BREAKING NEWS: British authorities cracked down on "Profitable Sunrise" HYIP

British Financial Services Authority (FSA) on March 5th 2013 put "Profitable Sunrise" on its warning list of questionable companies and individuals that does NOT have a license to provide investment anywhere in Great Britain. 

Most of the list were setup by fraudsters to "clone" a real company by making one that sounds very close to it but Profitable Sunrise, operated by the Novaks, made the list because it is an HYIP, essentially a pyramid scheme that relies on recruiting more and more people paying into it to pay a huge return to the early investors. Profitable Sunrise apparently operates out of the Czech Republic. 

It's also reported that New Zealand may join the list of countries declaring this HYIP verboten. 

BREAKING NEWS: Alabama also shuts down "Profitable Sunrise" HYIP

According to Patrick Pretty, Alabama has also issued a warning regarding "Profitable Sunrise" HYIP, which was issued a cease and desist by North Carolina only a week or so ago.

For details, see PPBlog report:

http://www.patrickpretty.com/2013/03/06/urgent-bulletin-moving-alabama-issues-warning-on-profitable-sunrise/

BREAKING NEWS: "Profitable Sunrise" HYIP issued "cease and desist" by North Carolina

After the demise of Zeek Rewards, many Zeekheads ended up on Profitable Sunrise, which was one of the dozens of schemes trying to go after Zeekheads. Profitable Sunrise claims to be in UK, but in reality seem to operate in Czech Republic. On February 27th, 2013, North Carolina issued a cease and desist, ordering Profitable Sunrise to cease operating in North Carolina immediately.

Profitable Sunrise is what's known as HYIP, or "high yield investment program", usually a pyramid scheme or a ponzi scheme. Though it often claimed to be associated with more legitimate names or locations. However, investigators associated with state of North Carolina pointed out that funds are wired to a bank in Czech Republic for deposit into Profitable Sunrise, and thus, there's no doubt that it is offering an investment product, and thus, conducting business illegally in state of North Carolina.

Zeek Update: Claims Process ready before end of March 2013

In a letter posted to his website zeekrewardsreceivership.com, receiver Ken Bell said that the claims process will start by end of March 2013, as he expects Judge Mullens to approve the process very soon.

Bell also stated that those "net winners" who have NOT contacted his office to return the ill-gotten gains amicably can expect to be sued in the coming months.

http://www.ponzitracker.com/main/2013/3/1/zeek-receiver-issues-update-will-seek-court-approval-for-cla.html

Related articles

• Zeek judge rejects "Examiner" appointment
• Why do victims prolong the lie?

The Idiocy of Trying to Profit from a Scam Without Violating Any Laws

In a lot of these pyramid schemes and suspicious HYIPs, those who get in early makes money (and those who start such things, of course) and those who got in late lose money.

Thus, it stands to reason that there's a certain... Clique of such people who then starts to index such operations, trying to "time" it, i.e. Make a killing then take the money out before it goes kaput.

Then there's the websites that advertise to those people, and makes a public index of such programs to attract more traffic and more ads.

Why would ANY ONE put their money in these non-sensical products?

People Actually Invest in Program Based on... Astrology?

The more you read about scams, the more you wonder about the victim's sanity.

For example, the SEC just indicted a Florida man, whose investment strategy is based on "lunar cycles".

I kid you not. This is straight from the SEC complaint:

33. The primary principle underlying Persaud's trading strategy was that the gravitational pull between the moon and Earth affects mass human behavior, which in tum affects the stock markets. For example, Persaud believed that when the moon is positioned so there is a greater gravitational pull on humans, they feel down and are therefore more inclined to sell securities in the markets.
34. Persaud failed to disclose he would trade investors' contributions based on lunar cycles and the gravitational pull between Earth and the moon.

In this case, the perp basically never told any one about his strategy, and his investors never asked. Persaud lost 400000 of his clients money trading with his "astrology" strategy, and funneled another 415000 into his and his family's accounts.

You have to admit, this is pretty bogus, but this guy just say "trust me" and some people did. To the tune of millions of dollars.

Some people just have that effect on people.

Bad Argument: "They are all liars!"

All Marketers Are Liars (Photo credit: Wikipedia)

One of the ways the suspicious scheme perpetrators use to keep the minions in line and discredit the critics and victims is a very simple denial: "they are all liars!"

No logic needs to be presented. They are liars. Ignore them.

Clearly, this only works for "victims" who refuse to admit that they are victims, and thus are emotionally involved and thus not letting logic work through the problem, such as

• "Where's the proof that they are liars?"
• "Why would they lie?"

And so on and so forth.

Frankly, any one whose reaction to a customer complaint is "the customer is a lying SOB" (without even a "wow, I have to look into it") does not deserve your money.