MoneyMakerGroup

UPDATE: The PP Blog wrote about Biwako Bank Limited on April 29 after it was touted on a Profitable Sunrise Facebook site as a good “program” for individuals ripped off in the alleged Profitable Sunrise pyramid scheme. But now Biwako Bank’s website has disappeared, with the “program” apparently following Profitable Sunrise into the darkness. “**THIS [...]

Sentencing for Legisi HYIP Ponzi scheme pitchman Matthew John Gagnon has been rescheduled for June 18. Gagnon initially was scheduled to be sentenced yesterday, federal prosecutors said earlier this month. Gagnon pleaded guilty to not disclosing he’d been paid more than $1 million by Legisi and operator Gregory N. McKnight to tout the “program” online. [...]

BULLETIN: The SEC has asked a federal judge not to permit a Virginia man to intervene in the Profitable Sunrise HYIP fraud case, saying that the man’s self-filed pleading “would open the floodgates for other investors to file similar motions.” In late April, James Paul Schilling of Mechanicsville effectively asked U.S. District Judge Thomas W. [...]

Sentencing for Legisi HYIP Ponzi scheme purveyor Gregory N. McKnight has been delayed again — this time until Aug. 6 at 1:30 p.m. McKnight had been scheduled to be sentenced today in the Eastern District of Michigan. The postponement marks at least the fifth in the case. Legisi, which had a presence on infamous Ponzi [...]

Biwako Bank Limited caught our attention yesterday after a boat-shark appeared on a Facebook Profitable Sunrise site to promote it while making this claim: “**THIS IS NOT AN HYIP , THIS IS A BANK**” The claim is at odds with a claim on the MoneyMakerGroup Ponzi forum that Biwako has a “GoldCoders’ HYIP Manager License.” [...]

During its 11 p.m. newscast yesterday, WTOL (CBS/Toledo) aired a report titled “Holy Rip-Off” about the alleged Profitable Sunrise HYIP scam. The report, which began with images of Ponzi schemer Bernard Madoff playing in the background, focused on alleged Profitable Sunrise pitchwoman Nanci Jo Frazer of Bryan, Ohio. Frazer and her NJF Global Group are [...]

EDITOR’S NOTE: GlimDropper, an administrator at the RealScam.com antiscam forum, gave PP Blog readers a heads-up on the WTOL report yesterday . . . WTOL, the CBS affiliate in Toledo, Ohio, says it will air a report Thursday (April 25) at 11 p.m. EDT titled “Holy Rip Off.” A teaser for the report shows photos [...]

The Associated Press is reporting that Zeek Rewards operator Paul R. Burks claims that he is not at fault and that Zeek participants are to blame if they lost money. From the AP (via Yahoo News/italics added): “I never told anyone to invest more money than they could afford,” Burks snapped. “I didn’t tell them [...]

UPDATED 11:33 A.M. EDT (APRIL 1, U.S.A.) On April 1, the PP Blog published a story that informs Profitable Sunrise participants on how to contact state and provincial securities regulators in the United States and Canada. That story is here. April 1 was the date the Profitable Sunrise “Long Haul” plan was supposed to pay [...]

EDITOR’S NOTE: Thanks to PP Blog reader “Tony” for pointing us to the British Columbia Securities Commission (BCSC) warning against the Lucra Fund and Goldenarium HYIP schemes. Earlier this month, BCSC issued a warning on the Profitable Sunrise scheme. The British Columbia Securities Commission has issued warnings on HYIP “programs” known as Lucra Fund and [...]

EDITOR’S NOTE: Information from Tennessee was received after this story was published. The Tennessee info is published in the Comments thread below . . . UPDATED 8:18 P.M. EDT (U.S.A.) Louisiana has issued an Investor Alert on the Profitable Sunrise HYIP, joining a growing list of U.S. states and Canadian provinces to have done so. [...]