BREAKING NEWS: Where is Zeek head Paul Burks?

According to WFMY Channel 2 news, Paul Burks, head of Zeek Rewards, is no longer in Lexington. They moved out a month ago, and his house is for sale, his current location unknown.

News 2 went to Paul Burks' home in Lexington on Monday. Last time we were there in August, there was a security guard out front. On Monday, no one answered the door and a "for sale" sign was on the front lawn.

http://www.digtriad.com/news/article/278078/57/Zeek-Rewards-Goes-After-Winners

I hope the Feds knows where he is, or the NC AG!

Bad Argument: The myth of "no saturation"

One of the simplest argument against pyramid schemes (and similar schemes that requires chain recruiting) is that sooner or later the market will saturate, and you run out of people who's not in the scheme and may want to be, i.e. "leads", "prospective members". That is why some of the more ridiculous counterarguments are against this specific fact. Some MLMers actually believe "there is no saturation".

First, let us examine the idea of "saturation", then examine the various counterarguments that MLMers proclaim.


Saturation

Saturation in general refers to the condition when the market is "overserved", that there are too many sales reps competing for the same number of customers.

However, in MLM and chain-recruitment schemes, it could also refer to "lack of prospective new members" that will join because local market have been "mined out". Clearly, it is a valid and potentially disastrous condition for recruitment based schemes.

Consider this: Let's say in a town of 1000, 5%, or 50 may be willing to join a MLM. Clearly, the first guy in will try to reach all 50 people possible. And obviously the town can't take 2 or 3 different reps all trolling for recruits. There are simply no more people to be had. It is saturated.

So how do some of these diehard arguers claim saturation does not exist? Primarily through two arguments: international reach, and new customers.

USA Today / AP stated NC Town Poorer after Zeek Rewards Ponzi

According to USA Today report, authorities have received word that Zeek Rewards was a scam back in November 2011. Attorney General of North Carolina passed the buck to other agencies, and none took any action. It took another 9 months (and hundreds of thousands more victims and millions of dollars fed into the Ponzi) before it was finally shut down.

Even today, Paul Burks blames the victims for losing their money. According to the story:

"I never told anyone to invest more money than they could afford," Burks snapped. "I didn't tell them to do that. Never."

He said if they lost money, "it's their fault. Not mine. Don't blame me."

How can people NOT blame the head of the largest Ponzi scheme in the US (in terms of victims, at over a million) for the Ponzi?

That's like blaming rape victim for "acting slutty", or mugging victim for "being weak", or shooting victim for "begging to be shot".

That is just bogus, and bull****.


http://www.usatoday.com/story/money/business/2013/03/30/authorities-600m-scheme-incubated-nc-town/2037975/

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

http://zeekrewardsreceivership.com

The letter can be read here:

http://zeekrewardsreceivership.com/pdf/3-29-13%20-%20Letter%20from%20the%20Receiver.pdf

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 Freelance.com, eLancer.com, 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.

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 PatrickPretty.com

http://www.patrickpretty.com/2013/03/27/update-new-hampshire-joins-30-other-states-or-provinces-in-issuing-profitable-sunrise-warning/

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.

http://www.finra.org/Newsroom/NewsReleases/2010/P121734
http://blogs.justice.gov/main/archives/820

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 )