mexico Regulation and Licensing Superintendent J. Dee Dennis Jr. urged anyone in New Mexico who has invested with Profitable Sunrise to contact the New Mexico Regulation and Licensing Securities Division at New Mexico Regulation and Licensing Department at 1-800-704-5533.

    Source:

    http://www.rld.state.nm.us/uploads/PressRelease/b88957513a09474898000e52177885b3/Investor_Alert___Press_Release.pdf

    NORTH CAROLINA: Secretary of State Elaine Marshall urged anyone in North Carolina who has invested with Profitable Sunrise to contact the Secretary of State’s Securities Division at 1-800-688-4507.

    Link to cease-and-desist order:

    https://patrickpretty.com/wp-content/uploads/2013/03/NorthCarolinaProfitableSunrise21209608.pdf

    NORTH DAKOTA: Karen Tyler, North Dakota Securities Commissioner, urged anyone in North Dakota who has invested with Profitable Sunrise to contact the North Dakota Securities Department’s Enforcement Division at 701-328-2910 or 1-800-297-5124.

    OHIO: Ohioans are encouraged to call the Ohio Division of Securities Investor Protection Hotline toll free at 877-683-7841 or file a complaint with the Division online at http://www.com.ohio.gov/secu

    OREGON: See news release:

    http://www.cbs.state.or.us/dfcs/news_releases/ProfitableSunrise.pdf

    SOUTH CAROLINA: Attorney General Alan Wilson urged anyone in South Carolina who has invested with Profitable Sunrise to contact the Securities Division of the South Carolina Attorney General’s Office at (803) 734-9916.

    Read more: http://www.scag.gov/archives/8089

    SOUTH DAKOTA: If you or someone you know invested with Profitable Sunrise, Inter Reef, Ltd., Roman Novak, Radoslav Novak or any affiliated individuals or entities, please contact the Division of Securities at 605-773-4823.

    Source:

    http://www.sdjobs.org/news/releases13/nr032613_profitable_sunrise.pdf

    TENNESSEE: Tennessee Securities Assistant Commissioner Daphne D. Smith urges any Tennessean who has invested with Profitable Sunrise to contact the Securities Division at 800-863-9117 or to visit www.tn.gov/commerce/securities.

    Source:

    http://news.tn.gov/node/10426

    TEXAS: Texas State Securities Board website:

    http://www.ssb.state.tx.us/

    See cease-and-desist order here:

    http://www.ssb.state.tx.us/Enforcement/files/1722.pdf

    WEST VIRGINIA: The Securities Division encourages any West Virginia residents who have invested in Profitable Sunrise to contact the Securities Division Enforcement Section at (304) 558-2251 or toll free at (877) 982-9148.

    Source:

    http://www.wvsao.gov/communications/prDetail.aspx?rID=378

    WISCONSIN: Anyone who has invested with Profitable Sunrise is encouraged to contact the Division of Securities enforcement office at 608-266-1603.

    Source:

    http://www.wdfi.org/newsroom/press/2013/ProfitableSunriseAlert20130314.pdf

    In Canada

    ALBERTA: The ASC urges investors to familiarize themselves with some common red flags of investing and offers the Red Flags of Investing factsheet.  If you unsure about an investment opportunity, consult a registered financial adviser or obtain independent legal advice before making a decision or handing over any money.  Do more research using the resources of the Alberta Securities Commission by visiting www.albertasecurities.com or contacting ASC Public Inquiries at 1-877-355-4488 or inquiries@asc.ca.

    Source:

    http://www.albertasecurities.com/news/Lists/ASC%20News/DispForm.aspx?ID=1151

    BRITISH COLUMBIA: The BCSC urges investors, agents or members of the public who have been approached by or have information about Profitable Sunrise to contact the BCSC inquiries line at 604-899-6854 or 1-800-373-6393 (toll free).

    Source:

    http://www.bcsc.bc.ca/release.aspx?id=16782

    MANITOBA: Check out the MSC website at http://www.msc.gov.mb.ca/education/index.html for resources on investment scams and what action you can take to protect your hard earned money.  If you have received unsolicited phone calls about investment opportunities please contact the Manitoba Securities Commission at (204) 945-2548 or toll free at 1-800-655-5244 and ask to speak to an investigator.

    Source:

    http://www.msc.gov.mb.ca/media_events/investor_alerts/sunrise.html

    NEW BRUNSWICK: Being an informed investor is the best defence against investment fraud. Learn how to protect yourself by taking advantage of the materials available on the New Brunswick Securities Commission’s website at www.investinknowingmore.ca.

    Source:

    http://www.nbsc-cvmnb.ca/nbsc/news_content_display.jsp?news_id=396&id=24&pid=4

    ONTARIO: If you have any questions or information relating to this matter, please contact the OSC Contact Centre at 1-877-785-1555.

    Source:

    http://www.osc.gov.on.ca/en/NewsEvents_nr_20130312_osc-ia-inter-reef-novak.htm

    QUEBEC: If you have responded to solicitations from Profitable Sunrise or any similar type of solicitation, please contact an officer at our Information Centre.

    Source:

    http://www.lautorite.qc.ca/en/press-releases-2013-corpo.html_2013_profitable-sunrise-2013-03-12.html

     

    NASAA list of state and provincial regulators

    http://www.nasaa.org/about-us/contact-us/contact-your-regulator/

    Also see March 25 PP Blog post.

  • New Hampshire Joins Many Other States Or Provinces In Issuing ‘Profitable Sunrise’ Warning; [UPDATE: District Of Columbia, Georgia And West Virginia Now On List Of 34, Too]

    recommendedreading1 UPDATED 6:11 P.M. EDT (MARCH 28, U.S.A.)  The District of Columbia has issued a warning about Profitable Sunrise. So has West Virginia. Georgia has issued a cease-and-desist order. A majority of U.S. states now have taken action in one form or another against Profitable Sunrise. See the info in the Comments thread below . . .

    New Hampshire has joined the list of states or provinces warning about the “Profitable Sunrise” HYIP scheme. The unofficial tally now stands at 34.

    In Canada: New Brunswick, Quebec, Ontario, British Columbia, Alberta, Manitoba.

    In the United States: Kentucky, Ohio, Florida, Wisconsin, Nevada, Minnesota, California, Indiana, New Mexico, Texas, Delaware, North Dakota, South Dakota, Alabama, North Carolina, South Carolina, Alaska, Maryland, Maine, New Jersey, Louisiana, Tennessee, Oregon, Missouri, New Hampshire, District of Columbia (federal district), Georgia, West Virginia.

    Regulators in New Zealand (FMA) and the United Kingdom (FSA) also have issued warnings against Profitable Sunrise.

    The website of Profitable Sunrise has been offline for nearly two weeks. Boat-sharks have been using Facebook to suck Profitable Sunrise members into other HYIP scams, some of which purported to pay more than Profitable Sunrise’s bizarrely named “Long Haul” plan, which advertised 2.7 percent a day with a purported Easter holiday payout.

    Here is what New Hampshire has to say about Profitable Sunrise.