It has happened again. Explosive court filings by the government show that kneejerk apologists and defenders of High Yield Investment Programs HYIPs and autosurfs are quickly running out of cover when they assert that anything is noble or even real about the programs they relentlessly push for their share of purported profits from introducing others to the schemes.
A law-enforcement task force consisting of the U. Secret Service, the IRS and veteran investigators from other agencies that specialize in reverse-engineering complex money-laundering networks have tied funds from a widely promoted online HYIP to the international narcotics trade and a murky money-services business.
Members of the same Florida-based task force also are involved in the AdSurfDaily autosurf Ponzi scheme investigation. In the ASD case, records show that the company once advertised a debit card federal prosecutors in Connecticut say was offered by a Dallas-based firm that laundered money for a narco business in Medellin, Colombia.
The Dallas firm, known as Virtual Money Inc. VM , also agreed to launder purported drug proceeds in the Dominican Republic, according to court filings.
ASA and TalkGold are infamous for promoting international financial frauds, with posters routinely describing the programs as legitimate. Court filings in the EMG case paint a picture of an incredibly elaborate maze of companies and bank accounts set up to confuse both investors and law enforcement. At least 59 bank accounts, bars of gold and nine luxury vehicles have been seized in the case.
Although ASD is not mentioned in a Task Force affidavit in the EMG case, forfeiture complaints against assets tied to both companies include similar allegations of wanton, relentless fraud. At the same time, research suggests that EMG touted offshore events in exotic locations.
AdViewGlobal, an autosurf with close ties to ASD, also touted offshore venues and once sponsored at least one meeting on a ship at sea, according to members. Meanwhile, research suggests that both EMG and ASD went to great lengths to mask the schemes just prior to interventions by law enforcement and that both schemes had ties to narcotics traffickers and professional money-launderers.
Both the alleged EMG and ASD schemes were operating during the same general time period, roughly between and , according to court filings. Each of the schemes had components of investment fraud that targeted people who spoke Spanish or English. Federal agencies, including the U. The money was seized on Aug.
A section of U. As the investigation progressed, agents established additional money-laundering links — and other bank accounts were seized, according to court filings.
The precise mechanism by which purported investment money ended up in accounts seized in the drug case was not immediately clear. Still promoting autosurfs and HYIPs? Medellin once was home base of the infamous Medellin Cartel, operated by drug lord and terrorist Pablo Escobar. Escobar was killed by Colombia National Police in Autosurf and HYIP promoters long have claimed that participation in the illegal enterprises is harmless.
It was not immediately clear how long ASD used the VM debit card, which was heavily promoted in early when ASD said it was having cash-flow problems. By , ASD said it was generating tens of millions of dollars of revenue per week. The seal was lifted in September , a month after the U.
Secret Service seized 15 bank accounts in the ASD case. In November , the PP Blog reported that the Secret Service expressed a fear in court documents originally filed under seal that ASD President Andy Bowdoin had become aware of scrutiny into his business affairs in and planned to flee the United States. The agency said Bowdoin had moved millions of dollars into Canada just prior to the seizure of his assets. Read a warrant originally issued under seal Aug.
Magistrate Judge Alan Kay, who ordered the U. Some INetGlobal members provided Chinese prospects instructions on how to offload profits onto debit cards that could be used to withdraw cash at ATM machines, according to promotional material for INetGlobal.
The money was described in court filings as commission payments for the Megafund scheme. Stark, one of the defendants in the Megafund case, was convicted in of possessing counterfeit government securities. He was released from prison and was on probation while participating in the Megafund scheme, according to court records. The scheme targeted Christians, and investors were told money was being directed to humanitarian causes.
Like the Megafund and EMG schemes, participants in AdViewGlobal were told a portion of the money was devoted to humanitarian causes, including a purported fund devoted to preserving the rainforest. The donation was used by promoters to position Bowdoin as a benevolent human being.
The payment-processing arm of INetGlobal also has been tied to a Ponzi scheme known as Learn Waterhouse, which purportedly advertised a presence in Mexico, according to court filings.
Four people have been sentenced to lengthy prison terms in the Learn Waterhouse case, some of the underpinnings of which led to the successful prosecution of INetGlobal operator Steve Renner for income-tax evasion in December When the Learn Waterhouse receiver tried to reclaim the funds to make Ponzi victims as whole as possible, the money was not available because Renner had spent it on personal purchases, according to court filings.
Amended Forfeiture Complaint in U. District Court in Orlando. This is a link to a petition signed by some ASD members for the U. Senate to investigate the prosecutors and the Secret Service:. Mukasey Attorney General, Mr. Taylor of the Attorney General Office. The Spanish authorities already published a statement in stating that Finanzas Forex, German Carmona and his sidekick, ex-Dubli crown prince,Santiago Fuentes, were not authorised to deal in Spain, but the scheme has continued to collect followers or better said, victims in the Spanish and English speaking worlds.
Once again, this latest investigation, raises the issue of the ENABLERS — the many payment processors and other elements of the finance industry — who permit the movement of vast sums of money, away from the controls and checks of the legitimate finance industry.
Until these enablers are stopped, the financial fraud industry will continue to attract victims all over the globe. Canada, the Caribbean and Central America have been the countries of choice for the enablers. It is time that their goverments take steps to halt these institutions on their soil continuing to be enablers of crime. To me it seems like an online store offering cocaine for sale and not being shut down by the authorities.
How and why the owners like Jake Amatee and others are allowed to continue to profit by touting such illegal scams amazes me. Actually, the regulators probably are monitoring those forums and I encourage all of the Top Promoters to continue to use these forums to tout your favorite online scams, HYIP, autosurf, etc. A Random Walk Rant Quote. A Random Walk Rant: A small amount of research will easily identify the most commonly used ponzi friendly web hosts and payment processors.
This particular one was also promoted at that other fraud promoting cesspit: Hey how bout this one. To fight in court. And start going after the winners. Your going to JAIL!!!!!!!!! The shameless way that the ponzi pimps promote these schemes and evade issues when they are raised is notable in the MMG link that Tony posted. Good stuff- I have known about this evolution marketing group for some time now..
What about the promoters? The ones who were getting people to sign up? Why dont they go after them? What happend to Cardona? I think Finanzas Forex was big in Panama City, anyone know about this there?
Usually they wait five years and get 10 to 30 cents back on the dollar…. So what happens to the people who lost money?? Just for your informtin: I belive — YES!! How to find them? The people who convinced us to sign up in this business are our friends. I know he has got a kind of resort business in Europe which looks like a type of ponzi scheme. Juliana, I think you may be very diappointed if you are expecting to get any favorable result by contacting Santi Fuentes.
His track record in Europe is well known as he has promoted a series of highly disreputable MLMs, in which lost money. I feel very sorry for anyone who is involved in any business with him. My advice is not to be afraid but to go straight to the authorities. Finanzas Forex through EMG already has some very serious charges against them, madea by the US Federal Authorities, as you will have read in this blog. Perhaps someone can give a link to the correct people to report your case to, but the police is not a bad start.
A group of European investors, mainly from Italy, Spain and Englang, have decided to get together and hire an international law firm which specialises in FOREX trading litigation to assist us with the recovery of the deposits.
Most of the victims dont speak English or are too afraid to deal with SEC directly. The lawyers are still studying the case and collecting the documents, if anyone wants to join in or wants their contact details, send me an email and I will send you their online link and the application form to join this class action group.
Posiblemente muy buenas noticias para los inversores de finanzas forex que tienen sus fondos retenidos por parte del gobierno de estados unidos.
Despues de una larga investigacion hacia evolution market group finanzas forex el gobierno de estados unidos a decidido devolver el dinero a los inversores. Es probable que Estados Unidos no devuelva el dinero a finanzas forex, sino que devolvera los fondos retenidos directamente a los inversores al parecer, para lo cual estan pidiendo envien el siguiente formulario antes del 31 de diciembre:.
Y al parecer lo mismo sucedera con los inversores de Alpha Trade Group quienes tambien podran enviar el siguiente formulario:. No podemos dar por hecho la devolucion de los fondos, probablemente sea algo que aun se este analizando, dejo a criterio de cada persona el enviar los formularios o no. Se desconoce el porcentaje de fondos que se devolvera asi como el tiempo que tardara el proceso, si desean mas informacion pueden contactarse directamente con este organismo en:.
Meaning it is trully gold. Thanks for sending this along. There was a link from Twitter today that went to an Aweber page in Spanish. The claim suggests a preIPO.More...