Zeek Rewards
By hareshbl
@hareshbl (121)
India
August 18, 2012 9:03pm CST
SEC SHUTS DOWN $600 MILLION ONLINE PYRAMID AND PONZI SCHEME.
This is the title of the article which I have just received from my sponsor in one of the programs I am in. New investors cannot join the program now and old investors are to to paid in an equitable manner. All those who are invested please be careful. I was about to join this program under one of my myLot friends but decided not to do so. I feel so happy and lucky that I did not join. Are you invested in this program?
4 responses
@owlwings (43910)
• Cambridge, England
19 Aug 12
The complete Press Release can be found here: http://www.sec.gov/news/press/2012/2012-160.htm
It should be a warning to anyone who joins a program which promises large returns to people who 'invest' money in it.
Of course, not all programs will be illegitimately paying members out of the money collected from newer members and it is very difficult (if not impossible for the average person) to decide whether a company is legitimate or not. Zeekrewards was only detected because they were offering securities which had not been registered with the SEC. It only then became clear how the company was operating from subsequent investigation.
1 person likes this
.@owlwings (43910)
• Cambridge, England
19 Aug 12
That was just one that I had in mind, ShiroiNooto (and I haven't invested in it so far).
@owlwings (43910)
• Cambridge, England
19 Aug 12
I agree, Topffer. It seems that Zeekrewards was only detected and pulled up because they were doing something specifically illegal which the SEC could nail them for. Although Ponzi schemes ARE illegal, it is impossible to convict someone of an offence unless it can be proven. I'm certain that there ARE people watching all manner of different schemes but it's often expensive and unprofitable to bring a case against them.
@momof3kids (1894)
• Singapore
19 Aug 12
Yes I have invested in this program. But with all my money making, I try to take out all my investments as soon as possible. So with zeekrewards I made only profits. It was VERY good while it lasted.
@sajeevking (5073)
• Mumbai, India
19 Aug 12
Sad news for those who were earning good from this site. but sooner or later its was meant to happen
Luckily i was a free member here and didn't invested but yeah i know few of mylot friends were making good from this site 
well its time to find some other site 
well its time to find some other site 