Why "clawbacks" turn into dross....

Stock and Bond Fraud, including Boiler Rooms / Pump and Dump Schemes, Mutual Fund & Hedge Fund Fraud, FOREX scams, plus Churning, Private Placements, Venture and Bridge Funding, IPOs, Viaticals Fraud, HYIP and Prime Bank scams, MTNs, Historical Notes, Recovery Schemes, etc. Includes the Jim Norman Project and the Michael Dotson Project and similar HYIP scams.
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Gregg
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Why "clawbacks" turn into dross....

Post by Gregg »

This makes me want to toss a brick at my computer screen.

Oscar H. Brown & Robert Mecham Zeek Rewards settlements pending
They did however acknowledge their collective receipt of over $1 million in stolen investor funds, and that USHBB’s corny videos helped perpetuate Zeek Rewards’ fraudulent activity.

Both Brown and Mecham have agreed to a partial Confession of Judgment for $1 million dollars.

The actual dollar amount Brown and Mecham are returning to the Receivership is $37,500 each
They actually stole over $1.8 million, had downlines responsibility for millions more in losses, and that's right, they're paying back $37,500.

Both are, of course, serial scammers, and both remain active in online scams, now touting various Crypto ICO ponzi schemes.
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Gregg
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Re: Why "clawbacks" turn into dross....

Post by Gregg »

From other BehindMLM entries...
And also: TVI Express, Global Verge/Buzzirk Mobile, Ad-Ventures4U, AdGateWorld, BizAdSplash.

Ad-Ventures4U, AdGateWorld and BizAdSplash basically were reload schemes that surfaced after the 2008 collapse of ASD. May of the usual suspects were involved.
Narc That Car, AdSurfDaily, Zeek Rewards and OfferHub.

Other than being scams, what do these MLM opportunities all share in common?

They all solicited the promotional services of marketing firm USHBB.

Owned and operated out of Indiana by James Moore, Oscar Brown and Robert Mecham, USHBB provided marketing services to the MLM underbelly.

Now for their efforts in assisting the promotion of some of the most prolific MLM scams to date, the Zeek Receiver has taken USHBB and its operators to court.

At the center of the litigation is the funds USHBB made from Zeek Rewards, including profits made by Moore, Brown and Mecham through direct participation in the $850 million dollar Ponzi scheme.
Supreme Commander of The Imperial Illuminati Air Force
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Re: Why "clawbacks" turn into dross....

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On the other hand, the trustees handling the Madoff Ponzi recovery are claiming that they have recovered approximately 75% of the investors' funds.

The Wall Street Journal explained the strategy: http://webreprints.djreprints.com/4743180552220.html
"I could be dead wrong on this" - Irwin Schiff

"Do you realize I may even be delusional with respect to my income tax beliefs? " - Irwin Schiff
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Re: Why "clawbacks" turn into dross....

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And Bernie Madoff is requesting to be granted compassionate release due to his terminal condition.
"I could be dead wrong on this" - Irwin Schiff

"Do you realize I may even be delusional with respect to my income tax beliefs? " - Irwin Schiff