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| Journal of Forensic Accounting (Photo credit: Wikipedia) |
According to Bell, forensic accounting (i.e. tracing the money trail) had lead him to believe that both eWallet companies still hold "receivership assets" (i.e. money that belongs or should belong to Zeek). And he will continue to investigate and seize those funds.
The filing also indicated that Bell is ready to sue those eWallet providers for damages by allowing affiliates to withdraw ill-gotten illegal profits from Zeek even after the receivership had notified them to freeze all assets related to Zeek Rewards ponzi.
Bell's filing is an eye-opener as it shows that the entire Ponzi scheme is essentially a huge money laundering operation, with fraud on virtually every level. Some employees are listed as independent contractors, and vice versa, which is potential tax fraud. There was also major problems with many of the 1099s issued by Zeek for its affiliates, forcing receiver's office to redo a lot of the 1099s. (More tax fraud) Money was moved in and out and barely tracked, leading to ten thousand checks sitting uncashed in Zeek office when it was shut down. (Bank fraud when no banks or processors want to deal with it) Furthermore, USHBB, Zeek's video producer, claimed it was owed over $800000 while Zeek had once listed head of USHBB as an EMPLOYEE.
Unraveling this mess will not be cheap, and certainly not with other lawyers attempting to DELAY the process by filing frivolous objections.
http://www.patrickpretty.com/2013/05/01/receiver-alertpay-and-solidtrustpay-may-hold-additional-zeek-assets-forensic-team-is-working-to-investigate-and-seize-those-funds/
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