Keith Laggos was involved with Zeek Rewards almost from inception. Laggos joined Zeek Rewards as a paid consultant around June 2011 and shortly after, the company switched from guaranteeing a 125% ROI on every bid purchased, to paying a variable ROI over 90 days. Laggos publicly credited himself as the prime instigator of the change [Continue reading…]
Articles under ‘Zeek Rewards’:
Remember when Zeek Rewards’ net-winner affiliates were running around telling the people they scammed the US government and Receiver were just looking to keep invested funds for themselves? In a March 15th press-release, the Zeek Receiver has announced that, following a third distribution, Zeek victims have now received back up to 75% of their losses.
On February 14th the Zeek Rewards Receiver filed his Status Report for the fourth quarter of 2016. Nothing much new in the report, but it does give us a current status update as to where everything’s at. I’ve included the more interesting parts of the report below under respective headings.
Late last year the clawback trial for Canadian net-winners of the Zeek Rewards Ponzi scheme was rescheduled for February 13th. Last month the trial was rescheduled again for May 15th. Simultaneously, the Zeek Receiver has also filed a Motion for Summary Judgement.
Following a lengthy sentencing hearing today, Paul Burks has been sentenced to fourteen years and eight months in prison. The sentence will likely see Burks spend the rest of his natural life behind bars, as acknowledged by Judge Cogburn during the hearing.
Following a proposal submitted last month by the Receiver, an order has established how much Zeek’s Rewards’ net-winner class will have to pay back. The order makes no amendments to the Zeek Receiver’s initial proposal, which had already been signed off on by attorneys representing the 9000 strong net-winner class.
Last November Summary Judgement was granted against Zeek Rewards’ net-winner class in the US. The Zeek Receiver has been working on a plan to claw back illegitimate earnings from over 9000 net-winner affiliates. On January 17th the Receiver submitted \a proposal to establish how much each Zeek Rewards net-winner will have to pay back.
Victims of Zeek Rewards looking for some final closure are entitled to be heard at Paul Burks’ sentencing. Burks, mastermind of the $850 million dollar Zeek Rewards Ponzi scheme, is scheduled to be sentenced on February 13th.
If you’ve been paying any attention to the rumblings of the MLM underbelly, hours after Donald Trump is sworn in on January 20th Ponzi and pyramid schemes will be declared legal and a new golden era of scamming will be upon us. Until then, February is shaping up to be quite the win for US [Continue reading…]
Following the expiry of a December 31st deadline for Zeek Rewards claimants to file OFAC certification, the Receiver has announced a third distribution payment. Funds had been reserved for OFAC deficient claims, but with the deadline now passed those funds will be distributed to Zeek victims with valid claims.