Tag: Zeek Rewards
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BULLETIN: Receiver Re-Serves Zeek Member Who Sought To Quash Subpoena
BULLETIN: An apparent Florida member of the Zeek Rewards “program” who claimed last week that the court-appointed receiver situated in North Carolina had served a subpoena improperly from the Tar Heel state via U.S. Mail now has been served again — this time through a more expensive process that involved certified U.S. Mail, FedEx and…
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UPDATE: Sentencing For Legisi HYIP Ponzi Swindler Gregory McKnight Rescheduled For Feb. 5
Sentencing for a Michigan man federal prosecutors accused of “semantic obfuscation” for the manner in which his “program” was promoted has been rescheduled for Feb. 5, according to the docket of U.S. District Judge Mark A. Goldsmith of the Eastern District of Michigan. The sentencing delay for Gregory N. McKnight, who conducted the Legisi HYIP…
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Firm Assisting In Zeek Receivership Probe Has Another High-Profile Case; New York Times Reports That Kroll Investigative Firm Discovered ‘Well-Concealed Ponzi Scheme’ At Kabul Bank And ‘114 Rubber Stamps For Fake Companies’
A company retained by the court-appointed receiver in the Zeek Rewards Ponzi scheme case received a prominent mention in the New York Times yesterday. The company, the Kroll investigative firm, uncovered a massive Ponzi fraud at Kabul Bank in Afghanistan in which hundreds of millions of dollars were siphoned from depositors to benefit a “narrow…
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STUNNING: Nearly 1 BILLION Zeek Transactions Over 18 Months, Receiver Says; ‘Sheer Quantity Of Data’ And ‘Inadequate And Incomplete’ Records Necessitate Delay In Filing Of Liquidation Plan
EDITOR’S NOTE: It’s this simple: Ponzi = Pain — and even “ordinary” Ponzi schemes often result in extraordinary paper chases. The Zeek case may be setting a new standard for the extraordinary. The receiver in the Zeek Rewards Ponzi scheme case informed a federal judge today that “the Receivership Team is still in the process…
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UPDATE: Judge Grants Zeek Receiver’s Request To Treat Preliminary Liquidation Plan As Ponzi Case’s First Status Report
Senior U.S. District Judge Graham C. Mullen has granted the request of the receiver in the Zeek Rewards Ponzi scheme case to treat the preliminary liquidation plan filed Oct. 8 as the first status report in the case. Receiver Kenneth B. Bell said earlier this week in court filings that the request, if granted, would…
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BULLETIN: First Round Consisting Of 1,200 Subpoenas Will Go Out This Week To Zeek ‘Affiliates Who Profited Most,’ Receiver Says; More Subpoenas Will Follow; Winners Also Will Receive ‘Letter Offering To Negotiate Voluntary Surrender Of Profits’
UPDATED: 7:08 P.M. EDT (U.S.A.) The court-appointed receiver in the Zeek Rewards Ponzi scheme case has announced that about 1,200 subpoenas will go out this week to “affiliates who profited most from ZeekRewards.” It’s “victims’ money, really,” receiver Kenneth D. Bell said in a letter posted on the receivership website. “The subpoenas ask for financial…
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2 California Members Tell Court Zeek Rewards Left Them ‘On The Verge Of Financial Devastation’
For Californians Walsh J. Young Jr. and May Causing, the Zeek Rewards MLM scheme left them “on the verge of financial devastation,” according to a new filing in the Zeek Ponzi scheme case. The self-written, self-submitted filing by Young and Causing appeared yesterday on the docket of Senior U.S. District Judge Graham C. Mullen of…