Andy Bowdoin of AdSurfDaily, who advertised half the return rate of Fred and virtually the same commission structure as JSS Tripler/JustBeenPaid, was an "older guy" who'd "done this, done that," too. His Ponzi trial is set for September 2012. He faces up to 125 years in federal prison if convicted on all counts of wire fraud, securities fraud and selling unregistered securities.
When the Ponzi trial begins, Bowdoin will be only a few months shy of his 78th birthday. (Ponzi schemer Richard Piccoli was sentenced in 2009 to 20 years when he was 83 years old; Bernard Madoff was 71 when sentenced to 150 years in 2009. Judge Chin, according to the New York Times, described Madoff's crimes as "extraordinarily evil." Part of Madoff's scheme was making people believe the "profits" they received came from something real. In the end, it proved to be the case that Madoff simply created numbers on a screen to fleece the masses.)
Madoff Sentenced to 150 Years in Prison - NYTimes.com
In the "done this," category, Bowdoin was at the helm of a securities swindle in Alabama in the 1990s. He was charged with felonies, but avoided jail time back then by agreeing to make restitution. Despite his narrow escape, Bowdoin launched ASD. One of his business partners was a man implicated by the SEC in THREE prime-bank swindles. The Feds -- as was the case with Madoff -- said Bowdoin simply created numbers on a screen to swindle the masses.
Meanwhile, in the "done that" category, Bowdoin told ASD members that the seized money belonged to THEM, but he told a federal judge that it belonged to HIM. Also in the "done that" category, Bowdoin stockpiled some cash offshore in an account under a different name, according to the Feds. He also routed "several million" through Canada. (The names of AlertPay and SolidTrustPay both are referenced in the ASD litigation. JSS Tripler/JustBeenPaid also uses AP and STP.)
Fred was a pitchman for Bowdoin in 2008. That means, at least in theory, that he could become a target of a clawback lawsuit to return his purported earnings from ASD, meaning that it's possible that Fred could get dragged into the ASD litigation while he's actively running JSS Tripler/JustBeenPaid. Beyond that, its is known that the ASD criminal probe is ongoing.
Fred's ad for ASD ran on his BigBooster site, which also promotes JSS Tripler/JustBeenPaid. Payments from JSS Tripler/JustBeenPaid come from an email address assigned the BigBooster domain. I'd say there is a high probability that funds from ASD are commingled with JSS Tripler/JustBeenPaid funds. And the probability is even higher -- virtually 100 percent -- that JSS Tripler/JustBeenPaid funds also are commingled with funds from all sorts of scams, including Club Asteria.
Like Fred, Club Asteria's Hank Needham also was a pitchman for ASD. And like JSS Tripler/JustBeenPaid, Club Asteria promoters also came under the lens of CONSOB.
To the best of my knowledge the CIA hasn't offered an opinion. CONSOB, however, has ventured that JSS Tripler promoters are conducting an illegal offering of securities. IMHO, that's an opinion you should care about. You are free to dismiss my opinion, of course -- just as you are free not to be concerned about CONSOB's opinion.
BTW, do you know if Fred is helping the JSS Tripler promoters named in the CONSOB action mount a defense? If so, how can they be assured that any money he fronts them is not tainted by fraud proceeds that originated, say, through JSS Tripler/JustBeenPaid promoters who set up shop at TalkGold and MoneyMakerGroup -- after earlier using TalkGold and MoneyMakerGroup to flog Club Asteria and CherryShares, which is referenced in a securities action in Canada?
Fred's well is tainted, to be sure. I'd say that any JSS Tripler/JustBeenPaid promoter who gets named in an action in ANY jurisdiction or is sued by his/her upline is going to be on their own.
ASD had restarts, too -- i.e., it licensed itself to slow down or restart the Ponzi at a time of its choosing in anticipation of an influx of new funds. In effect, ASD licensed itself to treat liabilities as assets through private accounting tricks -- otherwise known as the Enron problem. Like JSS Tripler/JustBeedPaid, ASD also called it payouts to members "rebates." Like Like JSS Tripler/JustBeedPaid, Club Asteria, CherryShares and many more "programs," ASD also had a presence on the Ponzi boards.
This is good, although it seems to clash with your statement that you're not concerned about what CONSOB thinks. In any event, please share what your due diligence taught you about where Fred/JSSTripler/JustBeenPaid do their banking and the name of their CPA/accounting firm. Also: Please share the names under which they conduct business at the offshore (non-U.S.) processors and the accounts they use to pay for things such as hosting and domain registration. While you're at it, please share the name of their attorney and his/her bar-registration data, along with the registration data with the SEC for offerings and broker-dealers.
If you have time, please explain why certain JSS Tripler/JustBeenPaid sites suddenly have gone offline in the United States in the wake of the CONSOB probe -- and why members should not be concerned about that. I'd say that is the minimum information any JSS Tripler/JustBeenPaid promoter would need to possess if making claims he/she had performed "due diligence."
Of course, they also might need to explain in some real-world way how Fred can pay returns that are between 48 and 73 times higher annually than the returns Madoff "realized" -- all why explaining why JSS Tripler/JustBeenPaid makes members affirm they are not government spies or media lackeys.
As things stand, it looks very much as though JSS Tripler/JustBeenPaid is expending an invitation to join an international financial conspiracy. "Due diligence" also might require members to acknowledge that the Legisi HYIP had terms similar to JSS Tripler/JustBeenPaid with respect to the affirmations about no government or media involvement -- something the SEC gladly showed a federal judge in Michigan when it went after Legisi in May 2008.
During that same month, the SEC also went after Gold Quest International, which purported it was immune to U.S. law -- i.e., outside the reach of law enforcement -- because it somehow enjoyed sovereignty in Las Vegas (U.S. soil) that somehow had been extended to it via Panama and across multiple U.S. state lines by an "Indian" tribe in North Dakota. Like JSS Tripler/JustBeenPaid, GQI also purported to have an attorney. That "attorney" now is in federal prison through Dec. 10, 2018. His name is Michael Howard Reed. It turns out he wasn't really an "attorney."
PPBlog
P.S. The Feds also went after Pathway to Prosperity and Nicolas Smirnow -- and even brought in two experts to explain why the "program" was pure fantasy. The "returns" of P2P are in the same ballpark as JSS Tripler/JustBeenPaid. P2P also had a presence on the Ponzi boards, as did Imperia Invest IBC, which the SEC said scammed deaf people by the thousands.
Bookmarks