Friday, August 17, 2012

Another Ponzi Scheme

People don't learn their lesson . This is another scam that would deprive many people of the money they saved and enrich people who operate she operation. Here is the news:

RALEIGH, North Carolina— Federal securitiesregulators have filed fraud charges and an emergency order to freeze the assets of a North Carolina company officials say operated a $600-million Ponzi scheme that is on the verge of collapse.

The action by the Securities and ExchangeCommission Friday is intended to help investors recoup money and avoid devastating losses.

Online marketer Paul Burks is accused of raising money from more than 1 million customers through, a website in operation less than 2 years.

ZeekRewards customers were offered ways to earn money through the site, including buying unregisteredinvestment contracts that promised a share the company’s profits through rewards points that could be traded for cash payouts.

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