Saturday, March 30, 2013

BREAKING NEWS: New Letter from Zeek Receiver stated claims to start soon

Zeek Rewards Receiver Ken Bell has posted a letter, showing off the proposed claim forms he had submitted to the court for approval. As soon as it was approved, the claims process will start.

You can download the forms under "case documents" from the Zeek Rewards Receiver website

The letter can be read here:

Friday, March 29, 2013

Scammers Know How to Use Freelancers Too

It used to be that scammers who put up fake company websites have horrible ad copy, riddled with bad grammar, spelling mistakes, and so on.

However, scammers realized they are giving themselves away doing that, so they went ahead and fix that... by hiring freelancers through,, or even Craigslist, or legitimate freelancer websites and so on.

One freelance writer claimed to be solicited by a company's representative (whose IP address traced to North Africa) to write a company profile and a pithy byline/slogan for $1000. The company is actually registered in Panama, and they offer three "funds" of different maturity rates. The specification stated that the profile is to be as vague as possible, but plenty of detail about the funds and how it's "guaranteed".

Nothing about regulations, law, legality, international borders, company background, or such.

That guy turned it down, as he suspects he will be helping a scammers setup an HYIP. But others may not be as scrupulous.

So don't let lack of grammer and spelling mistakes "prove" to you that an HYIP "may" be legitimate. There is no such thing.

Thursday, March 28, 2013

BREAKING NEWS: States condemning "Profitable Sunrise" HYIP is now at 31

States that have denounced / condemned / investigating Profitable Sunrise HYIP is now at "31", according to

This is in additional to several provinces in Canada and several other countries.

Yet this is hardly a new problem. FINRA, which is the financial regulatory agency in the US, had issued a warning against HYIPs back in 2010!  Heck, even the US Department of Justice had also issued a warning in 2010, that they WILL crack down on "mass marketing fraud", which is basically Internet-based Ponzi scheme.

Tuesday, March 26, 2013

HILARIOUS: Randall Williams (JubiMax) sues eAdGear, who promptly counter-sues

Randall Williams, whose name was attached to multiple Ponzi-style "matrix" "cyclers" in the previous years, recently had his name attached to GoFunPlaces, a new venture from eAdGear. Randy Williams was also involved in DreamStyle Vacations, a TVI Express clone. TVI Express was chased out of US as a pyramid scheme, and members convicted of fraud in Australia and many other countries. DreamStyle Vacations collapsed not long after TVI Express.

(More information on Randall "Randy" Williams and his prior ventures, such as "Fast Profits Daily")

eAdGear previously made the news as it sued one of its affiliates for defaming it, as well as taking his downlines to ZeekRewards, which turned out to be a Ponzi scheme.

More information on eAdGear lawsuit against Zeek Rewards )

We have reported many times here how Zeek Rewards is very likely a Ponzi scheme, and was proven right when it was indeed shut down by the SEC in August 2012 as a Ponzi scheme. Thus, it take no imagination suspect that eAdGear, which was pitched as an "inferior" to Zeek Rewards by its ex-pitchman, is very likely something of a similar nature.

So, when eAdGear enlisted the help of Randall Williams to start GoFun Places and GoFun Rewards, you can guess that things don't really change for the better. Why else would you need someone whose name was attached to various "cycler" schemes as the head?

Then early in 2013 Randall Williams suddenly parted company with GoFunPlaces, and started up something called JubiRev, where the described compensation plan sounds suspiciously similar to that of Zeek Rewards.

( More about JubiRev)

It was only recently discovered that Randall Williams had sued eAdGear in February 2012, alleging that eAdGear is a fraud and he was mislead into leading it.

( More information about lawsuit )

eAdGear countersued in March 2013, alleging that Randall Williams started a competitor, pilfered the member list of GoFunPlaces, and other malfeasance.

( More information about lawsuit )

Monday, March 25, 2013

People Who Know The Biz is Illegal, then Actively Conceal it, can be PROSECUTED!

A New York woman, who was prosecuted for aiding a Ponzi schemer, was sentenced to 18 months in prison.

This woman was the sole employee of Gen See Capital, a Ponzi scheme ran by Richard Piccoli. She was charged with "misprision of felony" (i.e. not reporting something she knew to be illegal) as well as failure to file tax returns. The scam eventually covered $25 MILLION dollars. Piccoli is currently serving 20 years in jail and full restitution of all funds.

The woman in question admitted that she knew the business was a scam, but did not report it to authorities.

Misprision is still active in US Federal Law

In that the participant actively tried to cover up the crime.

Thus, any one who *knew* the enterprise they are engaged in to be illegal, but continued any way, and in fact, attempt to cover up evidence of wrongdoing, may be charged with misprision of felony, a Federal offence.

Ponzi scheme assistants and cheerleaders... the "inner circle"... beware!

Sunday, March 24, 2013

Ponzi Clawback "victims" get a break from IRS

Ponzi scheme benefactors, i.e. those who actually got more money from the Ponzi scheme than they put in, often face clawback lawsuits from the authorites / receiver / bankruptcy trustee. However, IRS just gave them a break... They need to pay back the clawback, but they can choose to deduct that in EITHER the year they actually paid it back, or file an AMENDED return and deduct it from income of the year this "fake" income was actually received, i.e. reset it to zero.

For example, say the Zeek Rewards "net winner" who got a good income from Zeek in 2012, but is facing a clawback from receiver Ken Bell in 2013 and decide to pay it, can choose to deduct that payment for either 2012 (when the fake income was received) or 2013 (when the clawback was paid).

How this affects the taxe implications would require some number crunching by a proper tax preparer and/or tax attorney.