Easy Money

[walangiba]

Picked this up from another forum...

 

Recent events hitting the Get-Rich-Quick-Thru-The-Internet Industry has made everyone even more skeptical.

 

 

12DAILYPRO - SEC Alleges Internet Ponzi Scheme

 

Freeze of Assets Is Sought

After Offer of 44% Return

For Looking at Online Ads

 

The Securities and Exchange Commission filed a court action seeking to freeze the assets of 12DailyPro, and the agency is accusing the Web site and its operator of running an Internet Ponzi scheme that the SEC said has raised more than $50 million from more than 300,000 investors who were promised huge profits on their money.

 

The asset-freeze motion, filed late Friday in U.S. District Court in Los Angeles, seeks to have a receiver appointed to oversee the operations of 12DailyPro and its parent, LifeClicks LLC, according to an attorney familiar with the filing. The Internet company's operator, a Charlotte, N.C., woman named Charis Johnson, has agreed to the proposed order, according to the attorney. The filing wasn't available immediately through the court's electronic documents service.

 

A judge has yet to rule on the proposed order but judicial approval is considered likely.

 

Started last spring, 12DailyPro promised "members" that they could earn 44% returns on their money in just 12 days simply by viewing Web advertisements. Thousands of people from all over the world put up membership fees of as much as $6,000 every dozen days. For a while, some got the profits promised. But early this month, 12DailyPro essentially shut down after its primary online-payment processor, StormPay Inc., froze the company's funds, saying it had been alerted that 12DailyPro may have been conducting a fraud.

 

The SEC said the amount of investor funds voluntarily frozen by StormPay was about $50 million, the attorney familiar with the filing said, although it is unclear whether the full amount is still available. The SEC also is seeking to freeze about $1.9 million of funds transferred from 12DailyPro to bank accounts controlled by Ms. Johnson.

 

The 12DailyPro site was among the largest of dozens of so-called autosurf Web sites on the Internet. With names such as Auto.ExchangeTrade.com and Vegasurf.com, the sites ride a legitimate trend -- the surge in Internet advertising -- by promising generous returns to members who agree to view their ads. Most also let members advertise their Web sites to each other.

 

Autosurf sites can be legitimate, while some promise such huge profits that critics accuse them of running Ponzi schemes. Named for Charles Ponzi, an Italian immigrant to the U.S. who gained notoriety early in the 20th century, a Ponzi scheme is a fraud that promises huge returns to investors but pays them with money from subsequent investors rather than from revenue generated by business.

 

An attorney for 12DailyPro and Ms. Johnson couldn't be reached for comment. Ms. Johnson released a statement on the 12DailyPro Web site saying her company planned early this week to announce "a compromise" with authorities that "will lead to the resolution of this matter and the beginnings of an accounting and refund process." In the past, Ms. Johnson has maintained that 12DailyPro was a legitimate operation, and she blamed its woes on a commercial dispute with StormPay.

 

A key figure in the shutdown of 12DailyPro was Barry Minkow, a former carpet-cleaning executive who was convicted of securities fraud in the 1980s before he turned to helping regulators and investigators detect other frauds.

 

The Federal Bureau of Investigation and various state officials also are investigating 12DailyPro.

 

Here's another article:

http://news.yahoo.com/s/nm/20060228/wr_nm/sec_dc_1

 

 Charis charged with running a $50M ponzi scheme

 Charis has $1.9M and Stormpay is holding $50M

 Money will be recovered and repaid to "investors" (I hope)

 

WASHINGTON (Reuters) - U.S. regulators last week charged the owner of 12dailypro.com and her two companies with fraud for running a $50 million Ponzi scheme, according to a statement released on Monday.

 

The U.S. Securities and Exchange Commission alleged that Charis Johnson, 33, raised more than $50 million from more than 300,000 investors by convincing visitors to the Web site that they could earn a 44 percent return on their investments in 12 days by looking at Internet advertisements.

 

The scheme, which the SEC calls "paid auto-surf," required users to buy $6 "units" -- up to a maximum of 1,000 units -- and to view advertisements from what were described as paying advertisers.

 

While investors were led to believe that their returns would be generated by advertising revenue, payments were made almost entirely from cash generated by other unit buyers in a classic Ponzi scheme, the SEC alleged.

 

Johnson and her companies, 12daily Pro and LifeClicks LLC, agreed to settle the charges without admitting or denying guilt.

 

As part of the settlement, Johnson and her companies agreed to stop seeking further investors, to freeze assets and to accept a court appointed receiver over corporate assets.

The commission is also seeking the repayment of ill-gotten gains and further fines. The complaint alleged that Johnson transferred about $1.9 million to her own accounts.

According to Johnson's attorney, Noell Tin, a Clarksville, Tennessee, credit card payment processor called StormPay.com "is holding about $50 million of 12dailypro.com's money."

"That's where the money is to get folks repaid," Tin said, adding that "they (StormPay.com) are definitely going to be giving it to the receiver."

 

Follow the money

 

According to a February 7 Better Business Bureau of Middle Tennessee statement, however, StormPay.com "generated more complaints to the BBB than any other Middle Tennessee or Southern Kentucky business" in the first six weeks of 2006.

 

The consumer protection group said it sought the assistance of federal authorities after receiving 18,926 inquiries checking on the reliability of StormPay.com in the 7 days prior to February 7.

The majority of complaints filed with bureau were related to "auto-surfing" programs, the BBB statement said.

 

According to Tin, 12daily Pro and Johnson are completely independent of one another.

Calls to StormPay.com's headquarters were unanswered.

The SEC also declined to comment.

 

Asked if the $50 million he believes StormPay.com is holding is enough to cover investor losses, Tin said, "I don't know. What I do know is that there is a substantial sum of money sitting there."

As for the $1.9 million Johnson allegedly moved to her accounts, Tin says his client has already returned $1.4 million to 12dailypro.com members.

 

The SEC also released a general warning on paid auto-surf schemes on Monday at http://www.sec.gov/investor/pubs/autosurf.htm.

 

12dailypro.com was the 352nd most highly visited site on the Internet, according to the SEC.

[walangiba]

Picked this up from CraZoo, another internet forum... Recent events hitting the Get-Rich-Quick-Via-The-Internet Industry has made many even more skeptical....

 

 

 

12DAILYPRO - SEC Alleges Internet Ponzi Scheme

 

Freeze of Assets Is Sought

After Offer of 44% Return

For Looking at Online Ads

 

The Securities and Exchange Commission filed a court action seeking to freeze the assets of 12DailyPro, and the agency is accusing the Web site and its operator of running an Internet Ponzi scheme that the SEC said has raised more than $50 million from more than 300,000 investors who were promised huge profits on their money.

 

The asset-freeze motion, filed late Friday in U.S. District Court in Los Angeles, seeks to have a receiver appointed to oversee the operations of 12DailyPro and its parent, LifeClicks LLC, according to an attorney familiar with the filing. The Internet company's operator, a Charlotte, N.C., woman named Charis Johnson, has agreed to the proposed order, according to the attorney. The filing wasn't available immediately through the court's electronic documents service.

 

A judge has yet to rule on the proposed order but judicial approval is considered likely.

 

Started last spring, 12DailyPro promised "members" that they could earn 44% returns on their money in just 12 days simply by viewing Web advertisements. Thousands of people from all over the world put up membership fees of as much as $6,000 every dozen days. For a while, some got the profits promised. But early this month, 12DailyPro essentially shut down after its primary online-payment processor, StormPay Inc., froze the company's funds, saying it had been alerted that 12DailyPro may have been conducting a fraud.

 

The SEC said the amount of investor funds voluntarily frozen by StormPay was about $50 million, the attorney familiar with the filing said, although it is unclear whether the full amount is still available. The SEC also is seeking to freeze about $1.9 million of funds transferred from 12DailyPro to bank accounts controlled by Ms. Johnson.

 

The 12DailyPro site was among the largest of dozens of so-called autosurf Web sites on the Internet. With names such as Auto.ExchangeTrade.com and Vegasurf.com, the sites ride a legitimate trend -- the surge in Internet advertising -- by promising generous returns to members who agree to view their ads. Most also let members advertise their Web sites to each other.

 

Autosurf sites can be legitimate, while some promise such huge profits that critics accuse them of running Ponzi schemes. Named for Charles Ponzi, an Italian immigrant to the U.S. who gained notoriety early in the 20th century, a Ponzi scheme is a fraud that promises huge returns to investors but pays them with money from subsequent investors rather than from revenue generated by business.

 

An attorney for 12DailyPro and Ms. Johnson couldn't be reached for comment. Ms. Johnson released a statement on the 12DailyPro Web site saying her company planned early this week to announce "a compromise" with authorities that "will lead to the resolution of this matter and the beginnings of an accounting and refund process." In the past, Ms. Johnson has maintained that 12DailyPro was a legitimate operation, and she blamed its woes on a commercial dispute with StormPay.

 

A key figure in the shutdown of 12DailyPro was Barry Minkow, a former carpet-cleaning executive who was convicted of securities fraud in the 1980s before he turned to helping regulators and investigators detect other frauds.

 

The Federal Bureau of Investigation and various state officials also are investigating 12DailyPro.

 

 

Here's another article:

http://news.yahoo.com/s/nm/20060228/wr_nm/sec_dc_1

 

 Charis charged with running a $50M ponzi scheme

 Charis has $1.9M and Stormpay is holding $50M

 Money will be recovered and repaid to "investors" (I hope)

 

WASHINGTON (Reuters) - U.S. regulators last week charged the owner of 12dailypro.com and her two companies with fraud for running a $50 million Ponzi scheme, according to a statement released on Monday.

 

The U.S. Securities and Exchange Commission alleged that Charis Johnson, 33, raised more than $50 million from more than 300,000 investors by convincing visitors to the Web site that they could earn a 44 percent return on their investments in 12 days by looking at Internet advertisements.

 

The scheme, which the SEC calls "paid auto-surf," required users to buy $6 "units" -- up to a maximum of 1,000 units -- and to view advertisements from what were described as paying advertisers. While investors were led to believe that their returns would be generated by advertising revenue, payments were made almost entirely from cash generated by other unit buyers in a classic Ponzi scheme, the SEC alleged.

 

Johnson and her companies, 12daily Pro and LifeClicks LLC, agreed to settle the charges without admitting or denying guilt. As part of the settlement, Johnson and her companies agreed to stop seeking further investors, to freeze assets and to accept a court appointed receiver over corporate assets. The commission is also seeking the repayment of ill-gotten gains and further fines. The complaint alleged that Johnson transferred about $1.9 million to her own accounts. According to Johnson's attorney, Noell Tin, a Clarksville, Tennessee, credit card payment processor called StormPay.com "is holding about $50 million of 12dailypro.com's money." "That's where the money is to get folks repaid," Tin said, adding that "they (StormPay.com) are definitely going to be giving it to the receiver."

 

According to a February 7 Better Business Bureau of Middle Tennessee statement, however, StormPay.com "generated more complaints to the BBB than any other Middle Tennessee or Southern Kentucky business" in the first six weeks of 2006. The consumer protection group said it sought the assistance of federal authorities after receiving 18,926 inquiries checking on the reliability of StormPay.com in the 7 days prior to February 7. The majority of complaints filed with bureau were related to "auto-surfing" programs, the BBB statement said.

 

According to Tin, 12daily Pro and Johnson are completely independent of one another. Calls to StormPay.com's headquarters were unanswered. The SEC also declined to comment.

 

Asked if the $50 million he believes StormPay.com is holding is enough to cover investor losses, Tin said, "I don't know. What I do know is that there is a substantial sum of money sitting there." As for the $1.9 million Johnson allegedly moved to her accounts, Tin says his client has already returned $1.4 million to 12dailypro.com members.

 

The SEC also released a general warning on paid auto-surf schemes on Monday at http://www.sec.gov/investor/pubs/autosurf.htm.

 

12dailypro.com was the 352nd most highly visited site on the Internet, according to the SEC.

[thrall]

basta nagbayad ka ng walang kapalit eh iscam yaan

[krystalgold]

Yang mga MLM na yan magagaling masyado ...SANA KUNIN NA SILA NI LORD??!!!

kaya mag ingat sa mga scammer......mga pare at mga mareee.

[Bisdak88]

i am a financial analyst, stock trader and investor.. can you give us detail how this company earns money?

REMEMBER guys if an investment is too good to be true AVOID it.. else lose everything you have..

 

nah .. i dont think so .. first of all this business requires that you have a brain and second of all it also requires that you have some balls.

 

Take my advice kid. This business is not for you. stay away from it. You might lose your lollipop money and blame the whole world for it.

<{POST_SNAPBACK}>

 

mang tony!

simply lang po yung tanong, ni thug Company profile.. sa tagalog ano ang pinagkakakitaan ng companyang ito. kung ang isang maglalabas ng pera o investor sa isang negosyo eh., siguro tama lang malaman kung ano klase yung kompanya. paano ba kumikita ang kumpanya para kumita ang pera ko? mali bang tanong yun? Hindi sa pagiging skeptikal kundi sa daming manloloko o scam sa mga mataas na bigay kita sa iluluwal mo. Masama bang siguruhin na legal at sa tama ang papasukin?

 

sa ngayon ang alam ko lang na malaki ang balik o kita sa bawat piso na lalabas mo ay sa pag benta ng DROGA, KATAWAN, KFR (kidnap for ransom_) o MANANSO(ibig pong sabihin nito eh manloko)... ehehehe... kahit na sandaan laang pera pa din... at wala pong gulatan, sa hirap ng buhay ngayon bawat piso importante... O.K??

[$$G1ZaL$$]

This is in reply to Libery post about 12dailypro.com. There are many autosurf programs out there and YES you can really make money, but you will need to do some research. I have currently invested in 4 authsurf programs and MAKING MONEY! So far I am in the plus! For those who are interested, I'll be more than happy to explain the details and the research that have gone into the programs I have invested in.

 

This is definitely a get rich scheme that is working so far for me. Anyways just wanted to share it to those who are interested.

[thrall]

I see a lot of MLM bashing here. Though its true that there are a lot of baloney goin on in this industry the bottom line is that not all of these companies are SCAMS.

 

Actually network marketing is being taught at HARVARD BUSINESS SCHOOL, it is also an elective in Ateneo Graduate School of business and other reputable learning institutions.

 

Bill Gates himself was interviewed by oprah and was asked if he weren't the big guy in microsoft what would he be doin. He answered he would be in network marketing. When asked why, with matching surpirised expression mr gates answered well its the fastest growing industry its the next big thing. If mr $50B thinks so I dont think we're in the position to contest.

 

The best thing here is to learn about something before we comment on something. There are lot of books out there regarding this industry, I suggest you read them and try to learn from it. Tutal kahit papaano may matututunan ka namn eh.

[airwaves]

be a smuggler like some i know, kaso nahuli eh

[miguel2]

hmmm. so far ...

ive had 4 suggestions

 

1. model

2. ask my friends

3. do a buy-one take one offer  :sick:

4. citibank

<{POST_SNAPBACK}>

 

You can add trying it out in the psp section.

[magnus]

I'll invest your money in the stock market. I'll guarantee na kikita ka. Pay me 10% of the profits we earned.

 

Lets do it using honesty system. You don't give me your money, I help you open an account with an online broker. I advise you what stocks to buy and when to buy and sell. Kung kumita ka, compute 10% and send the money to my account.

 

PM me if you are interested.

[Dr_PepPeR]

I'll invest your money in the stock market. I'll guarantee na kikita ka. Pay me 10% of the profits we earned.

 

Lets do it using honesty system. You don't give me your money, I help you open an account with an online broker. I advise you what stocks to buy and when to buy and sell. Kung kumita ka, compute 10% and send the money to my account.

 

PM me if you are interested.

<{POST_SNAPBACK}>

 

What about losses? Is this also split 90/10? Is the 10% net of brokers fees and commissions? When is the reckoning for income/loss computing?

[magnus]

the usual consultant's cut is 20%. wala na ang consultant sa losses coz pag di ka kumita, wala rin silang 10% na kita. that is consultants fee lang ang 10%... brokers fee is just 0.025% or 25centavos for every P100 transaction. in short you shoulder the loss.

 

if takot ka sa losses, i'm open to shouldering the loss pero i get 50% of your profit.

 

obviously that is just fair, you risk more, you earn more. i don't think makaka kita ka ng deal na wala kang risk sa loss yet you get everything and vice versa

 

 

quote=Dr_PepPeR,May 10 2006, 09:43 PM]

What about losses? Is this also split 90/10? Is the 10% net of brokers fees and commissions? When is the reckoning for income/loss computing?

<{POST_SNAPBACK}>

[thrall]

When I release my money to the stock market, then I shall be at your mercy..

[magnus]

why? i don't own the stock market nor will i even get to touch your money. it will be you who will get a broker (online or otherwise)

 

When I release my money to the stock market, then I shall be at your mercy..

<{POST_SNAPBACK}>

[tonysoprano]

the usual consultant's cut is 20%. wala na ang consultant sa losses coz pag di ka kumita, wala rin silang 10% na kita. that is consultants fee lang ang 10%... brokers fee is just 0.025% or 25centavos for every P100 transaction. in short you shoulder the loss.

 

if takot ka sa losses, i'm open to shouldering the loss pero i get 50% of your profit.

 

obviously that is just fair, you risk more, you earn more. i don't think makaka kita ka ng deal na wala kang risk sa loss yet you get everything and vice versa

quote=Dr_PepPeR,May 10 2006, 09:43 PM]

What about losses? Is this also split 90/10? Is the 10% net of brokers fees and commissions? When is the reckoning for income/loss computing?

<{POST_SNAPBACK}>

<{POST_SNAPBACK}>

 

Here's the deal:

 

1. I'll put up the money. the amount of which is depending on your advice.

2. You can have the 10% consultant's fee in case of gains.

3. You share 50% of the loss just in case; but you still get 10% in case of gains.

4. I'll put a bullet in your head if i lose more than 30% of my investment at any given time.

 

Fair enough? let me know if we have a deal.