URGENT >> BULLETIN >> MOVING: North Carolina Orders ‘Profitable Sunrise’ To Cease And Desist; State Calls It An ‘Immediate And Significant Danger’
URGENT >> BULLETIN >> MOVING: The state of North Carolina — home base to the alleged $600 million Zeek Rewards Ponzi scheme — has ordered a purported offshore “opportunity” known as “Profitable Sunrise” to cease and desist from doing business in the state.
Profitable Sunrise purports to be a hard-money lender and investment opportunity. It appears to have attracted some Zeek members both before and after the August 2012 collapse of Zeek. Zeek was under investigation by North Carolina, the SEC and the U.S. Secret Service at the time of its collapse.
In its cease-and-desist order, North Carolina described Profitable Sunrise as “an immediate and significant danger” that is using multiple investment schemes to attract money, including a purported “Long Haul” plan.
The offer is being targeted at people of faith through web-based promoters, some of whom described themselves as Christians. Offering materials for the “Long Haul” plan have advertised an Easter holiday payout.
The company itself has advertised “risk free” payouts with “no chance of default,” according to the North Carolina order. And Profitable Sunrise also claims “investments are insured by a leading investment bank.”
As the PP Blog reported in December, Profitable Sunrise appeared to qualify investors based on their views on hot-button issues, including abortion.
North Carolina’s order names Roman Novak, Radoslav Novak and Inter Reef LTD (doing business as Profitable Sunrise) as respondents, amid allegations by the Securities Division of the office of North Carolina Secretary of State Elaine Marshall that Profitable Sunrise is selling unregistered securities as investment contracts.
Profitable Sunrise lists a business address in the United Kingdom. Regardless, the enterprise is soliciting funds to be sent to Raiffeisenbank AS in the Czech Republic, according to North Carolina investigators. An entity known as Melland Company SRO was listed in Profitable Sunrise wiring instructions as the beneficiary, according to the order.
A credit union used by a North Carolina-based Profitable Sunrise investor blocked at least one transaction directed toward the Czech bank, citing suspicions of fraud, according to the order.
Marshall’s investigators noted that the Profitable Sunrise investor believed that the”Long Haul” plan would pay “interest of 2.7% daily, compounded at 100%, for 240 days.”
Other Profitable Sunrise plans also promised high interest rates in compressed time frames, reaching for sums of between $10 and $2,500 and advertising interest rates of between 1.6 percent and 2 percent a day, according to the order.
Zeek planted the seed that it paid an average of 1.5 percent a day, the SEC said on Aug. 17. On Aug. 4, Zeek claimed on its news site that unspecified “North Carolina credit unions” were creating problems for it.
Visit Profitable Sunrise thread on RealScam.com.