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Tag: Profitable Sunrise

After Probe By Boston Police, Suffolk County DA Brings Ponzi And Loan-Sharking Charges Against Alleged ‘Common And Notorious Thief’; Investigators Say Investors Were Told They Were Providing Loans To Fund Loans At A Higher Rate

Some members of the Profitable Sunrise HYIP have said they were providing loans to “Roman Novak,” who lent out the money at a higher rate and created profits for the business and its promoters. Profitable Sunrise has been hit by cease-and-desist orders or Investor Alerts in at least 25 U.S. states and Canadian provinces. Profitable…

Mar 18, 2013
UPDATE: New Jersey Issues Investor Alert On ‘Profitable Sunrise’

New Jersey has joined numerous U.S. states in issuing an Investor Alert on the Profitable Sunrise HYIP “program.” Separately, Alabama has issued a cease-and-desist order. The state previously issued an Investor Alert. With New Jersey’s action, the unofficial total of U.S. states or Canadian provinces issuing Investor Alerts or cease-and-desist orders now stands at 25.…

Mar 18, 2013
CURRENT NUMBER: [35]: Tally (Unofficial) Of States And Provinces Filing Actions Or Issuing Investor Alerts Against Profitable Sunrise

UPDATED 8:52 A.M. EDT (APRIL 16, U.S.A.) See related stories here (April 1) and here (March 25). EDITOR’S NOTE: These numbers are unofficial. They are culled from media reports and/or news releases from enforcement agencies. As the PP Blog reported yesterday, the Profitable Sunrise website appears to be down. The reason why is unclear, although…

Mar 15, 2013
BULLETIN: Kentucky Issues Emergency Cease-And-Desist Order To Profitable Sunrise; Order Identifies Possible Pitchwoman Issuing News Releases That Include Link To ‘HYIP Investment Calculator’; [UPDATE: Ohio, Other States Issue Warnings]

EDITOR’S NOTE: Ohio now has issued a warning on Profitable Sunrise, saying 15 other states also have issued warnings. Information from Ohio and other states has been added to the Comments thread below . . . BULLETIN: (UPDATED 2:01 P.M. EDT (U.S.A.) The state of Kentucky has issued an emergency cease-and-desist order to the Profitable…

Mar 14, 2013
New Zealand Calls Profitable Sunrise ‘Illegal,’ Issues Warning, Cites YouTube Promos — And Suggests U.S.-Based Recruitment Arm May Be Part Of Scam

The Financial Markets Authority of New Zealand (FMA) has joined regulators in the United States, Canada and the United Kingdom in issuing a warning on the Profitable Sunrise HYIP “program.” New Zealand’s warning also extends to NJF Global Group, which appears to be a Profitable Sunrise recruitment organization operating from the United States. (More below.)…

Mar 14, 2013
BULLETIN: No Profitable Sunrise For Florida Ponzi Pitchman; Gary D. Martin Sentenced In North Carolina To 10 Years In Federal Prison For ‘Queen Shoals’ Money-Laundering Conspiracy And Ordered To Pay More Than $31 Million In Restitution

In a development that could give pause to promoters of the purportedly “private” Profitable Sunrise scheme now on the radar of regulators in North America and Europe, a Florida man has been sentenced to 10 years in federal prison for his role in pitching a purported “opportunity” known as Queen Shoals. The announcement of the…

Mar 12, 2013
UPDATE: Canada’s Ontario And Quebec Join Alberta In Issuing Warning On ‘ProfitableSunrise’; [UPDATE: British Columbia, Too]

UPDATED 4:48 PM EDT (U.S.A.) British Columbia now also has issued a warning against Profitable Sunrise. See Comments thread below . . . First it was North Carolina in the United States. Alabama quickly followed. And the United Kingdom’s Financial Services Authority also issued a warning about the Profitable Sunrise “program.” Canada’s province of Alberta…

Mar 12, 2013
BULLETIN: Alberta Securities Commission Issues Warning On ‘Profitable Sunrise’ After First Calgary Financial Observes ‘Trend’ Of ‘Suspicious’ Overseas Transactions

BULLETIN: The Alberta Securities Commission (ASC) has issued a warning on the Profitable Sunrise “program.” The Canadian agency’s move followed on the heels of reports from First Calgary Financial that “several of its Calgary customers have attempted to withdraw significant amounts of funds from their accounts for wire transfers to the Czech Republic,” ASC said.…

Mar 11, 2013
BULLETIN: Britain’s Financial Services Authority (FSA) Puts ‘Profitable Sunrise’ On Warning List Of ‘Unauthorised Firms And Individuals’

BULLETIN: The Financial Services Authority (FSA) of the United Kingdom has placed the Profitable Sunrise “program” on a warning list of “unauthorised firms and individuals.” Profitable Sunrise also is under scrutiny by American regulators in North Carolina and Alabama. The HYIP “program” purportedly is operated by Roman Novak. Separately, the New Zealand Herald is reporting…

Mar 8, 2013
URGENT >> BULLETIN >> MOVING: Alabama Issues Warning On ‘Profitable Sunrise’

URGENT >> BULLETIN >> MOVING: The state of Alabama has issued a warning on Profitable Sunrise. The move follows on the heels of a cease-and-desist order issued last week by North Carolina. The warning comes in the form of an “investor alert” issued by the office of Joseph Borg, the director of the Alabama Securities…

Mar 6, 2013
North Carolina Secretary Of State: Profitable Sunrise ‘A Real Danger To The Investing Public’

EDITOR’S NOTE: Reproduced below is the full news release by the office of North Carolina Secretary of State Elaine F. Marshall on the cease-and-desist order issued last week to “Profitable Sunrise.” Even as the state has raised serious concerns about the “program,” Profitable Sunrise “defenders” have been seeking to minimize the issues. Some people even…

Mar 5, 2013