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Small Suckers Add Up To Big Ponzi Scheme At Zeekrewards

Sunday, August 19, 2012 - 4:43 PM
Rex Ventures and its two operations, and Zeekler are believed by the SEC to have scammed a total of $600 million from unwary victims.  What’s mammoth this time is that Ron Burks of LexingtonNC got more than a million people to participate in his penny auction bidding scam.  Of course, the more people you brought in, the more you stood to earn yourself, especially if you kept mounding up points instead of asking to cash them out.

Small Suckers Add Up to Big Ponzi Scheme at ZeekRewards - Forbes
ShorebreakShorebreak2,674 posts since
Apr 6, 2010
Rep Points: 14,508
1. Wednesday, August 22, 2012 - 6:20 PM
This MarketWatch article (via Yahoo! Finance) provides some interesting info on this ponzi scheme and how it was able to keep and attract victims.
Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
Rep Points: 125,611