Oct 3, 2012

Zeekler Payback: How Long Will it Take?

The Zeek Receivership Lawyer (in charge of whether or not people get refunds from Zeek Rewards) says it will be a “long time” before any of the estimated 2 million people see a refund…

RALEIGH, N.C. (AP) — The receiver for a North Carolina company which officials say operated a $600 million Ponzi scheme that is on the verge of collapse says as many as 2 million people may have invested in ZeekRewards.com.
Charlotte attorney and court-appointed receiver Kenneth Bell said it will be a “long time” before any money returns to the hands of affiliates who bought in with Zeek Rewards. He said officials want to see substantially all of the funds before they start issuing checks.
Federal securities regulators last week filed fraud charges and an emergency order to freeze the assets of Rex Venture Group LLC. Online marketer Paul Burks of Lexington is accused in a federal complaint of raising money from more than 1 million customers on ZeekRewards.

Source: Yahoo

Some call Zeek a Ponzi scheme, but Zeek Rewards still has supporters. Dont spill your milk when I tell you there is a Facebook page in favor of Zeek Rewards asks for donations for a legal defense fund. -#reaching
Don't let me forget to share this automatically generated email from zeeklegal@gmail.com giving this statement:

As everyone knows, Zeek Rewards is under the control of Kenneth D. Bell of McGuire Woods LLP as temporary receiver of ZeekRewards for the purposes of marshaling and preserving all assets of ZeekRewards and those assets (a) held or possessed by ZeekRewards; (b) held in constructive trust for ZeekRewards; and (c) fraudulently transferred by ZeekRewards.

Not a good look for penny auctions and without saying - but I will - Zeekler has a cloud of dirty criminal doubt surrounding them with some supporters loyally defending it (I bet it's the ones that put in a ton of money).


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