Tag: SEC
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Were Costa, Nehra No-Shows At TelexFree Confab In Spain? Plus — TelexFree In Haiti
UPDATED 12:23 P.M. ET (MARCH 4, U.S.A.) A 10-hour video of the TelexFree confab in Spain Saturday and Sunday has emerged, apparently a recording of a once-live feed. After being billed as headliners, neither Brazil-based TelexFree executive Carlos Costa nor American MLM lawyer Gerald Nehra appeared on the stage to accept awards. U.S.-based TelexFree marketing…
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Scrutiny Of TelexFree Intensifies; 2 European Police Agencies Issue Warnings And Say Madeiran Community At Risk
Updated 9:45 a.m. (Feb. 27, 2014, U.S.A.) Police who serve Portuguese-speaking residents in two British Crown dependencies — the States of Jersey and Guernsey — have issued warnings on the TelexFree scheme. News of the warnings was published on BehindMLM.com. Brazil-based TelexFree executive Carlos Costa waved the flags of Portugal and Madeira in a curious…
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UPDATE: 2 Key Figures In Zeek Case Will Be Under Supervision Of U.S. Probation Office While Out On Bond
In an update to victims of the $850 million Zeek Rewards Ponzi scheme, federal prosecutors said Dawn Wright-Olivares and Daniel Olivares will be under the supervision of the U.S. Probation Office while out on bond. Wright-Olivares, 45, was Zeek’s former COO. She pleaded guilty last week to investment-fraud conspiracy and tax-fraud conspiracy. Daniel Olivares, the…
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BULLETIN: California Calls WCM777 A ‘Scam,’ Issues Desist And Refrain Order That Names Executives And YouTube Pitchman
BULLETIN: (Updated 10:36 a.m. ET U.S.A.) The state of California has called the WCM777 MLM “program” a “scam” and issued a Desist and Refrain Order that bans the enterprise in the state. The Department of Business Oversight (DBO) has issued a companion Consumer Alert and is “strongly” encouraging California investors to file a formal complaint.…
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BULLETIN: U.S. Senator Calls For Investigation Of Herbalife; Says Constituent’s Family Lost $130,000, Including ‘Entire 401(K)’ Retirement Account, To MLM Program
BULLETIN: Sen. Edward J. Markey, D.-Mass., has called for an investigation of Herbalife, an MLM program. “There is nothing nutritional about possible pyramid schemes that promise financial benefit but result in economic ruin for vulnerable families,” Markey said in a statement. “Herbalife may be a purveyor of health and wellness products, but some of its…
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URGENT >> BULLETIN >> MOVING: Justice Department Sues Four Oaks Bank, Says It Turned Blind Eye To Red Flags At Rex Venture Group, Operator Of Zeek Rewards
URGENT >> BULLETIN >> MOVING: (4th Update 5:14 p.m. ET U.S.A.) The U.S. Department of Justice has sued North Carolina-based Four Oaks Bank, alleging that it turned a blind eye to fraud markers at Rex Venture Group LLC and processed “close to $60 million in ACH transactions in furtherance of the illegal scheme.” Rex Venture…
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SPECIAL REPORT: Attorney Linked To Zeek’s Wright-Olivares Has Record Of Disbarment And Suspensions; Possible Co-Agent Spent Time In Federal Prison For Credit-Card Swindle And Was Charged In Arkansas With Theft And Making False Statements To Securities Commissioner; Corporate Registrations Of 2 Firms Linked To Zeek COO And Purported Marketing Maven Revoked
SPECIAL REPORT: (Updated 5:48 a.m. Jan. 7, U.S.A.) N. Donald Jenkins Jr., an Arkansas attorney listed as a registered agent for Wandering Phoenix LLC, a firm federal prosecutors have linked to Zeek Rewards’ figure Dawn Wright-Olivares, was ordered disbarred on May 30, 2013, records show. He thrice previously was ordered suspended from the practice of…
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From Zeek To ‘The Healthy Hog’
EDITOR’S NOTE: A “razorback” is a wild (feral) hog present in certain U.S. states, including Arkansas. The University of Arkansas calls its sports teams the “Razorbacks.” Zeek Rewards Ponzi-scheme figure Dawn Wright-Olivares, an Arkansas resident, recently opened a Clarksville restaurant called “The Healthy Hog.” Though the words “healthy” and “hog” may appear to be in…