BREAKING NEWS: SEC shuts down eAdGear (GoFunPlaces / GoFunRewards)

According to latest article on BehindMLM, eAdGear, the folks behind GoFunPlaces / GoFunRewwards are done... shut by SEC, with help of FBI, and authorities in Hong Kong, China, Canada, and United Kingdom.

This would mark the FOURTH Ponzi shut by SEC in this year alone (WCM, Zhunrize, and TelexFree)

See http://behindmlm.com/companies/sec-shuts-down-eadgear-gofunplaces-gofunrewards/

BREAKING NEWS: Zhunrize closed as $100 million ponzi/pyramid scheme by SEC

Breaking news: Zhunrize, an alleged e-commerce platform that was pitched as "Internet store you can own" for $3000 a pop has been closed by SEC as a pyramid scheme where joiners are encouraged to recruit more joiners and get paid if they do so.

SEC has obtained a full Federal money freeze order from court in Georgia and have frozen all assets belonging to Zhunrize, and cited stats of up to 70000 victims who handed over 105 million dollars.

http://www.courthousenews.com/2014/09/23/71668.htm

Behind MLM had previously done a review of Zhunrize where it concluded this can only be a ponzi scheme. I have provided additional comment that this is just "Skybiz" pyramid scheme reinvented for 21st century... using the same lure: ecommerce.

http://behindmlm.com/companies/zhunrize-review-a-3000-e-commerce-platform

This marks the THIRD major Ponzi scheme shut down in 2014 ... TelexFree, WCM777, AND now Zhunrize.

NEWS UPDATE: Quite a lot of catching up with all sorts of news updates regarding Ponzi, potential Ponzis, and such

Okay folks, sorry for not updating the blog for a week or so. Had been busy doing some other stuff... like playing way too much Doctor Who Legacy. Any way, articles are coming back next week. In the meanwhile there are some news to tide you over.

Remember, I link to the source, so click through if you want more details. Don't believe random people telling you some sort of news, then provide a link to their own website with no further citings.

Howard Kaplan claims he cannot be negligent regarding Zeek Rewards

In June Zeek Rewards receiver Ken Bell sued Howard Kaplan (the tax attorney who advised Zeek Rewards at a widely publicized event) and MLM lawyer Kevin Grimes for legal malpractice. Kevin Grimes have been since ousted from what used to "Grimes and Reese PLLC", and the company renamed "R & R Law" with a new partner in his place. We learned, on in late July / Early August 2013, Howard Kaplan's attorney(s) has denied any responsibility and wants to case to be dismissed, not because they're not guilty, but because they argue that a guilty party (i.e. Zeek) cannot sue its consultants/lawyers for malpractice because of "in pari delicto", a legal term that roughly means "both are equally at fault". Zeek Receiver Ken Bell have since fired back a reply to the court that Kaplan's reasoning is flawed, and urge the case to continue.

See BehindMLM article:  http://behindmlm.com/companies/zeek-rewards/howard-kaplan-gave-bad-legal-advice-to-850m-ponzi/#more-19145

Which contains links to the actual court documents, courtesy of ASDUpdates.