Wall Street Journal Reports That SEC Shut Down Zeek Rewards Calls It A Ponzi Scheme

Posted on 17 August 2012.

According to the Wall Street Journal, the Securities and Exchange Commission has shut down Zeek Rewards, calling it a $600 million Ponzi and Pyramid Scheme.

Zeek CEO and President, Paul Burks has apparently agreed to pay a $4 million penalty and relinquish his interest in the company.

The court as appointed a receiver to manage the remaining assets and distribute them back to investors.

The company apparently holds $225 million in investor funds in 15 foreign banks.

Those funds will be frozen.

I have written about companies like Zeek at least a dozen times here on MLMBlog since we launched in 2003 and while there will be many associates attempting to paint this site as “negative”, the reality is you can stick a fork in Zeek Rewards, they are done folks.

See previous article about Zeek Rewards Shut Down.

Ty is an Internet Marketer, Blogger and Social Marketing Entrepreneur

View the original article here

The Wall Street Journal reported the SEC shut down Zeek Awards calls it a Ponzi scheme-the system

Posted on August 17, 2012.

According to the Wall Street Journal's filings with the Securities and Exchange Commission has closed Zeek prizes, $ 600 million Ponzi scheme and calling it a pyramid scheme.

Zeek CEO and President Paul Burks has apparently agreed to pay a $ 4 million fine and give up his interest in the company.

As the Court of Justice to appoint a receiver to take control of the remaining assets and distribute them back to investors.

The company owns $ 225 million of investors funds apparently 15 foreign banks.

These assets will be frozen.

I have written at least ten times as Zeek companies here is MLMBlog, since we started in 2003, and although there are many associates to try to paint this site as "negative", the truth of the matter is can stick a fork of Zeek Awards, they are made by people.

See our previous article about Zeek Awards shut down.

Ty is an Internet marketer, Blogger and social marketing entrepreneur

View the original article here