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Zeek Rewards is the largest Ponzi scheme in the US in terms of victims involved, with up to 1 million victims all over the world, and current figures puts it at $850 million, primarily middle-class victims.
Both Dawn and Dan had already plead guilty to the civil charges by SEC and agreed to cough up almost 11 million dollars, the amount they got from Zeek during its run, as a part of the plea deal.
US Attorney's office has no comment on the case, citing ongoing investigation.
It is not know if other members in the Zeek Rewards scheme (including head Paul Burks, Darryl Douglas, and some later comers who only joined in the final months, hoping to clean up the mess that can't be cleaned up) will be charged as well.
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Almost 57% percent of funds held by net winners had been recovered. First disbursement of funds may start in a few months. Lawsuits against remaining net winners will start ASAP.
A different article revealed that both Paul Burks and Dawn Wright-Olivares have ties to MLM... Burks allegedly was in Amway, and Dawn was in Mary Kay and several other MLMs.
I don't know how true this is but...
ReplyDeletehttp://www.proceso.com.mx/?author=286120
Wouldn't surprise me if it's true. Pyramid schemes are a good way to do money laundering, as there's a lot of money flowing in and out. David Murcia Guzman's DMG Grupo in Colombia was widely believed to be a front for the Colombia Cartels to do money laundering, and after the Panamanians nabbed him, and sent him to Colombia, Colombia officials sent him to the US to be tried for money laundering and he's still in jail in the US. When he gets out, he'll be sent back to Colombia for a trail there and spend MORE years in jail.
DeleteI recall reading, must have been on saltydroid.info that a DEA informant recorded one of the Mexican cartel members boasting that he can smuggle money out of the US... by using an Herbalife account.
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