Saturday, March 30, 2013

$600M Ponzi scheme incubated in small NC town

$600M Ponzi scheme incubated in small NC town

1 comment:

  1. ZEEK REWARDS ; Did she hear about the online company ZeekRewards? For a small investment, she could make a fortune. He had invested. So had his grandsons. And so were more and more people in Lexington, including doctors, lawyers and accountants.

    Skeptical at first, Myers drove a few blocks to the company's one-story, red-brick office and spotted a line of people circling the building. She was sold, and plunked down several thousand dollars. But months later, Myers — like hundreds of thousands of others — discovered the truth: ZeekRewards was a scam.

    "I was duped," Meyer said. "We trusted this man. The community is still in shock."

    Authorities say owner Paul Burks was the mastermind of a $600 million Ponzi scheme — one of the biggest in U.S. history — that attracted 1 million investors, including nearly 50,000 in North Carolina. Many were recruited by friends and family in Lexington, a quintessential small town where neighbors look out for each other.
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