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Tag: Speed of Wealth

BULLETIN: Mantria Ponzi Scheme Pitchmen Hit With Millions Of Dollars In Disgorgement And Penalties — And Principals Ordered To Pay Tens Of Millions

BULLETIN: Two pitchmen for the Mantria Corp. “green” Ponzi scheme have been ordered to pay millions of dollars in disgorgement and penalties, including a purported wealth coach who advised people who contacted him after the 2009 collapse of Mantria to join the Trump Network MLM “opportunity.” Mantria purportedly was an environmentally friendly investment opportunity. In…

Sep 18, 2012
Zeek Fallout Almost Too Strange To Contemplate

For starters, Zeek affiliates being approached by upline sponsors and email/website appeals to send in money “to defend Zeek Rewards and all of our independent businesses as per our legal rights of due process” might want to read this July 25 PP Blog post. It’s about how wordplay was used to sanitize HYIP scams. For…

Aug 27, 2012
RECOMMENDED READING: Blogger Recalls His Real-Life Encounter With An MLM Stepfordian And Wonders Whether The Cadillac Ever Will Arrive At His House

EDITOR’S NOTE: Blogger Chuck Miller, who posts on the website of the Albany (N.Y.) Times Union, has a post today on the unique circumstances under which he became a self-described “mark” for an MLM pitch nearly 20 years ago. Seems Miller’s MLM memories linger after nearly two decades. (You’ll learn why by clicking on the link…

Jan 5, 2011
THE MODERN PONZI: Federal Judge Orders Parties Not To ‘Harass’ Receiver In Mantria/Speed Of Wealth Case; Dozens Of Companies Now Ensnared In Litigation

A federal judge has issued an order that effectively puts a court-appointed receiver in control of dozens of entities related to Mantria Corp. and Speed of Wealth LLC in a search for “recoverable assets.” One of the receiver’s duties is to determine if fraudulent transfers occurred between or among companies, according to the order. The…

May 4, 2010
Judge Enters Injunction Against Mantria/Speed Of Wealth Figure Donna McKelvy In ‘Green’ Ponzi Scheme Case; Speed Of Wealth Website Goes Missing

A federal judge has issued an order that enjoins Speed of Wealth principal Donna McKelvy from breaking securities laws and disgorges her ill-gotten gains from the alleged Mantria Corp./Speed of Wealth Ponzi scheme. McKelvy, 43, of Parker, Colo., consented to the order without admitting or denying the allegations in a complaint filed by the SEC…

Dec 17, 2009
RECOMMENDED READING: ‘Speed Of Wealth’ Defendant In Ponzi Scheme Case Pounds Denver Reporter With Offers To Join Trump Network, Other Opportunities

EDITOR’S NOTE: The story below references a column by Renee McGaw in the Denver Business Journal. Make sure you read the column. The link is at the bottom of this story. The column reminded us of what occurred in the opening hours of the prosecution against the assets of Florida-based AdSurfDaily Inc., accused in August…

Dec 3, 2009
Federal Judge Issues Restraining Order, Asset Freeze In Alleged Mantria Ponzi Scheme; Video Featuring President Obama, Former President Clinton And World Business Leaders Pulled From ‘Speed Of Wealth’ Website

In a day of notable irony, the Obama administration announced the creation of an Interagency Financial Fraud Task Force led by the Department of Justice. Critical support functions will be provided by the Treasury Department, the Department of Housing and Urban Development and the Securities and Exchange Commission. One of the first cases the new…

Nov 17, 2009