Articles under ‘Zeek Rewards’:

Zeek Receivership updates for first quarter 2017

On May 1st the Zeek Receiver filed his first quarter Status Report for 2017. The report covers settlements received, US and foreign net-winner clawback litigation, various insider lawsuits and the aggregate amount paid out to Zeek affiliates thus far.

SEC granted default judgement against Trudy Gilmond

Trudy Gilmond’s theft of over $2 million dollars from Zeek Rewards victims saw the SEC file legal action against her in 2015. The case progressed throughout 2015 and in early 2016 Judge Mullen scheduled a trial for September, 2017. Not much has happened since then, prompting the SEC to file for a suspension of the current [Continue reading…]

Judge doesn’t buy Beverly Trca-Kitchen’s sob story (Zeek Rewards)

Back in January the Zeek Rewards Receiver filed for summary judgment against Canadian net-winners. Beverly Dawn Trca-Kitchen was one such net-winner, with the Receiver alleging she stole $314,228 from victims of the scheme. This figure was arrived at after forensic accounting was conducted on the Zeek Rewards backend. Trca-Kitchen however paints a different picture.

$314,228 Canadian Zeek net-winner’s $2800 settlement offer rejected

Beverly Trca-Kitchen stands accused by the Zeek Receiver of stealing $314,228 from Zeek Rewards victims. In the wake of Paul Burks receiving jail time for masterminding the scheme, Trca-Kitchen approached the Zeek Receiver with a $2801 settlement offer. Seeming not impressed, the Receivership rejected the offer. In a letter dated March 23rd, Trca-Kitchen has asked the [Continue reading…]

$79,191 final judgement entered against Keith Laggos

With a securities violation already under his belt, Keith Laggos wasn’t in a position to contest his involvement in the Zeek Rewards Ponzi scheme. The SEC saw Keith Laggos as a Zeek insider and sued him for securities fraud on March 22nd. Based on a Statement of Financial Condition Laggos provided last December, a settlement was submitted [Continue reading…]

SEC sues Keith Laggos for promoting Zeek Rewards Ponzi scheme

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…]

Zeek Rewards victims recover up to 75% of losses

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.

Zeek Reciever files 4th quarter 2016 Status Report

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.

Canadian Zeek net-winner trial rescheduled, summary judgement?

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.

Zeek Rewards founder Paul Burks sentenced to 14 years in prison

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.