ProfitableSunrise

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 […]

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 […]

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- […]

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 […]

UPDATED 9:11 P.M. EDT (APRIL 17, U.S.A.) Some Profitable Sunrise investors wired money to entities in Australia and Panama, according to new filings in the SEC’s pyramid-scheme and fraud case. The new filings, dated today, identify those entities as Technocash Limited of Sydney and Trackford Business Corp. of Panama City. Earlier filings named four other […]

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 […]

ANNOUNCEMENT: The PP Blog has banned a specific IP that appears to originate in the area of Fort Wayne, Ind. Between 1:33 p.m. and 1:36 p.m. today, the IP sought to pull six separate PP Blog stories with the aim of planting spam links. The first story was this one, dated Dec. 17, 2010: URGENT […]

BULLETIN: (UPDATED 1:56 P.M. EDT (APRIL 8, U.S.A.) In a move that may rattle promoters of HYIP fraud schemes, the SEC has scheduled a deposition for at least one individual known to have pitched the Profitable Sunrise “program.” Pitchman Anthony M. Infante will be deposed April 11 at a location in Florida, according to the […]

URGENT >> BULLETIN >> MOVING: (17th update 4:02 p.m.) The SEC has filed a complaint against the ProfitableSunrise HYIP “program” in federal court in Atlanta. The story first was reported by CourthouseNewsService this morning. At the same time, the PP Blog has learned that the agency applied for an emergency asset freeze, explaining that Profitable […]

Profitable Sunrise had come under investigation in Colorado at least by March 8 and was officially notified March 11 that the state suspected it was breaking securities laws, the state Securities Board says in filings this week. Colorado scheduled a hearing for March 25 after learning that Profitable Sunrise also was under investigation in North […]

WordPress has booted a Blogger named in an April 2 order by CONSOB, the Italian securities regulator. The Blog of Daniele Verzari now carries this message: “vdprojectitaly.wordpress.com is no longer available. “This blog has been archived or suspended for a violation of our Terms of Service . . .” HYIP schemes spread in part through […]