Lots of little news this week... Remember folks, don't accept random news items without attribution. I link to my sources, and you should click through to make sure I didn't lie to you (unlike others)
PlanB4You Ponzi Busted in Europe
PlanB4You was reportedly busted by local police (Google Translate of refdag.nl article) when a seizure order was issued and bank account containing 2.5 million (?) have been frozen and multiple locations raided. Several luxury cars were apparently seized. And challenges to court have been denied.
PlanB4You (review by BehindMLM) is a virtually exact copy of Ad Surf Daily ponzi busted in the US in 2008, with 25% ROI in 25 days.
Zhunrize reaches Plea Deal with SEC, may go into receivership
Previously we reported that Zhunrize has been closed by SEC as a ponzi scheme, and at least one shill or troll claimed it was not true, and they had reopened. Seems every Ponzi scheme claimed this at one time or another, as there are reports this also happened with PlanB4You reported above.
Any way, to nail that rumor shut... (reported by BehindMLM) Zhunrize and owner Pan have reached separate deals with SEC to pay fines and disgorgement of ill-gotten gains. The judge has yet to sign the deal but is expected to.
There may be criminal cases pending later. Receivership will be appointed if the deal is accepted and that's the end of that.
800K of Zeek Money May Have Been Stolen By Credit Card Processor's Attorney
According filings by "Plastic Cash International" (PCI), a credit card processor for Zeek Rewards, their attorney stole at least 800K from them (as reported by PatrickPretty.com). The attorney had been disbarred for mishandling of yet other client's money.
For background information. PCI apparently kept over 8 million Zeek money without revealing it to the Zeek receivership, and claimed it had suffered further losses and wants another 15 million in compensation. Zeek receiver Ken Bell has asked to court to declare PCI in contempt of freeze order and hand back that 8 million ASAP or face interest charges and further penalties. PCI however, contends that most of the money was paid out in chargebacks and fines and attorney fees and therefore are not subject to freeze order and thus they are not liable.
FDA Admonishes Herbalife for False Claims of FDA Jurisdiction
(Reported by BehindMLM) In a letter issued 17-DEC-2014, FDA had sent a letter to Herbalife admonishing them of false claims on at least one marketing video. In the video, Vasilios H. Frankos, Ph. D claimed that "when I was director of dietary supplements at the FDA, I oversaw nutritional supplements, making sure they were safe and effective for use".
Dietary supplements does NOT need FDA approval to market dietary supplements, and FDA does NOT review dietary supplements for effectiveness. There are reviews for health claims and qualified health claims, but that's a separate issue. Nor does FDA review dietary supplement for safety unless they contain a new ingredient that had never been used and regarded as safe before.
It is astonishing to learn how can a former FDA official can make such statements... esp. a PAID statement, that is patently untrue.
The video has been pulled from Youtube, but it is not know what other videos are out there containing similar inaccurate language that had not been discovered.
PlanB4You Ponzi Busted in Europe
PlanB4You was reportedly busted by local police (Google Translate of refdag.nl article) when a seizure order was issued and bank account containing 2.5 million (?) have been frozen and multiple locations raided. Several luxury cars were apparently seized. And challenges to court have been denied.
PlanB4You (review by BehindMLM) is a virtually exact copy of Ad Surf Daily ponzi busted in the US in 2008, with 25% ROI in 25 days.
Zhunrize reaches Plea Deal with SEC, may go into receivership
Previously we reported that Zhunrize has been closed by SEC as a ponzi scheme, and at least one shill or troll claimed it was not true, and they had reopened. Seems every Ponzi scheme claimed this at one time or another, as there are reports this also happened with PlanB4You reported above.
Any way, to nail that rumor shut... (reported by BehindMLM) Zhunrize and owner Pan have reached separate deals with SEC to pay fines and disgorgement of ill-gotten gains. The judge has yet to sign the deal but is expected to.
There may be criminal cases pending later. Receivership will be appointed if the deal is accepted and that's the end of that.
800K of Zeek Money May Have Been Stolen By Credit Card Processor's Attorney
According filings by "Plastic Cash International" (PCI), a credit card processor for Zeek Rewards, their attorney stole at least 800K from them (as reported by PatrickPretty.com). The attorney had been disbarred for mishandling of yet other client's money.
For background information. PCI apparently kept over 8 million Zeek money without revealing it to the Zeek receivership, and claimed it had suffered further losses and wants another 15 million in compensation. Zeek receiver Ken Bell has asked to court to declare PCI in contempt of freeze order and hand back that 8 million ASAP or face interest charges and further penalties. PCI however, contends that most of the money was paid out in chargebacks and fines and attorney fees and therefore are not subject to freeze order and thus they are not liable.
FDA Admonishes Herbalife for False Claims of FDA Jurisdiction
(Reported by BehindMLM) In a letter issued 17-DEC-2014, FDA had sent a letter to Herbalife admonishing them of false claims on at least one marketing video. In the video, Vasilios H. Frankos, Ph. D claimed that "when I was director of dietary supplements at the FDA, I oversaw nutritional supplements, making sure they were safe and effective for use".
Dietary supplements does NOT need FDA approval to market dietary supplements, and FDA does NOT review dietary supplements for effectiveness. There are reviews for health claims and qualified health claims, but that's a separate issue. Nor does FDA review dietary supplement for safety unless they contain a new ingredient that had never been used and regarded as safe before.
It is astonishing to learn how can a former FDA official can make such statements... esp. a PAID statement, that is patently untrue.
The video has been pulled from Youtube, but it is not know what other videos are out there containing similar inaccurate language that had not been discovered.
