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| John Scheppcoff, presenting yet another "opportunity" on a Youtube video after Profitable Sunrise was declared a scam. This one supposedly is "1000% better", according to the guy with bad judgement and picked a scam. |
Ponzi Pitchmen Get SEC Subpoena, Round 2
Those who cannot remember the past are condemned to repeat it. -- George Santayana
James Scheppcoff also known as John Scheppcoff, had been involved in various Ponzi schemes, but was probably best known for his involvement in Profitable Sunrise, where he used his gray-haired old man in a suit appearance to pitch it as profitable opportunity.
In April 2013, after collapse of Profitable Sunrise, he quickly switched gears and went on to pitch something else, which he won't say unless you contact him. Though it's believed to be "Better Living Global Marketing", operator of a Zeek Rewards-like program out of Hong Kong.
Zeek Rewards was a $700 million Ponzi scheme closed by the SEC on August 16, 2012.
Court documents (which is public info unless sealed) revealed that he, along with 2 others (Melton McClanahan and Don Gillette), have been issued an SEC subpoena to appear in court as a part of ongoing investigation into Profitable Sunrise ponzi scheme, which had already collapsed and its reputed owner missing (and is believed to be a fake person) back in March 2013. Two other ponzi pitchmen had already appeared before the SEC back in May 2013.
Ponzi pitchmen rapidly switching "opportunities" is not new, nor are they known for their good judgment. Andy Bowdoin, head of "Ad Surf Daily" ponzi scheme, while out on bail, repeated pitched for another suspect program called OneX. Many of the participants in Zeek Rewards were veteran "opportunity seekers" who had been in one scheme or another, such as TVI Express, Ad Surf Daily, and its various clones before they ended up in Zeek, and after Zeek's fiery end, in something else, just as potentially illegal or flat out illegal.
But they don't learn from their mistakes.
Thanks to PatrickPretty.com and ASDUpdates Blog.
More Suspect Ponzi Schemes Flee US, Others Tout They are NOT in the US
With the fiery death of Zeek Rewards in 2012 and collapse of Profitable Sunrise in 2013, as well as closing of Liberty Reserve just weeks ago, suspect schemes are fleeing the continent in droves.
Bidify, which was based on Europe, had legally established an office in Delaware and even retained MLM attorney Kevin Thompson to make itself legal. Unfortunately, it has a comp plan remarkably similar to Zeek Rewards. This was changed right after Zeek was closed, then tweaked several times as the "obviously legal" comp plan doesn't seem to be attractive to new affiliates, and signups slowed.
Then recently, Bidify announced it is wrapping up US operations and retreating to Europe.
We have earlier noticed that GoFun Rewards is retreating to Hong Kong and closing their US office (in Pleasanton California).
Now we have various Ponzi-like schemes claiming that they are NOT in US jurisdiction and is marketing that as a selling point. Places mentioned includes Panama, British Virgin Islands, Belize, Cyprus, and other "tax shelter" havens. One was pitched as "based in Spain, far from any US laws"
Do you really expect to profit from something if you are not even sure what law you expect to sue under?
