Korean Zeek Credit Card Processor Ripping Off 1,000’s and Counselor Bell Receiver Report: Clawback Litigation!
Zeek Rewards/Zeekler Update #10 - 9/27/2012 (latest update from Rod Cook):
KOREAN ZEEK CREDIT CARD PROCESSOR RIPPING OFF 1,000’S
9/22/12 The Watchdog has gotten a flood of complaints about people who are still getting hit monthly by Zeek’s Korean credit card processor. When you get your credit card bill check for a line “Zeekler.com” SEOUL KR. You get hit for the Zeek $29.95 monthly plus a FOREIGN TRANSACTION FEE of .89 cents for atotal of $30.84. The only thing you can do is call your credit card company and dispute the payment! IF YOU DON’T IT IS GOING TO GO ON AND AND ON! Editors Note: We very rarely contact regulators but this was an exception. Don't bet on that call your credit card company!
COUNSELOR BELL RECEIVER REPORT 9/17/12 = CLAWBACKS!
As of today we have secured nearly $300,000,000.00 in Receivership Assets. There may be tens of millions of dollars more of recoverable assets. This process will take time, and I ask your patience while we seek every recoverable dollar for victims of Rex Ventures Group LLC. Among those from whom we intend to recover assets are those affiliates who took more out of Rex Ventures than they put in! ED. NOTE: THIS IS CALLED A CLAWBACK! Many of you received little or nothing from this enterprise. In order to make everyone as whole as possible, those who profited from participating should surrender their gains. , I read in many emails and web postings that some affiliates claim to have spoken to me or the SEC. Counselor Bell: False information is being circulated by these claimants. I have not spoken to any of those claiming to have done so. I will communicate with you through this web site. If I could answer all of the hundreds of thousands of emails and calls from you I would, but obviously I can’t. I also recommend that you consider only what the SEC posts on its web site for its position on this matter.
Adrian and Jocelyn Frank
CEO/Owners of Adrian Frank Consulting
Cell: 206-261-7348
Cell: 206-261-7348
eMail: adrianfrank@gmail.com
eMail: jocelyntranfrank@gmail.com
BeEmpoweredHere dot com
WATCH this FREE Video. FIND your way to making $1000 PER DAY (I'm not kidding). DISCOVER the WEIRD marketing tricks of the Empower Network HERE !
NxPay May Get Some People's Money Back/Zeek Rewards Fun Club Lawsuit Against SEC Likely to be Stayed (rejected)
Zeek Rewards/Zeekler Update #9 - 9/6/2012 (latest update from Rod Cook):
EXPERTS IN PONZI LAW EXPECT LAWSUIT AGAINST SEC BY FUN CLUB TO BE STAYED
Conference Call With Zeek Receiver Counselor Bell
Counselor Bell The receiver indicated that he had not been provided with copies of the lawsuits, he did give his opinion that, under the order appointing him as receiver, any and all litigation brought against Zeek or its subsidiaries would be stayed and prevented from moving forward. Ultimately, he said, the court would have to provide guidance. CLAWBACKS FROM THOSE THAT MADE MONEY! When asked if he was alluding to the possibility of “clawback” litigation against investors who withdrew more than their initial investment, Mr. Bell stuck to his message that he would pursue “every dollar” from those in wrongful possession of the funds.
Transcript of Recievers Call
Conference Call With Zeek Receiver Counselor Bell
Counselor Bell The receiver indicated that he had not been provided with copies of the lawsuits, he did give his opinion that, under the order appointing him as receiver, any and all litigation brought against Zeek or its subsidiaries would be stayed and prevented from moving forward. Ultimately, he said, the court would have to provide guidance. CLAWBACKS FROM THOSE THAT MADE MONEY! When asked if he was alluding to the possibility of “clawback” litigation against investors who withdrew more than their initial investment, Mr. Bell stuck to his message that he would pursue “every dollar” from those in wrongful possession of the funds.
Transcript of Recievers Call
NX PAY SOME MAY GET $$ BACK - RECEIVER MAY NOT!
To date NxPay® has been diligently working to reconcile all accounts and related transactions in an effort to determine source of funds for all NxPay® accounts related to Zeek Rewards. We do this so we can clearly identify funds dispersed by Zeek Rewards and funds loaded to the NxPay® but never committed to Zeek Rewards. This has proven to be a tedious process given the vast number of accounts associate to Zeek Rewards and the level of manual reconciliation required. We anticipate disclosing a definitive date as to when the reconciliation will be complete by the end of this week. Once reconciliation has been completed we will send out email notifications confirming the end of this process. This will be followed by instructions on releasing account holder’s funds that were loaded to NxPay® account, but never committed to Zeek Rewards. Any funds that were dispersed or committed to Zeek Rewards or deemed to be payouts by Zeek Rewards to account holders NxPay® wallet will be held in compliance with our directive from the U.S. Securities and Exchange Commission (SEC) and will thus be surrendered to the SEC for redistribution by the appointed Receiver of the SEC investigation.
To date NxPay® has been diligently working to reconcile all accounts and related transactions in an effort to determine source of funds for all NxPay® accounts related to Zeek Rewards. We do this so we can clearly identify funds dispersed by Zeek Rewards and funds loaded to the NxPay® but never committed to Zeek Rewards. This has proven to be a tedious process given the vast number of accounts associate to Zeek Rewards and the level of manual reconciliation required. We anticipate disclosing a definitive date as to when the reconciliation will be complete by the end of this week. Once reconciliation has been completed we will send out email notifications confirming the end of this process. This will be followed by instructions on releasing account holder’s funds that were loaded to NxPay® account, but never committed to Zeek Rewards. Any funds that were dispersed or committed to Zeek Rewards or deemed to be payouts by Zeek Rewards to account holders NxPay® wallet will be held in compliance with our directive from the U.S. Securities and Exchange Commission (SEC) and will thus be surrendered to the SEC for redistribution by the appointed Receiver of the SEC investigation.
PREFERRED MERCHANTS ANOTHER $10-18 MILLION!
Preferred Merchants Solutions LLC (PM), was cited an “asset seizure warrant” in a new court filing. PM was a Zeek vendor. The company also says it is in possession of between $10 million and $15 million of “unprocessed checks” linked to Zeek. Moreover, the company has advised a federal judge that there may be an additional $3 million in checks that were not processed.
We (Adrian Frank Consulting and associated companies) are HERE for you, Zeekler friends!
Preferred Merchants Solutions LLC (PM), was cited an “asset seizure warrant” in a new court filing. PM was a Zeek vendor. The company also says it is in possession of between $10 million and $15 million of “unprocessed checks” linked to Zeek. Moreover, the company has advised a federal judge that there may be an additional $3 million in checks that were not processed.
God bless you! Adrian and Jocelyn Frank
CEO/Owners of Adrian Frank Consulting
Cell: 206-261-7348
eMail: adrianfrank@gmail.com, jocelyntranfrank@gmail.com www.BeEmpoweredHere.com FIND your way to making $1000 PER DAY (I'm not kidding). DISCOVER the WEIRD marketing tricks of the Empower Network. WATCH this FREE Video.
Zeek Rewards/Zeekler UPDATE: What? Ask YOUR Local Lawyer About THIS! SEC Lawsuit By Fun Club - SNR Denton (Law Firm) - Zeek Rewards/Rex Venture Group Has Probably OVER $80 MILLION Crawling Out of Hiding Holes In Banks and Securities Holdings
Zeek Rewards/Zeekler Update #8 - 8/31/2012 (latest update from Rod Cook):
WHAT? ASK YOUR LOCAL LAWYER ABOUT THIS! SEC LAWSUIT BY FUN CLUB SNR DENTON (Law Firm) STATEMENT
8/31/12 SNR Denton US LLP represents Fun Club USA and all inquiries about this representation should be directed to Fun Club USA at zeeklegal@gmail.com. SNR Denton’s legal representation is limited to Fun Club USA; SNR Denton does not represent and does not have an attorney-client relationship with affiliates of Zeek, Zeek Rewards, Rex Venture Group LLC or with any individual or party that chooses to provide funds to Fun Club USA
8/31/12 SNR Denton US LLP represents Fun Club USA and all inquiries about this representation should be directed to Fun Club USA at zeeklegal@gmail.com. SNR Denton’s legal representation is limited to Fun Club USA; SNR Denton does not represent and does not have an attorney-client relationship with affiliates of Zeek, Zeek Rewards, Rex Venture Group LLC or with any individual or party that chooses to provide funds to Fun Club USA
(Are contributed funds tax deductible?)
INTERESTING: FUN CLUB USA SAYING 5000 SIGNED UP!
COMPETE.COM SAYS NO TRAFFIC http://siteanalytics.compete.com/zteambiz.com/
ZEEK MONEY/REX VENTURE GROUP HAS PROBABLY OVER $80 MILLION CRAWLING OUT OF HIDEY HOLES IN BANKS AND SECURITIES HOLDINGS (The Court appointed Receiver will grab and add to the $225 million frozen by the SEC!)
N.C. GROUP SUING FOR MONEY BACK IN STATE COURT MAYBE OTHERS BY NOW
LA. Group suing for money back in LA. Federal Court
There are two different groups above (maybe more) suing Zeek/Rex Ventures trying to find the money! Both of are them sorrowfully slow! By now the SEC Court Appointed Receiver has dibs on the money. So that $80 million plus or minus is beyond their reach. The money will be placed in the receivers restitution fund.
LA. Group suing for money back in LA. Federal Court
There are two different groups above (maybe more) suing Zeek/Rex Ventures trying to find the money! Both of are them sorrowfully slow! By now the SEC Court Appointed Receiver has dibs on the money. So that $80 million plus or minus is beyond their reach. The money will be placed in the receivers restitution fund.
THE “SUE THE SEC” FUN CLUB USA COLLECTING MONEY TO SUE THE FTC IN FEDERAL COURT UPDATE ABOVE - 8/31/12
More power to them this hasn’t EVER worked before! These leaders are telling contributors to the Zeek Defense fund that they (FUN CLUB USA) will be the only ones talking to the Attorneys. Whoops!
More power to them this hasn’t EVER worked before! These leaders are telling contributors to the Zeek Defense fund that they (FUN CLUB USA) will be the only ones talking to the Attorneys. Whoops!
That means if you contribute you and you have no communication with your lawyers there is a likelihood of your tax deductions for legal fees. Tell the lawyers (not the money collectors) you want a receipt directly from the law firm.
We (Adrian Frank Consulting and associated companies) are HERE for you, Zeekler friends!
God bless you! Adrian and Jocelyn Frank
CEO/Owners of Adrian Frank Consulting
Cell: 206-261-7348
eMail: adrianfrank@gmail.com, jocelyntranfrank@gmail.com www.BeEmpoweredHere.com FIND your way to making $1000 PER DAY (I'm not kidding). DISCOVER the WEIRD marketing tricks of the Empower Network. WATCH this FREE Video.
This is good for victims of Ponzi and some Pyramid schemes.
At last some relief for innocent folks that fell into the ZEEK REWARDS Ponzi scheme and were burned bad!
Zeek Rewards/Zeekler Update #7 - 8/24/2012 (latest update from Rod Cook):
Rod Cook ur Ed. - At last some relief for innocent folks that fell into the ZEEK REWARDS Ponzi scheme and were burned bad! As we say MLM is good they sell good products or services- Pyramid and Ponzi schemes are not related because they don't. For those who have not been able to tell the difference here is some help thank God!
Thank you Madoff your big Ponzi is actually helping some little folks!
Thank you Madoff your big Ponzi is actually helping some little folks!
UR Ed. Rod Cook - Full Disclaimer check out this information with your local IRS office! And have your tax preparation expert double check it in IRS bulletins. I was told by local office yes it was still in effect but, I don't trust the IRS!
Also the SEC by shutting down Zeek Rewards has give you clear proof that your money was stolen by a Ponzi Scheme!
READ THIS CAREFULLY THE IRS DOCUMENTS ARE CONFUSING! Some of the questions which were answered by this ruling applying to Pyramid and Ponzi loses are:
1.) Is a loss from criminal fraud or embezzlement in a transaction entered into for profit a theft loss or a capital loss under 165 of the Internal Revenue Code,
2) Is such as loss subject to either the personal loss limits in 165(h) or the limits on itemized deductions in t67 and 68?
3.) In what year is such a loss deductible?
4.) how is the amount of such a loss determined and finally
5.) Can such a loss create or increase a net operating loss under 172?
Because of what happened involving the “Madoff” scheme, the Internal Revenue Service has taken a new approach to how to handle any future situations. They have released a set of rules online which are as follows according to the article (link below). The revenue ruling sets forth the formal legal position of the IRS and Treasury Department:
•The investor is entitled to a theft loss, which is not a capital loss. In other words, a theft loss from a Ponzi-type investment scheme is not subject to the normal limits on losses from investments, which typically limit the loss deduction to $3,000 per year when it exceeds capital gains from investments.
•The revenue ruling clarifies that “investment” theft losses are not subject to limitations that are applicable to “personal” casualty and theft losses. The loss is deductible as an itemized deduction, but is not subject to the 10 percent of AGI reduction or the $100 reduction that applies to many casualty and theft loss deductions.
UR MLM Watchdog Editor Rod Cook: This is really good! Check it out!
UR MLM Watchdog Editor Rod Cook: This is really good! Check it out!
•The theft loss is deductible in the year the fraud is discovered, except to the extent there is a claim with a reasonable prospect of recovery. Determining the year of discovery and applying the “reasonable prospect of recovery” test to any particular theft is highly fact-intensive and can be the source of controversy. The revenue procedure accompanying this revenue ruling provides a safe-harbor approach that the IRS will accept for reporting Ponzi-type theft losses.
UR MLM Watchdog Editor Rod Cook: The SEC Receiver's information is going to make proving this part fairly easy.
UR MLM Watchdog Editor Rod Cook: The SEC Receiver's information is going to make proving this part fairly easy.
•The amount of the theft loss includes the investor's unrecovered investment – including income as reported in past years. The ruling concludes that the investor generally can claim a theft loss deduction not only for the net amount invested, but also for the so-called “fictitious income” that the promoter of the scheme credited to the investor’s account and on which the investor reported as income on his or her tax returns for years prior to discovery of the theft.
Some taxpayers have argued that they should be permitted to amend tax returns for years prior to the discovery of the theft to exclude the phantom income and receive a refund of tax in those years. The revenue ruling does not address this argument, and the safe-harbor revenue procedure is conditioned on taxpayers not amending prior year returns.
•A theft loss deduction that creates a net operating loss for the taxpayer can be carried back and forward according to the time frames prescribed by law to generate a refund of taxes paid in other taxable years. UR MLM Watchdog Editor Rod Cook: This is really great! But as I said in the disclaimer up front check every big of this IRS information out!~
IRS INFORMATION ON THIS PROGRAM = HOT LINK
http://www.irs.gov/newsroom/article/0,,id=205374,00.html
http://www.irs.gov/newsroom/article/0,,id=205374,00.html
God bless you all!
Adrian and Jocelyn Frank
CEO/Owners of Adrian Frank Consulting
Cell: 206-261-7348
eMail: adrianfrank@gmail.com, jocelyntranfrank@gmail.com
WATCH this FREE Video. FIND your way to making $1000 PER DAY (I'm not kidding). DISCOVER the WEIRD marketing tricks of the Empower Network HERE !
Zeek Affiliates File Class Action Lawsuit Against Paul Burks, Zeek & Rex Venture Group
In N.C. State Court
Zeek Rewards/Zeekler Update #6 - 8/24/2012 (latest update from Rod Cook):
This afternoon the number went over a 100 affiliates who filed a class-action lawsuit against Zeek, Burks and Rex Venture Group in state court. Where did Paul Burks stash his cash? These folks want to find it! The local newspaper (link below) said that many believe that he stashed millions!
HOWEVER ...
AFFILIATES FILING CLASS ACTION ON ZEEK MAY BE JUMPING OUT OF THE FRYING PAN INTO THE FIRE!
8/25/12 Lexington Attorney J. Calvin Cunningham, who represents the plaintiffs, was unavailable for comment when we called yesterday about his track record. Check this out!!!!
http://www.crimeandfederalism.com/2009/06/j-calvin-cunningham-rips-off-clients.html
http://www.crimeandfederalism.com/2009/06/j-calvin-cunningham-rips-off-clients.html
North Carolina J. Calvin Cunningham has been reprimanded by the North Carolina State Bar for cheating clients. Here is the reprimand:
http://www.ncbar.com/orders/cunningham%20iii%20james%20reprimand%2008g0856%20ocr.pdf
God bless you!
Adrian and Jocelyn Frankhttp://www.ncbar.com/orders/cunningham%20iii%20james%20reprimand%2008g0856%20ocr.pdf
CEO/Owners of Adrian Frank Consulting
Cell: 206-261-7348
eMail: adrianfrank@gmail.com, jocelyntranfrank@gmail.com www.BeEmpoweredHere.com FIND your way to making $1000 PER DAY (I'm not kidding). DISCOVER the WEIRD marketing tricks of the Empower Network. WATCH this FREE Video.
The Zeek Rewards Receivership Website is now set up!
Zeek Rewards/Zeekler Update #5 - 8/22/2012 (latest update from Rod Cook):
RECEIVERS WEBSITE UP WATCH FOR TRAFFIC JAM!
The Receiver may also be contacted (email only) at:
information on receivership
The Latest Update on Zeek Rewards' Court Appointed Receiver information to get YOUR money refunded from the $225 million Zeek SEC-Frozen assets!
Zeek Rewards/Zeekler Update #4 - 8/20/2012:
Well, I told you I would keep you updated as soon as I get the info from Rod Cook and disseminate it right away regarding YOUR money getting refunded out of the $225 million SEC-frozen Zeek/Rex Ventures, LLC assets! So, here's another VITAL update from Rod Cook:
ZEEK TEMPORARY RECEIVER DISCLOSED
United States District Judge Graham Mullen has appointed Kenneth D. Bell as the temporary receiver (that means there may be a delay unless he becomes the permanent receiver. Now he is empowered him to take control of Zeek’s assets and begin an investigation. Mr. Bell is a Partner at the Charlotte office of McGuireWoods, where his practice includes white collar crime. At this time he probably has control of all the material hauled out of Zeek offices by the Secret Service/SEC. In the Federal Court order Paul Burks (Zeke Owner) was ordered provide a list of all assets, employees, and creditors of Zeek to the Receiver within 10 days, and a full accounting of assets, bank accounts, and other property within 30 days. So that means about a month or more will go on until the receiver can really start putting the puzzle together to set up formulas for amounts to be returned. We called the law office of McGuireWoods and were politely told to be patient. :>) Ed. Note: Knew that was coming!
>>>>I will, of course, keep you posted, as well the very moment Rod Cook updates this page so bookmark my blog here and STAY TUNED and feel free to email or call me at the number and/or email address below!
God bless you!
Adrian and Jocelyn FrankCEO/Owners of Adrian Frank Consulting
Cell: 206-261-7348
eMail: adrianfrank@gmail.com, jocelyntranfrank@gmail.com www.BeEmpoweredHere.com FIND your way to making $1000 PER DAY (I'm not kidding). DISCOVER the WEIRD marketing tricks of the Empower Network. WATCH this FREE Video.
Rumor Zeek moving to Europe
Message Put Out from Disguised IP Address
$225 million in Zeek assets frozen, and to be refunded to Zeek affiliates via a court appointed receiver
Zeek Rewards/Zeekler Update #4 - 8/20/2012 (from Rod Cook at MLM Watchdog.com):
Here is that message: ”This is to Inform you all that since we have to stop the Business for few Legal Issues in NC, We have paid the Fines and Penalties and We are shutting down Business for a few days and shifting our Main Office to Europe, since the Law is different there so we can resume our business from there, just keep Patience We’ll come back in the Business, Meanwhile we are launching another company (to keep your Passive Income) under Rex Venture Inc. You’ll be updated About it later Keep sharing the Blog we need your Help keep your Down lines Calm.”
If rumor is true:
1. Not a good idea. European regulators will not welcome a company that has been busted by the U.S. Securities Exchange Commission (SEC).
2. Where is the money coming from? The SEC has first grabs on the $225 million which the SEC is freezing to give to the court appointed receiver for refunds. If the new company has no money, how are you going to get your money back?
3. The SEC will be very upset about this and can declare any fund transfers between you and new Zeek illegal. You sure do not want to get your name or bank # on any list transferring illegal funds!
4. Stay clear!
THE WATCH DOG is working on the court appointed receiver to be able to tell you ASAP when the receiver is ready to start taking claims. KEEP CHECKING THE WATCHDOG. SIGN UP AS A FREE SUBSCRIBER (ABOVE). We are also working on an app for your cell phone.
>>>We'll keep you updated as well. As soon as Rod Cook updates you on the court appointed receiver I will post another update here. So you may stay tuned here as well for any and all updates. Bookmark or add this page to your favorites for easy access.
God bless you! Adrian and Jocelyn Frank
CEO/Owners of Adrian Frank Consulting
Cell: 206-261-7348
eMail: adrianfrank@gmail.com, jocelyntranfrank@gmail.com www.BeEmpoweredHere.com FIND your way to making $1000 PER DAY (I'm not kidding). DISCOVER the WEIRD marketing tricks of the Empower Network. WATCH this FREE Video.
BREAKING NEWS: Zeek Rewards/Zeekler has been shutdown, but Zeek members MAY be able to get some or all of their investments back
Zeek Rewards/Zeekler Update #3 - 8/17/2012:
The SEC Says, the obligations to investors drastically exceed the company’s cash on hand, which is why we need to step in quickly, salvage whatever funds remain and ensure an orderly and fair payout to investors,” said Stephen Cohen, an Associate Director in the SEC’s Division of Enforcement. “ZeekRewards misused the power of the Internet and lured investors by making them believe they were getting an opportunity to cash in on the next big thing. In reality, their cash was just going to the earlier investor.”
The SEC’s complaint alleges that the scheme is teetering on collapse with investor funds at risk of dissipation without its emergency enforcement action. Last month, ZeekRewards brought in approximately $162 million while total investor cash payouts were approximately $160 million. If customers continue to increasingly elect to receive cash payouts rather than reinvesting their money to reach higher levels of rewards points, ZeekRewards’ cash outflows would eventually exceed its total revenue.
Zeek Rewards holds approximately $225 million in investor funds in 15 foreign and domestic financial institutions. Those funds will be frozen under the emergency asset freeze granted by the court at the SEC’s request. Meanwhile, Burks has personally siphoned several million dollars of investors’ funds while operating Rex Venture and ZeekRewards, and he distributed at least $1 million to family members. Burks has agreed to relinquish his interest in the company and its assets plus pay a $4 million penalty.
CAN I GET ANY MONEY BACK?
Additionally, the court has appointed a receiver to collect, marshal, manage and distribute remaining assets for return to harmed investors. Ur Editors Note: generally in deals like this is if you put money in and did not collect commissions to offset the amount you put in you MAY get some back. Sometimes it is a small amount because there is not enough money to go around and the pay back amount by the administrator is reduced. This is not a fast process AS SOON AS THE ADMINISTRATOR IS ANNOUNCED AND OPEN FOR CLAIMS THE WATCHDOG WILL GET THE NEWS OUT FOR YOU TO APPLY.
Zeek Rewards/Zeekler Update #3 - 8/17/2012:
BREAKING NEWS UPDATE: Looks like the potential shutdown process has begun, a LOT sooner than I had thought, actually. An excerpt from Rod Cook's MLMWatchdog.com regarding it:
ZEEK WEBSITE DOWN!
http://zeekrewards.com/
Zeek Rewards is currently unavailable. More information will be available shortly on this website.
http://zeekrewards.com/
Zeek Rewards is currently unavailable. More information will be available shortly on this website.
Aug 16 2012 - The North Carolina Attorney General’s Consumer Protection Division has done something to cause the website to be shut down because of their investigation. The AG had started a Civil Investigative Demand, that rarely doesn't shut a company down. Normally the AG will get a Temporary Restraing Order (TRO) to to lock doors and shut down commerce. No court action on the AG's website so we don't know if the shut doors & missing URL was on part of the AG's office or voluntary on Zeek's part. Zeek has not sent out any email information. Ed. Note: Stand by! Link to N.C. AG news release page.
>>>>For more information, and for more answers - feel free to email me at: adrianfrank@gmail.com
Zeek Rewards/Zeekler UPDATE #2 - 8/11/2012:
Hey everyone, here is a 2nd updated posting from http://www.mlmwatchdog.com/MLM_Watch_list.html from Rod Cook of the DRA (Distributor Rights Association) about Zeek Rewards/Zeekler (things are really heating up for Zeek Rewards/Zeekler):
NORTH CAROLINA AG VIOLATES MLM WATCHDOG RULE - THAT AG’S DON’T TAKE ANY ACTION UNTIL THEY HAVE 20 VALID WRITTEN COMPLAINTS!
Aug 11 2012 - The North Carolina Attorney General’s Consumer Protection Division got 8 complaints about Zeek. Now the Depart Of Justice (DOJ) Division has asked the company (Zeek) to provide them with documents so the DOJ can examine Zeek’s business practices. This is not good, it also violates the MLM WatchDog's standing advice NO AG does anything unless they have 20 or more complaints in file (in other words; they're jumping on this fast)!Your Watchdog Editor predicted this hassle. Last March in Las Vegas I had lunch with Zeek lawyers, a Zeek Consultant (who has now turned on Zeek) and Zeek Corporate Officers. During the lunch (that I paid for) they asked me for advice. Very quickly and quietly I told them to physically move the whole Company to Las Vegas and the Zeek Corporation to Nevada.They looked at me in shock and asked, WHY! I told them at the Attorney General of North Carolina had “no good sense of humor.” It would make good sense to move to a more friendly territory. The next day I had coffee with the Zeek Corporate folks. As we were standing there I asked in my normally brash manner, when is Zeek moving? The reply quickly came back from the Zeek corporate “suits” that Zeek could not move because of their family roots and business connections in North Carolina. It would not be feasible to move! Without thinking I shot back, “hard to move electrons across the country, huh, and walked away. Since then I have figured out they had the wrong consultant! Right?For those of you that like to call me and complain about Zeek here is the link to the North Carolina AG Complaint form. It is a chore to fill out and you need all documentation and dates. It is not a chore for the weak of heart.
>>>>>Everyone go to MLMwatchdog.com and thank Rod Cook for watching out for us like this! He’s probably the world's foremost authority on MLM scams and probably the world's most well-known and well-educated MLM consultant.
Those who know anything about MLM heed Rod Cook’s warnings.
Zeek Rewards/Zeekler UPDATE, 5/28/2012:
Hey everyone, here is an updated posting from http://www.mlmwatchdog.com/MLM_Watch_list.html from Rod Cook of the DRA (Distributor Rights Association) about Zeek Rewards/Zeekler:
ZEEK SHORT FUSE = DEAD CHECKS
29 May 2012 - ANNOUNCEMENT - Zeek/Zeek Rewards is currently in the process of moving to a bank that can handle our growing needs and while in transition will be closing our old accounts with both New Bridge Bank and BB & T,” (both FDIC Insured) Zeek said on its news Blog. “Please be sure to deposit or cash any commission checks immediately so they clear before June 1st, 2012 or they will be returned to you with ‘account closed’ and will need to be reissued.” No reason was given and a new bank was not named yet.
Zeek international uses AlertPay (now Payza) and SolidTrustPay for transactions outside the U.S. Both AlertPay and SolidTrustPay are watched by FEDS (and Interpol) for being friendly to scams such as HYIPs, autosurfs and cycler matrices.
>>>>>Everyone go to MLMwatchdog.com and thank Rod Cook watching out for us like this! He's probably the foremost authority on MLM scams and probably the most well-known and well-versed MLM consultant in the entire world.
Those who know anything about MLM heed Rod Cook's warnings.
Heed Rod Cook's warnings. Period.
This has been an update on this blog post. Here is the original blog post:
Below is a letter I wrote to a friend of mine who is in Zeek Rewards/Zeekler, and I thought I would share this with all of you because you can go ahead and cash out of Zeek Rewards while you can and get the most money out as you can before it gets shut down or they stop cashing people out. Read below why.
For privacy's sake, I'm using the name Susie which isn't my friend's name.
"Dear Susie,
This isn't easy because I know you and your family are doing really well and taking in a bunch of extra income (or promised income) in Zeekler/Zeek Rewards, but I feel you should know this stuff if you're thinking or planning on Zeek Rewards being there long term. I've been doing a ton of digging and research about Zeek Rewards because I've heard nothing but red flags (except from you folks) about Zeekler/Zeek Rewards and the research I've done thus far only serve to confirm these red flags.
First of all, I was talking about Zeek Rewards after the phone conversation I had with you, Susie, with a friend of mine, Phil Correia who has 52% of the entire distributorship in his downline in Xyngular. He said there's no question in his mind that it's a Ponzi scheme and he told me that when the government (probably an Attorney General trying to make a name for himself or the Federal Trade Commission so he can run for governor in whatever state Zeekler has a business nexus in).
Secondly, below is some copy and pasted info from www.MLMWatchDog.com , but before you read that please read some reasons why MLM WatchDog is such an authoritative source (in case you haven't heard of Rod Cook/Distributor Rights Association/MLM WatchDog before). Here is a chat between another friend of mine I had on Facebook today who has over 25 years in the MLM industry:
George: Rod Cook at MLM Watch dog is 98% right...I mean chances are pretty good that if Rod Cook says it's a scam, it's really a scam. Other sites not so much. But Rod, yes.
Rod believes in MLM. he isn't some guy trying to bash someone for no reason
Adrian: yes I agree
George: He's also already rich, so he's not out there trying to make his first dollar like the rest of the scam sites
Adrian: well, he's not saying outright that Zeekler IS a scam, but he's got them on the watchlist
George: Well, then he hasn't said they are for sure a scam then. He's pretty careful about calling something a scam.
>>>I already mentioned to you, Susie, about MLMwatchdog.com the other day on the phone, but here's exactly what Rod Cook posts about Zeekler on MLMWatchdog.com:
WATCH LIST OF SHAKY TO FLAKY COMPANIES = DANGER
ZEEK REWARDS UPDATE
Feb 4th 2012 ZEEK REWARDS has hired not one but two MLM law firms to pull them back from what was a sure meeting with the law! They also hired a complan builder to work on building a system that does not look like gambling. One of the major activities they are taking for protection is DISTRIBUTOR COMPLIANCE so that Distributors do not describe the Zeek opportunity as a ponzi scheme like they have been? I wonder how they get all those ponzi claim videos off of http://www.youtube.com to get them to safe harbors? Here is one Zeek pitch the audio has been removed from so the compliance does have a trickle down effect opens > new window http://www.youtube.com/watch?v=sa9D5O71Q6M
others we can't be so sure because they go to blind web site which means Zeek Police (as Zeek Distributors are calling them) this opens new window!> http://www.youtube.com/watch?v=8xtMDxBf8Zo&feature=related
I am leaving ZEEK on the Watch list so we can see how their compliance battles work. I think we will see Distributors terminated over this (always bad) to protect the company.
ZEEK REWARDS I AM GETTING A LOT OF QUESTIONS
Jan 25 th 2012 ZEEK REWARDS is the MLM arm for a penny auction named Zeekler. Penny auctions are addictive like gambling. Their compliance is bad with distributors making some wild claims like "mega money no recruiting or selling. The buying of points or credits for the auction and their use is questionable. The owner Paul Burks ran Free Store Club and an Internet mail program New Net Mail in years past both generated some complaints. The biggest problem I see is that they are in North Carolina who has no good sense of humor about any MLM.
>>>Pay special attention to the phrase "North Carolina has no good 'sense of humor' about any MLM". This confirms what I already knew about North Carolina. I don't know why ANY MLM would want to start an MLM in NC. I can't believe Zeekler is based there. This is a huge mistake by Paul Burks, Zeekler's CEO.
The Attorney General/FTC in North Carolina shuts down pretty much EVERY MLM that is birthed in NC, let alone an MLM that so many people, including many MLM industry leaders, are crying out "Ponzi scheme". I don't think that, over the past 20 years or so, that North Carolina has produced ANY MLM that doesn't get shut down by the AG and/or the FTC. Yeah, the NC government is notorious for this.
As soon as this hits 60 minutes or 20/20 (or possibly long before that as more and more people like Rod Cook cry "Ponzi") because of these distributor compliance battles and North Carolina threatening to shut Zeek Rewards down, there is going to be a mad dash and run by the masses on their accounts. Everyone and their dog in Zeek Rewards are going to be trying to cash out of their accounts, and, if the AG and/or the FTC hasn't already frozen Zeek Reward's merchant account by then.
What I'm reading so many MLM industry leaders saying (there is a plethora of reviews sites on the Internet saying the same thing), and what concerns me the most for you is that, even if NC doesn't shut it down (this is highly unlikely), Zeek Rewards will not have the cash to cover the tens of thousands and possibly hundreds of thousands of Zeek reps whom have reinvested over and over again and have accounts that are $50,000 and higher. There just won't be enough cash to do it.
Anyways, the bottom line is that I'm seeing nothing but disturbing things about Zeek Rewards and I would recommend you cash out and get your enormous accounts paid out TODAY (if it's not already too late/if they will pay it), and always, always, always check www.MLMWatchdog.com before joining and/or actively build any MLM. This will save yourself a lot of hardship, frustration, time and money.
Thanks,
Adrian"
God bless you! Adrian and Jocelyn Frank
CEO/Owners of Adrian Frank Consulting
Cell: 206-261-7348
eMail: adrianfrank@gmail.com, jocelyntranfrank@gmail.com www.BeEmpoweredHere.com FIND your way to making $1000 PER DAY (I'm not kidding). DISCOVER the WEIRD marketing tricks of the Empower Network. WATCH this FREE Video.
