BREAKING NEWS: BLGM busted by HKPD, 5 arrested, office locked and dark

According to multiple media reports, Better Living Global Marketing, which operates "Bidder's Paradise" has been raided by Hong Kong Police Commercial Crime Bureau and 5 were taken into custody. Office is locked, and inspectors have confiscated cases of documents as well as computers into evidence.

BLGM basically operates as a Hong Kong clone of Zeek Rewardsd ponzi scheme, with various "winners" paraded as "proof" that the auction works, and then claimed the auction brought in so much profit that it needs investors to expand. However, according to BehindMLM, there were cash flow problems that was first discovered in 2014.

Apple News HK reports:  (translated, original linked below)

HKPD Commercial Crime Bureau has broken up an auction website alleged of using pyramid selling technique to defraud people. The affected company’s Tsim Sai Tsui office is dark and locked yesterday, with many victims knocking on the door looking for redress. Five arrested have made bail and will await trial. The founder of website, Luke Teng, 55, is son of HK’s most famous Christian Church leader Jing-Hui Teng.

The affected company “Bidder’s Paradise Ltd” office at XingWengHua center is locked. Only two people were observed enter. When confronted, one said “I’m a relative of Luke Teng, and the company’s active for two years, and said “We don’t cheat people”, and claimed there will be a press conference later to explain everything, and otherwise, no comment.

OTHER NEWS: Hong Kong Police Investigating BLGM, Zeek Rewards May Issue Refund in few months

Emblem of the Hong Kong Police Force (Photo credit: Wikipedia)

TelexFree grabbed all the headlines, but there are still other news in the Scam world:

Better Living Global Marketing (BLGM) Under Investigation in Hong Kong

According to eKantipur, a news website that specialize in Nepalese issues, Hong Kong police has launched an investigation with BLGM, along with KaChing and RSE Bid. RSE Bid has already closed and owner is in police custody, according to the news. Up to 2 BILLION Hong Kong dollars may have been lost to these 3 schemes from HK Nepalese, according to the article.

Please read the original article at  http://www.ekantipur.com/the-kathmandu-post/2014/05/04/money/hk-based-nepalis-at-risk-of-losing-rs-2b/262437.html

Thanks to BehindMLM for spotting the news first.


Zeek Receiver Promise Partial Refund Soon, will Sue Out-of-US Net Winners 

According to an announcement from the Zeek receiver website, the receiver has almost concluded sending out the notices of claims. All of the US "net winners" have been served with notice to pay up, and next comes the foreign "net winners"... who will be sued to the extent the receiver deems economical.

As the lawsuit will likely drag on for months or years, receiver expects to issue a partial payment on the funds collected thus far in a few months if not sooner. (Before end of summer).

Please see Receiver's website, zeekrewardsreceivership.com, for more details.