No idea when it'll be airred at the moment, but it seems the segment has been rescheduled for a later date.
a blog about Skepticism, MLM, Scams, and Critical Thinking
Wednesday, April 3, 2013
BREAKING NEWS: Zeek Reward Ponzi to be featured on Anderson Cooper 360
Anderson Cooper is a CNN investigative reporter and apparently will feature Zeek Rewards ponzi scheme on his special segment "Anderson Cooper 360" tonight, April 3rd, 2013.
http://www.patrickpretty.com/2013/04/03/cnns-anderson-cooper-360-expected-to-air-segment-on-zeek-rewards-tonight/
http://www.patrickpretty.com/2013/04/03/cnns-anderson-cooper-360-expected-to-air-segment-on-zeek-rewards-tonight/
BREAKING NEWS: Lyoness in trouble in home country Austria?
Lyoness, founded in Austria in 2003, is a very strange mix of business. Majority of the business appears to be a shopping loyalty program that basically has the merchant offering rebates, and some of the rebate goes to the shopper, and some of the rebate goes to the shopper's upline. Shopping builds up "units", which results in gift certificates that can be redeemed at more Lyoness participating merchants. However, it is the ability to directly PURCHASE the units that made Lyoness a potential Ponzi scheme.
It was revealed that on March 30th, 2013, ten years after Lyoness opened, hundreds of Lyoness members are banding together to launch class action lawsuits against Lyoness. And it is confirmed that Lyoness had previously settled many of these cases out of court and just refunded the members' money, presumably for the "purchased" units.
Search of news archives also revealed that the Lyoness is also under investigation for being a Ponzi/pyramid scheme by the Public Prosecutor's Office (White Collar Crime division).
Details at
http://behindmlm.com/companies/lyoness-lawsuits-and-investigation-in-austria/
It was revealed that on March 30th, 2013, ten years after Lyoness opened, hundreds of Lyoness members are banding together to launch class action lawsuits against Lyoness. And it is confirmed that Lyoness had previously settled many of these cases out of court and just refunded the members' money, presumably for the "purchased" units.
Search of news archives also revealed that the Lyoness is also under investigation for being a Ponzi/pyramid scheme by the Public Prosecutor's Office (White Collar Crime division).
Details at
http://behindmlm.com/companies/lyoness-lawsuits-and-investigation-in-austria/
Tuesday, April 2, 2013
BREAKING NEWS: Zeek Receiver stated clawbacks starts June 2013
In a new letter posted to Zeek Receiver website, Ken Bell stated that he is extending the deadline for the "net winners" to return money to the Zeek estate by 2 months, but the window WILL CLOSE on May 31st, 2013.
The letter stated that if any one had NOT voluntarily gave back the money by then, or at least offered to settle with him / his lawfirm to return at least a large portion of the money to the Zeek estate to be distributed to the victims, he will assume that they will not do so voluntarily, and thus be subject to clawback lawsuits.
See zeekrewardsreceivership.com for more details.
The letter stated that if any one had NOT voluntarily gave back the money by then, or at least offered to settle with him / his lawfirm to return at least a large portion of the money to the Zeek estate to be distributed to the victims, he will assume that they will not do so voluntarily, and thus be subject to clawback lawsuits.
See zeekrewardsreceivership.com for more details.
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.
I hope the Feds knows where he is, or the NC AG!
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!
Monday, April 1, 2013
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.
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.
Sunday, March 31, 2013
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:
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/
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/
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