Ponzi scheme News

Toronto pastors charged with bilking church members of millions

Toronto - The three pastors, a man and two women, face numerous charges for allegedly defrauding their congregants, family and friends out of $8.6 million in a Ponzi scheme.

In the Media by Arthur Weinreb - 10 comments

Zeek Ponzi Scheme Receiver's offer to ZeekRewards net-winners

Charlotte - Kenneth D. Bell, Receiver of Rex Venture Group, makes an offer for possible settlement and payment terms for ZeekReward net-winners without court action.

In the Media by Lesley Lanir

Zeek Rewards rip-off Ponzi scheme — Latest updates

Charlotte - In August 2012 the SEC filed an emergency complaint in Charlotte, North Carolina to prevent Paul Burks and Rex Ventures making money through operating Zeek Rewards in order to save 'investors' from potentially enormous Ponzi scheme losses.

In the Media by Lesley Lanir - 2 comments

ZeekRewards Zeekler Ponzi scheme profiteers face legal action

Charlotte - Those who profited from ZeekRewards should fess up or Kenneth Bell, the court appointed receiver investigating Rex Venture's alleged $600 million dollar Ponzi scheme, says he will find them and they will face legal action.

In the Media by Lesley Lanir

Bernie Madoff's defrauded victims win $2.48 billion payout

The check is in the mail. Victims of Bernard Madoff, the mastermind of the biggest Ponzi scheme in American History, will soon get $2.48 billion to help recoup their losses, making it the the largest payout since the fraud was exposed in 2008.

In the Media by Yukio Strachan

Singer John Mayer sued over ponzi scheme

Singer John Mayer has been brought into a lawsuit that involves a Ponzi scheme which totaled more than one-hundred million dollars.

In the Media by Owen Weldon

Zeek Rewards and Zeek.com shut down for alleged Ponzi scheme

Charlotte - Those who thought their financial dreams had come true through Zeek Rewards are probably wishing they'd kept their cash in the stock exchange or bank. The Securities and Exchange Commission shut down Zeek.com, declaring it was operating a Ponzi scheme.

In the Media by Lesley Lanir - 11 comments

Bernie Madoff victims to recover $405 million in NY settlement

New York - Hedge fund manager J. Ezra Merkin who invested his clients’ money in Bernard L. Madoff’s Ponzi scheme –– without their knowledge –– will pay more than $400 million under a settlement.

In the Media by Yukio Strachan - 2 comments

Texan billionaire Allen Stanford gets 110-year jail term

Houston - This Thursday witnessed the ex-tycoon and one-time cricket mogul Allen Stanford’s stunning fall from grace, when he was sentenced to 110 years in jail for a $7 billion swindle.

In the Media by Pratidnya Bhat - 3 comments

NY Mets owners to pay $162 million to victims of Bernie Madoff

New York - The owners of the New York Mets settled a lawsuit to victims of Bernie Madoff’s Ponzi scheme that accused the owners of lining their own pockets while willfully ignoring warning signs that Madoff was running a fraud.

In the Media by Yukio Strachan - 1 comment

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