“Why Bringing ASD down saved the participants, whether they know it or not” by Greggory B. Evans, PhD

Posted by on Jun 25, 2013 in Archive | 0 comments

Why Bringing ASD down saved the participants, whether they know it or not Greggory B. Evans, PhD The members of internet Ponzi scheme Ad Surf Daily ASD Cash Generator are a pretty vocal crowd, and some of them have active imaginations, too. The root cause if this is, like many internet scams, ASD preyed upon people who have an incredible ignorance about business in general and how “real companies” work in particular. Read their own support chat room and you find all manner of “evil government took down a perfectly legitimate company that no one had complained about” themes, some of them absurd enough to claim the prosecutors have in fact admitted they made a mistake but didn’t put it in writing and they’re going to go ahead and put President Andy Bowdoin in jail, simply because they can’t find a way out of the mess without losing face. Let me make this as plain as I can, ASD was a cheap ponzi scheme, new members money was used to pay older members (and of course, Andy managed to skim a few million for himself), there was no outside income and despite a clause in their Terms of Service that did not guarantee rebates, there were in fact at least three references to these payments that could and were construed to conflict with that. Legally, as soon as one dollar of new member money was paid to an older member, they broke the law, case closed. ASD has made a very public fight in the courts, but it’s only impressive to those unschooled in the law, at least one of the major motions filed is the brunt of jokes on a website frequented by attorneys who practice before the federal bar, one lawyer describing it as “read as though they were written by a Christian Scientist with appendicitis.” These filings are clearly intended for the unschooled masses and no one who was ever admitted to the bar thinks they have much chance of prevailing. The “Emergency Motion” filed to release seized funds asked the court to grant an evidentiary hearing, which the government chose not to oppose. The real comedy started when the court then issued subpoenas for the hearing that ASD asked for, only ASD through counsel decided to file to quash these subpoenas and claimed if ASD management was compelled to appear they would exercise their 5th amendment rights and refuse to answer questions. The faithful, as is typical of several of these financial cults of late, somehow managed to paint this train wreck as a quasi-victory, or explained it away as a government plot to entrap the good people in management, one going so far as...

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ASD Second Remission – Important Information

Posted by on Jun 25, 2013 in Archive | 0 comments

ASDRemission.com Is Online, Claim Forms Must Be Mailed In By April 28th The website is active, http://www.asdremission.com. You can get your claim forms there, and make sure you file on time to be considered. The Remission Form along with your supporting documentation must be postmarked no later than April 28, 2013 and mailed to: Ad Surf Daily Remission c/o Gilardi & Co. LLC P.O. Box 8060 San Rafael, CA...

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Paybox.me/Vertapay Scam

Posted by on Jun 25, 2013 in Archive | 0 comments

Towards the end of 2010, there was a program that launched called PayBox.me, which offered you $50 to sign up and up to $20 per day paid to you, with a $5 referral fee payment per person you signed up. On the surface they were trying to emulate PayPal. They offered services such as person-to-person transactions, currency exchanges, online store and small and mid-size business integration with payment processing. To receive the $20 per day required you to log into PayBox.me and complete tasks such as subscribing to their newsletter or completing surveys. All sounds good so far, right? As with all scams, not all is as it seems or what you see is not what you get. Here’s why I say that: You were thinking you were going to be paid in US Dollars, as that is the impression they gave you. But in reality they were paying you PayBox currency. Which by the way PayBox says is “autonomous and independent of all nations and governments.” PayBox.me is not the first program which offers credits/vouchers/units making their currency exchangeable with other currencies. The only problem is you have no guarantee their currency will ever be interchangeable with other currencies. They also like to have their cake and eat it too. For in their TOS (Terms of Service) they say, and I quote: “PayBox.me reserves the right to update and change the Terms of Service from time to time and without notice. Continued use of the Service after changes to the Terms of Service shall constitute your consent to such changes. PayBox.me, in its sole discretion, has the right to terminate your account and refuse any and all current or future use of the Service, or any other PayBox.me Service, for any reason at any time. Such account termination would include the deactivation and deletion of your Account and your forfeiture of any account balance shown in your Account. PayBox.me reserves the right to modify or discontinue, temporarily or permanently, the Service (or any part there of) with or without notice at any time. We reserve the right to refuse service to anyone for any reason at any time. We reserve the right to terminate any account for any reason at any time.” They went on to explain what is PayBox.me currency: “All account balances are held in PayBox currency. PayBox maintains a currency that is autonomous and independent of all nations and governments. The PayBox currency is denominated in dollars and cents (similar to the currency of the United States and over 20 other countries. The value of our currency is estimated to be close to that of the U.S. Dollar. As in the case with any currency, once the PayBox currency becomes openly exchangeable, its value as weighted against all other would currencies...

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F.B.I. Struggles to Handle Financial Fraud Cases

Posted by on Jan 26, 2013 in Archive | 0 comments

By ERIC LICHTBLAU, DAVID JOHNSTON and RON NIXON, October 19, 2008   WASHINGTON — The Federal Bureau of Investigation is struggling to find enough agents and resources to investigate criminal wrongdoing tied to the country’s economic crisis, according to current and former bureau officials. The bureau slashed its criminal investigative work force to expand its national security role after the Sept. 11 attacks, shifting more than 1,800 agents, or nearly one-third of all agents in criminal programs, to terrorism and intelligence duties. Current and former officials say the cutbacks have left the bureau seriously exposed in investigating areas like white-collar crime, which has taken on urgent importance in recent weeks because of the nation’s economic woes. The pressure on the F.B.I. has recently increased with the disclosure of criminal investigations into some of the largest players in the financial collapse, including Fannie Mae and Freddie Mac. The F.B.I. is planning to double the number of agents working financial crimes by reassigning several hundred agents amid a mood of national alarm. But some people inside and out of the Justice Department wonder where the agents will come from and whether they will be enough. So depleted are the ranks of the F.B.I.’s white-collar investigators that executives in the private sector say they have had difficulty attracting the bureau’s attention in cases involving possible frauds of millions of dollars. Since 2004, F.B.I. officials have warned that mortgage fraud posed a looming threat, and the bureau has repeatedly asked the Bush administration for more money to replenish the ranks of agents handling nonterrorism investigations, according to records and interviews. But each year, the requests have been denied, with no new agents approved for financial crimes, as policy makers focused on counterterrorism. According to previously undisclosed internal F.B.I. data, the cutbacks have been particularly severe in staffing for investigations into white-collar crimes like mortgage fraud, with a loss of 625 agents, or 36 percent of its 2001 levels. Over all, the number of criminal cases that the F.B.I. has brought to federal prosecutors — including a wide range of crimes like drug trafficking and violent crime — dropped 26 percent in the last seven years, going from 11,029 cases to 8,187, Justice Department data showed. “Clearly, we have felt the effects of moving resources from criminal investigations to national security,” said John Miller, an assistant director at the F.B.I. “In white-collar crime, while we initiated fewer cases over all, we targeted the areas where we could have the biggest impact. We focused on multimillion-dollar corporate fraud, where we could make arrests but also recover money for the fraud victims.” But Justice Department data, which include cases from other agencies, like the Secret Service...

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Vultures Preying On Zeek Victims

Posted by on Sep 14, 2012 in Archive | 0 comments

Before the dust had settled on the landmark Zeek Rewards closure, the vultures had already started circling.  They went after Zeek members inviting them to come join their program de jour to make up for the lost revenue they just experienced with Zeek’ closure.  This happens every time one of these Ponzi’s is taken down, and of course they claim they are offering humanitarian compassion to Zeek members.  Sadly they just see dollar signs from new recruits to their program de jour. The North Carolina Attorney General issued a warning on their website about being targeted for Reload Scams.  You can read their warning here:  http://www.ncdoj.gov/News-and-Alerts/Alerts/Watch-out-for–reload–scams.aspx Within 48 hours of the closure of Zeek I had counted at least 12 different “opportunities” being pitched to Zeek members to come and join them to recoup their money.  Of these programs they were offering Zeek members to join, eight of them were Ponzi’s themselves, and the rest were other MLM programs. Nothing like jumping from the frying pan into the fire.   These people have no shame. But the lowest of the low has been a group called ZTeambiz, who I call the gang of 12, who claimed they were going to hire a lawyer to file suit against the SEC challenging the SEC actions and Paul Burks Agreement.  They claim they can prove that Zeek was not a Ponzi and the SEC action can be overturned.  Now if they had just stopped there, I could care less.  But what you need to know is this is the same tactic that was tried in the ASD case back in 2008-2012.  There were over 90 of these cases brought to the court trying to sue the government over the closure of ASD.  All were denied because they did not have standing.  The only person in ASD that had “standing” was Andy Bowdoin. The only person who has “standing” in the Zeek case is Paul Burks.  It is a waste of money and the courts time to file these frivolous lawsuits. What you need to know is that the major members of ZTeambiz were Diamond Affiliates (the major promoters of Zeek), and the ones who were being paid millions of dollars per month by Zeek.  So rather than them put their money where their collective mouths are, they solicited Zeek members to join them and help defray the cost of their legal expenses.  But the Zeek member was not to pay the attorney, but pay them to be part of the group.  They formed the Fun Club USA for the purpose of receiving donations.  If you do not pay the attorney, you do not have a client-attorney relationship.  Only those who paid the attorney...

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Zeek Rewards Shut Down By SEC/Secret Service

Posted by on Aug 21, 2012 in Archive | 0 comments

On June 5, we issued a warning about Zeek Rewards and provided our readers to two blog articles that were analyzing Zeek Rewards/Zeekler. We felt these two blog articles were a must read for any member of Zeek as well as anyone considering joining.  We pointed out that since Zeek was a MLM program, this was not in our area of expertise. Due to the demand from my appearance on the Frank Pastore radio show on KKLA-FM, we felt we should do our own review of Zeek in addition to providing the links to the articles. Since appearing on Frank’s show, and posting the Warning on our website, the majority of our inquiries were about Zeek.  Our analysis said this was a disaster waiting to happen, and we began warning anyone who called or E-mailed us to not join Zeek, and if you were in Zeek to get your money out as soon as possible. On Thursday, August 16, Zeek abruptly closed its business office in the middle of the afternoon, had their locks changed, and placed a sign in the front window the office would be closed the rest of the week.  Then on Friday morning it was announced that the SEC/Secret Service had shut-down the entire operation of Zeek, and had frozen all their bank accounts around the world and all assets. Here are the official documents regarding this closure: SEC Press Release: http://www.sec.gov/news/press/2012/2012-160.htm The SEC Complaint: http://www.sec.gov/litigation/complaints/2012/comp-pr2012-160.pdf Court Appointing Receiver: http://www.ponzitracker.com/storage/order.pdf We highly recommend that you read the entire SEC Complaint so you have an understanding of why this action was taken.  You may contact us for any additional questions you may have by E-mail.  We request no phone calls due to the volume of requests we believe we will receive. We will answer all E-mail requests. Send your E-mail to: eagle@eagleresearchassociates.org.  Your phone number is not needed, just enter 10 numbers.  Please be sure to use a valid E-mail address for us to...

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