Day: March 14, 2012
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BULLETIN: BurnLounge MLM Operators, Top Promoters Ordered To Pay Nearly $17 Million In FTC Pyramid-Scheme Case
BULLETIN: A federal judge in California has ordered the operators and top promoters of the BurnLounge MLM scam to pay nearly $17 million. The FTC brought the BurnLounge pyramid-scheme case in 2007, saying the program “primarily provided payments to participants for recruiting of new participants, not on the retail sale of products or services.” In…
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BULLETIN: 2 Michigan Men Arrested In Alleged Ponzi Scheme Targeting Senior Citizens; Jeffrey Ripley, Danny Lee VanLiere Charged With Racketeering, Jailed; 96 Felony Counts Filed Against Men And Their Company
BULLETIN: A joint investigation by offices of Michigan Attorney General Bill Schuette and Commissioner Kevin Clinton of the Office of Financial and Insurance Regulation has led to criminal charges of racketeering against two men accused of targeting the elderly in a $9 million Ponzi scheme. Charged in the alleged caper were Jeffrey Ripley, 59, of…