funsec mailing list archives
RE: Turning over a new leaf.....
From: "Richard M. Smith" <rms () bsf-llc com>
Date: Mon, 27 Feb 2006 10:39:45 -0500
Give this link a shot: http://online.wsj.com/article/SB114100760832383942-email.html Richard -----Original Message----- From: Alex Eckelberry [mailto:AlexE () sunbelt-software com] Sent: Monday, February 27, 2006 10:14 AM To: Richard M. Smith; funsec () linuxbox org Subject: RE: [funsec] Turning over a new leaf..... Hot story, but grrr, damned WSJ subscriber sign-in. Can't find this article re-syndicated anywhere else. Alex -----Original Message----- From: funsec-bounces () linuxbox org [mailto:funsec-bounces () linuxbox org] On Behalf Of Richard M. Smith Sent: Monday, February 27, 2006 8:53 AM To: funsec () linuxbox org Subject: [funsec] Turning over a new leaf..... "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." http://online.wsj.com/article/SB114100760832383942.html?mod=todays_us_mo ney_ and_investing SEC Alleges Internet Ponzi Scheme By MARK MAREMONT February 27, 2006; Page C8 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. ... _______________________________________________ Fun and Misc security discussion for OT posts. https://linuxbox.org/cgi-bin/mailman/listinfo/funsec Note: funsec is a public and open mailing list. _______________________________________________ Fun and Misc security discussion for OT posts. https://linuxbox.org/cgi-bin/mailman/listinfo/funsec Note: funsec is a public and open mailing list.
Current thread:
- Turning over a new leaf..... Richard M. Smith (Feb 27)
- <Possible follow-ups>
- RE: Turning over a new leaf..... Alex Eckelberry (Feb 27)
- RE: Turning over a new leaf..... Richard M. Smith (Feb 27)
- RE: Turning over a new leaf..... Alex Eckelberry (Feb 27)
- RE: Turning over a new leaf..... Richard M. Smith (Feb 27)
- RE: Turning over a new leaf..... Jonathan Poon (Mar 10)
- RE: Turning over a new leaf..... Richard M. Smith (Feb 27)
- RE: Turning over a new leaf..... Richard M. Smith (Feb 27)