UPDATE: JSS Tripler 2 (T2) Pulls An Andy Bowdoin; T2′s ‘Dave’ Comes Back For Second Bite Of Ponzi Apple To Chorus Of Forum Cheers
The bizarre international spectacle created by JSS Tripler 2 (T2) is continuing — and gets stranger and more insidious by the day. The purported “opportunity,” which is trading on the name of a murky entity known as JSS Tripler and apparently cloning its Ponzi business model, has announced a restart after weeks of existing in a state of suspended animation purportedly caused by the freezing of a one-time T2 business partner’s AlertPay account.
T2 now claims it has regained access to the frozen AlertPay funds.
A week or so prior to T2′s purported restart, promoters of JSS Tripler, the purported “opportunity” upon which T2 based its name, became the subject of a securities investigation in Europe. Ponzi-forum hucksters — some of whom are promoting both T2 and JSS Tripler — scoffed at the CONSOB probe and flooded the MoneyMakerGroup Ponzi forum with “I got paid” posts.
It is axiomatic that all successful Ponzi schemes pay. That an “opportunity” pays is not evidence that no underlying criminality exists. The timing of T2′s restart — indeed, the restart occurred after the Italian regulator CONSOB announced that JSS Tripler promoters were being scrutinized — demonstrates that the serial hucksters driving T2 are turning a blind eye to the serious issues being raised in Europe.
The development is hardly unprecedented, given that core groups of scammers who populate the Ponzi boards and simultaneously maintain their own fraud sites thumbed their noses after law-enforcement moved against “opportunities” such as Pathway To Prosperity, Legisi, Gold Quest International, Imperia Invest IBC and others, including AdSurfDaily.
Like its namesake JSS Tripler, T2 advertises a return rate of 2 percent a day, twice that of ASD. In 2008, the U.S. Secret Service called ASD an international Ponzi scheme. Tens of millions of dollars were seized from bank accounts, and ASD operator Andy Bowdoin later was arrested on charges of wire fraud, securities fraud and selling unregistered securities.
At least $110 million found its way into ASD or related coffers, prosecutors said. Several million dollars were moved into Canada just prior to the seizure of ASD-related assets in August 2008, according to court filings.
In early 2007, according to prosecutors, ASD suffered a Ponzi collapse that in part was blamed on “Russian” hackers. Bowdoin claimed the hackers stole $1 million, but he never filed a police report.
Like T2 did between at least December 2011 and February of this year, ASD existed in a state of suspended animation for months in 2007. Bowdoin eventually restarted the “opportunity” under a different name and different website — ASDCashGenerator, as opposed to AdSurfDaily — and began the process of picking pockets anew, federal prosecutors said.
Unlike ASD, T2 did not claim its payout problems were caused by Russian hackers. Instead, the “opportunity” claimed a onetime business partner known as “Chris,” purportedly living in England, was to blame.
Like ASD, however, T2 claimed it was changing names, morphing from JSS Tripler 2 to T2MoneyKlub. The name change was explained to be part of an overall restart plan in which T2 would create revenue streams by building prefabricated websites and offering them for sale at a tremendous profit. The plan, which appeared to be exceptionally forward-looking while making preposterous assumptions, presented fallacies of logic such as these:
- That T2, operating with an in-house skeleton crew and volunteer members, no declared base of operations and no compliance arm despite reaching into dozens of countries each with a unique set of laws, could at once be a web-service provider while managing a “program” that promised a return rate of 2 percent a day or 730 percent a year on top of recruitment-commission payments.
- That web-service customers would pay a premium for sites built by a murky entity whose operators simultaneously were offering investors returns that would make Bernard Madoff blush.
- That the fees generated by the sale of websites at a future point uncertain somehow could sustain a scheme that promised to pay out twice as much as ASD, whose operator already was under indictment on Ponzi-related charges and had advertised the same sort of payment schemes.
- That there would be any reason at all for T2 to continue to offer an investment program that advertised a ludicrous return if its purported sale of websites could result in handsome, self-sustaining profits for the web-service venture. (Longtime PP Blog readers will recall that the AdViewGlobal (AVG) autosurf claimed at one time that it, too, was morphing into a company that would offer web services as a means of propping up an initial investment scheme. AVG, like ASD, promised to pay out half of what T2 claims. AVG disappeared in June 2009, only weeks after its morphing announcement.)
Also like ASD, T2 preemptively denied it was a Ponzi scheme, despite an absurd confluence of payment schemes in which T2 claimed an ability to pay an annualized return of 730 percent on top of recruitment commissions.
As previously noted, T2′s advertised return rate was double that of ASD, which prosecutors said had no meaningful revenue streams beyond payments by members. Those payments simply were recycled and returned to other ASD members in the form of classic Ponzi payouts.
Even though T2 — like ASD — purported to be changing its name, the name change appears to have hit a snag. T2 initially announced it would emerge as T2MoneyKlub on Feb. 1. That didn’t happen, according to Ponzi-forum chatter, because T2 did not have an AlertPay account in its new name.
T2, according to chatter, then defaulted back to its original name, a circumstance that apparently means the purported “opportunity” can both receive and send money, shelve its new name for the time being and reposition itself under its “old” name to reach into the pockets of new investors.
“Dave,” the purported operator of T2, according to Ponzi-forum chatter, once was a member of JSS Tripler, one of the entities referenced in the CONSOB action. It appears as though “Dave” was unmoved by the CONSOB action, so much so that he restarted JSS Tripler 2 even though claims about namesake JSS Tripler are under scrutiny and the already-radioactive name easily could become even more radioactive in the weeks ahead.
T2 payouts will come from “AlertPay, SolidTrustPay and LibertyReserve,” Dave announced on the MoneyMakerGroup Ponzi forum, posting as “Peakr8.” All three of the named processors have reputation for being friendly to fraud schemes. Both AlertPay and SolidTrustPay are referenced in court files in the ASD Ponzi case.
MoneyMakerGroup member “jieroz” quickly fired up an “I got paid” post for T2 today, saying the $25 payment had come from AlertPay.
Veteran huckster “strosdegoz” quickly congratulated “jieroz.”
“Congrats, that was fast … As usual . . .” strosdegoz blathered.
A poster purportedly from India and using the handle “hemsagar” also joined in the cheers.
“WTG! WTG!” he exclaimed in approval.
A link under the approving post of “hemsagar” led to a “benefactor” promotion in which he claims he’ll pay people to join T2 by sending them money through AlertPay.
Amid the cheerleading in the MoneyMakerGroup T2 thread, “Dave,” posting as “Peakr8,” announced he was taking a trip to “Cambodia.” This trip apparently follows on the heels of a trip “Dave” purportedly had taken earlier from England to Thailand during a period in which T2 was not paying members.
“Dave” conceded that T2′s restart had resulted in problems at T2′s in-house cheerleading forum.
“I know there are bugs, but we will stamp on em one by one when I get back from Cambodia,” Dave posted on MoneyMakerGroup as “Peakr8.”
Below that post, another post from “hemsagar” appears. Although his brief MoneyMakerGroup bio at the left of the post claims he is from India, his post about the bugs in the T2 forum makes this claim:
“Its back up here in the Ukraine.”
Whether “hemsagar” is a citizen of India now living in Ukraine is unclear.
Serial huckster “strosdegoz” later proclaimed “we need to pump up” the T2 forum and “also . . . every place else.
“I have to do my dozens of forums too,” strosdegoz acknowledged.
Regulators have warned the public repeatedly that scams involving hundreds of millions of dollars are spreading virally on the Internet through forums and social-media sites. Pathway to Prosperity, which was pushed on the Ponzi forums, eventually made its way to 120 countries, according to court filings.
The scheme had a take of more than $70 million and created at least 40,000 victims, according to court filings.
ASD may have created a similar number of victims, according to court filings. Legisi and Imperia Invest IBC also created victims by the thousands, investigators said.
Included in the Imperia victims’ count were thousands of people with hearing impairments, investigators said.