The receivers currently reimbursing victims of Zeek Rewards are now going after the big recruiters as well. This sends out a clear message to ALL recruiters into PONZI schemes that the money they supposedly 'earned' will all have to be paid back and they are also likely to face prosecution as well.
The big recruiters who contributed to the Banners Broker Ponzi Scheme had better watch their backs.
http://asdupdates.com/wordpress/archives/6340
Tuesday, 24 February 2015
Wednesday, 18 February 2015
SEC investigates Achieve Community
This has just been released by the SEC:
Washington D.C., Feb. 18, 2015 —
The Securities and Exchange Commission today announced fraud charges and an emergency asset freeze against two operators of a Colorado-based pyramid and Ponzi scheme that promises investors extraordinary returns of 700 percent through a purported “triple algorithm” and “3-D matrix.”
In a complaint unsealed yesterday afternoon in federal court in Denver, the SEC alleges that Kristine L. Johnson of Aurora, Colo., and Troy A. Barnes of Riverview, Mich., have raised more than $3.8 million since April 2014 from investors they enticed into buying positions in their company Work With Troy Barnes Inc., which is doing business as “The Achieve Community.” In Internet videos and other web promotions, investors were pitched “you and anyone you know can make as much money as you want” by purchasing positions that cost $50 each, and as they progress through the matrix they would receive a $400 payout on each position within three to six months. Barnes claimed to have hired a seasoned programmer to perfect the triple algorithm investment formula supposedly generating the extraordinary returns.
The SEC alleges that while Johnson and Barnes explicitly claimed their program was not a pyramid scheme, their company has no legitimate business operations and they are merely paying purported investment returns to earlier investors as they receive funds from new investors. Meanwhile, Johnson and Barnes have been making cash withdrawals of investor funds for such personal uses as buying a new car and paying credit card bills.
“Johnson and Barnes allegedly claim to be operating a successful investment program when in fact they are taking funds from new investors to pay phony profits to earlier investors,” said Julie Lutz, Director of the SEC’s Denver Regional Office.
The SEC’s complaint alleges that Work With Troy Barnes, Johnson, and Barnes violated Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5. The SEC’s complaint names Achieve International LLC as a relief defendant for the purpose of recovering ill-gotten gains from the scheme in its accounts. The Honorable Robert E. Blackburn, U.S. District Judge for the District of Colorado, granted a temporary restraining order that in part freezes the assets of Johnson, Barnes, and their company.
The SEC’s investigation, which is continuing, is being conducted by Jeffrey Felder, Kerry Matticks, and Jay A. Scoggins in the Denver office. The SEC’s litigation is being led by Nicholas Heinke of the Denver office. The SEC appreciates the assistance of the Colorado Division of Securities.
Washington D.C., Feb. 18, 2015 —
The Securities and Exchange Commission today announced fraud charges and an emergency asset freeze against two operators of a Colorado-based pyramid and Ponzi scheme that promises investors extraordinary returns of 700 percent through a purported “triple algorithm” and “3-D matrix.”
In a complaint unsealed yesterday afternoon in federal court in Denver, the SEC alleges that Kristine L. Johnson of Aurora, Colo., and Troy A. Barnes of Riverview, Mich., have raised more than $3.8 million since April 2014 from investors they enticed into buying positions in their company Work With Troy Barnes Inc., which is doing business as “The Achieve Community.” In Internet videos and other web promotions, investors were pitched “you and anyone you know can make as much money as you want” by purchasing positions that cost $50 each, and as they progress through the matrix they would receive a $400 payout on each position within three to six months. Barnes claimed to have hired a seasoned programmer to perfect the triple algorithm investment formula supposedly generating the extraordinary returns.
The SEC alleges that while Johnson and Barnes explicitly claimed their program was not a pyramid scheme, their company has no legitimate business operations and they are merely paying purported investment returns to earlier investors as they receive funds from new investors. Meanwhile, Johnson and Barnes have been making cash withdrawals of investor funds for such personal uses as buying a new car and paying credit card bills.
“Johnson and Barnes allegedly claim to be operating a successful investment program when in fact they are taking funds from new investors to pay phony profits to earlier investors,” said Julie Lutz, Director of the SEC’s Denver Regional Office.
The SEC’s complaint alleges that Work With Troy Barnes, Johnson, and Barnes violated Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5. The SEC’s complaint names Achieve International LLC as a relief defendant for the purpose of recovering ill-gotten gains from the scheme in its accounts. The Honorable Robert E. Blackburn, U.S. District Judge for the District of Colorado, granted a temporary restraining order that in part freezes the assets of Johnson, Barnes, and their company.
The SEC’s investigation, which is continuing, is being conducted by Jeffrey Felder, Kerry Matticks, and Jay A. Scoggins in the Denver office. The SEC’s litigation is being led by Nicholas Heinke of the Denver office. The SEC appreciates the assistance of the Colorado Division of Securities.
Sunday, 15 February 2015
The Achieve Community - SCAM collapsed.
Its always nice for us to report that scams have collapsed and this ponzi scheme is no exception.
The Achieve Community will no doubt be subject to International Investigation which will take months/years to come to fruition and its founders will no doubt face lengthy jail sentences.
This is, of course, great news, but my focus has always been to help existing affiliates try and get their money back in full NOW.
Ignore what anybody tells you about 'waiting for answers'. These are delay tactics designed to prevent you from claiming your Chargeback with-in the specified legal time limit.
And remember, if your Chargeback Claim is successful, you will have returned to you ALL your money PLUS (in some instances) the interest accrued as well. If you wait for the authorities to sort out the mess you will achieve only a percentage of what you put in.
Please check the Chargeback Clock on this page to see if you're eligible and if you are, please follow the advice on the 'Get your money back - Chargeback' page.
The Achieve Community will no doubt be subject to International Investigation which will take months/years to come to fruition and its founders will no doubt face lengthy jail sentences.
This is, of course, great news, but my focus has always been to help existing affiliates try and get their money back in full NOW.
Ignore what anybody tells you about 'waiting for answers'. These are delay tactics designed to prevent you from claiming your Chargeback with-in the specified legal time limit.
And remember, if your Chargeback Claim is successful, you will have returned to you ALL your money PLUS (in some instances) the interest accrued as well. If you wait for the authorities to sort out the mess you will achieve only a percentage of what you put in.
Please check the Chargeback Clock on this page to see if you're eligible and if you are, please follow the advice on the 'Get your money back - Chargeback' page.
Monday, 9 February 2015
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