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.)
FMA’s announcement described Profitable Sunrise as “illegal,” saying the “program” also is known as ProSun and is being advertised on YouTube by an individual named Robert “Bob” Hughes. The “NJF” initials appear to stand for Profitable Sunrise promoter Nanci Jo Frazer of Ohio. The NJF Global Group now appears to be calling itself “The Global Impact Resource Alliance Group.”
North Carolina regulators said late last month that Profitable Sunrise listed a business address in the United Kingdom and was asking that money be sent by wire to the Czech Republic. Warnings subsequently were issued by the state of Alabama, the Financial Services Authority of the United Kingdom and the Canadian provinces of Alberta, Ontario, British Columbia and Quebec.
At least some of the Profitable Sunrise videos attributed to Hughes appear to have been removed from YouTube or to have been blocked from public access. Google cache (from Feb. 10, 2013) shows that the videos also touted NJF Global Group and positioned Profitable Sunrise as a better option than “Banners Broker.” One of the videos was titled “Income From Profitable Sunrise Blows Away What You Can Make With Banners Broker.” Another was titled “Forget Banners Broker & Make Real Money With Profitable Sunrise & NJF Global Group.”
Like Profitable Sunrise, Banners Broker also is being promoted on well-known Ponzi scheme forums such as TalkGold and MoneyMakerGroup.
There were reports today that Banners Broker has been stripped of its ability to distribute money via MasterCard debit cards. Other Ponzi-board “programs,” including Imperia Invest IBC in 2010, have met similar fates. Imperia was met with a cease-and-desist order from Visa. An action by the SEC to halt Imperia’s operations followed.
Other Profitable Sunrise videos attributed to Hughes made headline appeals to populations in entire countries and had titles such as:
- “Our NJF Global Team In Profitable Sunrise Invites Those In New Zealand To Join Us”
- “Our Private NJF Global Team In Profitable Sunrise Is Inviting Those In Korea To Join Us”
- “Our NJF Global Group In Profitable Sunrise Invites Those From India To Join Our Top Team”
- “NJF Global Group / Profitable Sunrise Invites Those In The Philippines To Join Our Private Team”
- “NJF Global Group / Profitable Sunrise Invites Those In Thailand To Join Our Amazing Team”
- “Our Profitable Sunrise / NJF Global Group Invites Those From Germany To Join Our Team”
- “Our NJF Global Group In Profitable Sunrise Invites Those In China To Join Our Amazing Team”
- “Our NJF Global Group In Profitable Sunrise Invites Those In Australia To Join Our Team”
- “Profitable Sunrise – The 2.7% Daily Long Haul Plan Is Closing Soon”
- “Profitable Sunrise – How To Move Money From The Private Plan To The Long Haul Plan”
- “Profitable Sunrise & Our NJF Global Group Really Are Helping People To Retire Early”
- “The Best Way To Join Profitable Sunrise Is Through Our Private Group – NJF Global Group”
Here is the New Zealand warning, as published March 11 (italics added):
Warning: Beware of offerings of securities made by NJF Global Group and Profitable Sunrise
11 March 2013
The Financial Markets Authority (FMA) warns the public of an illegal offering of securities by Profitable Sunrise (Prosun) and/or NGF Global Group which has been advertised on ‘youtube’ by Mr Robert(Bob)Hughes, also known as Bob Hughes.
It is FMA’s understanding that these entities are operating from the UK and the US.
FMA is concerned that Prosun is illegally offering securities to the public in New Zealand in breach of NZ securities law, and warns New Zealanders not to invest in the above entities.
If you have invested with Profitable Sunrise or NJF Global Group, FMA would like to hear from you. Please contact our helpline on 0800 434 567.