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Tag: SEC

SOUTH CHINA MORNING POST: American Among 5 Detained In Hong Kong Pyramid-Scheme Investigation; Unidentified Firm Said To Promote ‘Cloud-Based’ Internet Apps And To Have Gathered Nearly $100 Million

FLASH: The South China Morning Post is reporting that an American and four others have been detained in a pyramid-scheme investigation involving HK$750 million (about U.S. $96.7 million). The publication did not identify the detainees. Nor did it identify the company, which is said to promote “cloud-based internet productivity and communications applications” and to be…

Nov 8, 2013
OUR ANSWER: ‘Nuts!’ PP Blog Receives Threat That ‘Authorities’ Will Move Against It If It Doesn’t Remove Content About Profitable Sunrise Figure Nanci Jo Frazer And Others; Email Claims FBI ‘Fully Aware Of All Your Consistent Attempts’ To Harm Frazer Group

“No!” Make that “Hell no!” — or, as Gen. Anthony McAuliffe once famously scribbled at the prompting of Gen. Harry W.O. Kinnard during the Battle of the Bulge, after soldiers for the Nazi Third Reich demanded surrender: “Nuts!” At 12:11 a.m. ET today, the PP Blog inexplicably received five duplicate emails from an IP in…

Nov 6, 2013
‘Minister Of The Gospel’ Accused Of Offering Undercover Agent Discount To Join ‘Secret’ HYIP Program Found Guilty Of Wire Fraud And Conspiracy

EDITOR’S NOTE: It doesn’t come any crazier than HYIP prime-bank schemes. This is another example . . . UPDATED 7:47 P.M. ET (U.S.A.) Moses Onciu, a self-styled “Minister of the Gospel” and director of David and Goliath International Ministries Inc. of Fountain Hills, Ariz., has been found guilty in federal court in California of HYIP-related…

Nov 5, 2013
BULLETIN: U.S. Citizen Presiding Over New Zealand Firms Ran Ponzi, Stole Millions And Was Aided By Pitchmen In Utah And Louisiana, SEC Says

BULLETIN: The SEC has gone to federal court in the Central District of California and alleged that a U.S. citizen running companies in New Zealand and relying on pitchmen in Utah and Louisiana operated a Ponzi scheme and stole millions of dollars from investors. A federal judge has approved an emergency asset freeze, the SEC…

Nov 4, 2013
URGENT >> BULLETIN >> MOVING: SEC Charges 3 Executives, 8 Promoters Of Alleged ‘Worldwide’ Pyramid Scheme Operating From Hong Kong, Canada And British Virgin Islands; ‘CKB’ And ‘CKB168’ Fraudsters Allegedly Targeted Asian-American Community, Agency Says

URGENT >> BULLETIN >> MOVING: 3RD UPDATE 5:46 P.M. EDT (U.S.A.) The SEC says it has gained an asset freeze and charged three executives and eight promoters of a worldwide pyramid scheme operating through five entities from Hong Kong, Canada and the British Virgin Islands. Promoters of the scheme, which “purportedly” sells Internet-based children’s educational…

Oct 17, 2013
PROFITABLE SUNRISE CASE: Did Fake Reporter Use Photo Of Real Reporter In ‘Story’ Titled ‘Nanci Jo Frazer WINS in Court – A Case Of Innocent Ignorance?’

“The judge ruled in Nanci & David Frazer’s favor along with Albert Rosebrock (ministry board members) . . . to release frozen funds. The FBI and the Federal government is categorizing Frazer as having suffered from a case of ‘innocent ignorance’ as she worked for nine months doing customer support for a UK Collateral Loan…

Oct 15, 2013
EDITORIAL: Zeek: The ‘Reverse Rolaids’ Of MLM

Rolaids products are back on store shelves after a recall that lasted nearly three years — and that may come as particularly good news for sufferers of the ongoing Zeek Rewards sickness. And with the TelexFree MLM story potentially churning hundreds of thousands of stomachs and getting stranger and stranger with each passing week, Rolaids…

Oct 7, 2013
BULLETIN: SEC Sanctions Troy Dooly For Zeek-Related Work; MLMHelpDesk Blogger Ordered To Pay More Than $6,000 In Disgorgement, Penalties And Interest

BULLETIN: (UPDATED 9:04 P.M. EDT (U.S.A.) The SEC has sanctioned MLMHelpDesk Blogger Adam “Troy” Dooly, amid allegations he accepted money from the Zeek Rewards MLM “program” operated by Rex Venture Group LLC without disclosing to Blog readers and radio listeners that Rex “was paying him” to publicize the Zeek venture. Section 17(b) of the Securities…

Sep 30, 2013
BULLETIN: Florida Woman Sued Civilly, Charged Criminally In Alleged Ponzi- And Affinity-Fraud Scheme Targeted At Colombian-Americans

BULLETIN: The SEC has sued a Florida woman, amid allegations she swindled Colombian-Americans and other Colombians in a $4 million Ponzi scheme that duped investors into believing her purported “immigration bail bonds” program was backed by the FDIC and an “investment broker” later blamed for payout delays. The woman — Jenny E. Coplan of Tamarac…

Sep 30, 2013
BREAKING BAD: Already-Convicted Narcotics/Firearms Felon With Peripheral Tie To AdSurfDaily And Zeek Ponzi Cases Pleads Guilty In ‘Commodities Online’ Caper After Saying He Approved Another Felon’s Request To Transfer More Than $5 Million To Mexico On Heels Of SEC Subpoena

EDITOR’S NOTE: In case you haven’t seen the series finale, there are no spoilers in this post. “Breaking Bad” ended its original run on AMC, and America said goodbye (or good riddance) to Walter White, the money-launderer next door, last night. The fictional White, of course, had been pursuing clandestine wealth, recklessly disregarding the safety…

Sep 30, 2013
URGENT >> BULLETIN >> MOVING: SEC: Las Vegas-Based Ponzi Scheme Targeted Japanese Investors, Gathered At Least $800 Million, Planned To Have New Marks Prop Up The Massive Swindle — And Started In 1998

URGENT >> BULLETIN >> MOVING: (SECOND UPDATE 4:28 P.M. EDT (U.S.A.) The SEC says Edwin Fujinaga and his company MRI International Inc. were operating a Ponzi scheme from 1998 onward that gathered at least $800 million and targeted Japanese and other investors. After MRI received a letter in March 2013 from the SEC instructing it…

Sep 26, 2013