Tag: Zeekler
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URGENT >> BULLETIN >> MOVING: Zeek Receiver Moves For Summary Judgment Against Class-Action Clawback Defendants; Kenneth Bell Says Defense Expert Witness Has Found No Evidence That ‘Disproves That The Business As A Whole Operated As A Ponzi Scheme’
URGENT >> BULLETIN >> MOVING: (3RD UPDATE 6:11 P.M. EDT U.S.A.) On virtually the eve of the criminal trial of Paul Burks, receiver Kenneth D. Bell has asked the court presiding over a huge class-action lawsuit against 9,400 alleged Zeek “winners” for a finding the MLM program was a Ponzi scheme. Such a finding would mandate…
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Some Zeek Claimants From Outside The United States Unable To Deposit Distribution Checks; Receiver Provides Guidance
Kenneth D. Bell, the Zeek Rewards receiver, published an announcement last night that certain Zeek claimants from outside the United States who received a distribution check were unable to deposit it. Here is the announcement, dated Oct. 30, 2014 (italics/bolding added). ANNOUNCEMENT FROM THE RECEIVER – October 30, 2014 Various foreign claimants have reported that…
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BULLETIN: Receiver Sues Zeek ‘Winners’ In Canada
BULLETIN: New court filings today in the Western District of North Carolina show that the court-appointed receiver in the Zeek Rewards Ponzi- and pyramid-scheme case has sued 26 alleged “net winners” in Canada. Each of the defendants allegedly received at least $50,000, according to filings by receiver Kenneth D. Bell. More . . .
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SEC Declines To Comment On New Claims Attributed To Zeek Figure Robert Craddock
UPDATED 8:30 P.M. EDT U.S.A. The SEC this afternoon declined to comment on a confounding claim attributed to Zeek Rewards figure Robert Craddock that Zeek took in $1 billion in 12 months and that the U.S. government should have modeled a “stimulus program” after Zeek instead of shutting it down in 2012. News that Craddock…
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BULLETIN: Zeek Receiver Issues More Than 90,000 Checks
BULLETIN: Kenneth D. Bell, the court-appointed receiver in the Zeek Rewards pyramid- and Ponzi-scheme case, says he has issued and mailed 90,297 checks “to Affiliates that hold Allowed Claims as their first interim, partial distribution.” The SEC has decribed Zeek as a fraud scheme that gathered hundreds of millions of dollars. The first round of…
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URGENT >> BULLETIN >> MOVING: Zeek Receiver Sues MLM Attorney Kevin Grimes For Sum In Excess Of $100 Million
URGENT >> BULLETIN >> MOVING: (11th Update 9:43 p.m. EDT U.S.A.) The court-appointed receiver in the Zeek Rewards Ponzi- and pyramid case has sued MLM attorney Kevin Grimes and the Grimes & Reese law firm, alleging malpractice, negligence and breach of fiduciary duty. In the Grimes action, the receiver is seeking “an amount in excess…
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BULLETIN: $30 Million Claim Filed By Zeek Affiliate Who Appears To Have Invested Only $10, Receiver Says
BULLETIN: (5th Update 9:20 p.m. EDT U.S.A.) How absurd and abusive is HYIP Ponzi Land? The court-appointed receiver in the Zeek Rewards Ponzi- and pyramid case says a Zeek affiliate who appears to have invested only $10 has filed a claim seeking $30 million. Receiver Kenneth D. Bell asserted in a court filing today that…
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Zeek Receiver Proposes Date For First Interim Distribution
Kenneth D. Bell, the receiver in the Zeek Rewards Ponzi- and pyramid case, has asked a federal judge to set Sept. 30 as the date of the first interim distribution to victims. Senior U.S. District Judge Graham C. Mullen of the Western District of North Carolina must approve the proposal and other scheduling logistics proposed…