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Zeek Rewards Archives

Zeek Refund

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Zeek Refund

Today Npros reports Zeek Members are one step closer to getting money back.

See The Full Zeek Refund Report

Zeek refund

Zeek Refund

The court-appointed receiver for Rex Venture Group and ZeekRewards has recovered nearly $300 million in assets so far and says that there may be tens of millions of dollars more to secure.

Kenneth Bell of the Charlotte law firm McGuireWoods LLP was appointed to recover assets after the SEC shut down ZeekRewards, calling it a Ponzi scheme that was close to collapse. Once all assets have been recovered, which Bell said will take months, Zeek affiliates will be able to make claims to get money back.They will be deluged with Zeek refund requests when and if it happens.

Zeek Refund – Some Jusrt want to keep Zeek alive …

Some Zeek affiliates are defending the Ponzi scheme allegations and have signed a petition to keep ZeekRewards alive, saying that the shutdown has “devastated” them and that the company has given them “the leadership and the freedom to support our families.”

Are you due a refund from Zeek? Stay tuned in to the news for details.

Paul Burks, the founder and CEO of ZeekRewards, agreed to pay a $4 million penalty and relinquish his interest in the company, without admitting or denying guilt.

Receiver Recovers 300 Million in ZeekRewards Assets. Possible refund on the way for Zeek Rewards Members.

Troy Dooly’s site MLM Helpdesk just submitted a report stating that US based and international terrorist groups may have been laundering money through Zeek Rewards. Could be part of the reason for the extra attention drawn to this company. If you were an active Zeek Rewards member make sure you watch the news to get your potential Zeek Refund.

MLM help desk reported:

When you review Kenneth D. Bell’s background, trend some of the cyber-terrorism activity I have talked about early last year against Zeek Rewards through the credit card fraud, and realize that the majority of funds deposited by Rex Venture Group, came from overseas, some from the Mideast and other known terrorist locations, you start to get the picture that the appointment of Kenneth Bell was more than just a “political appointment.”

Here is a little more details about Mr. Kenneth D. Bell

Source: PR News Wire

White Collar Criminal Defense and Special Investigations Group Joins Litigation Practice at Hunton & Williams

“Ken is a superb litigator and has developed a strong network of white collar criminal defense lawyers,” added Tom Cottingham, managing partner of the Charlotte office. “His experience in high-stakes investigations-such as his role in the 2002 conviction of a Hezbollah cell in Charlotte-provides him an in-depth understanding of the challenges facing our clients.”

The white collar and special investigations practice at Hunton & Williams covers a broad spectrum of white collar cases, including environmental criminal and regulatory enforcement actions; health care fraud; internal and government investigations; public and private corruption, bribery, and kickback schemes; tax violations; money laundering; computer-related criminality; financial, banking, and securities laws violations; U.S. Customs investigations into dumping, undervaluation, high technology transfer, and smuggling; Foreign Corrupt Practice Act violations; international and domestic fraud schemes of every type; RICO proceedings; and espionage and terrorism cases.

See full report via Mlm Company Review | MLM Help Desk.

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Zeek Refund

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Zeek Rewards Shut Down Forever – Labeled By SEC As Ponzi Scheme

Well It’s Official … Rex Venture Group and Zeekler and Zeek Rewards is Closed forever by the SEC or Securities Exchange Commission and fraud charges have been filed against internet marketer Paul Burks of Lexington, N.C. and his company the Rex Venture Group.

zeek rewards shut down

Zeek Rewards Shut Down By SEC!

Zeek Rewards shut down and charges filed …

The complaint filed by the SEC in federal court in Charlotte, N.C., stated that customers were offered several ways to earn money in the  ZeekRewards program and two of these included purchasing securities in the form of investment contracts. The problem here was that these particular securities offerings were never registered with the SEC as is required under existing federal securities laws.

The SEC complaint also states that Paul Burks was personally siphoning millions of dollars in investors’ funds in the operation of his company Rex Venture Group and ZeekRewards. It went on to state that he distributed at least $1 million to his family members.

The SEC has Frozen all assets of Rex Venture group and Zeekrewards.

Zeek Rewards Shut Down

Burks agreed to settle the SEC’s charges against him without admitting nor denying the allegations. He also agreed to cooperate with a court-appointed receiver.

Zeek Rewards shut down – Customers and Affiliates Betrayed

This betrayal of customer and affiliate trust has left many Zeek Rewards affiliates who were doing quite well with no more income. Many are flocking to the Ready To launch Penny Auction Business Ultimate Power Profits and joining as free members taking their whole zeek affiliate teams with them ready to earn immediate profits as soon as Global one Ultimate Power Profits launches. 

Due to the Zeek Rewards shut down, now is the perfect time to get into this new promising Ultimate Power Profits Penny Auction business as you will undoubtedly pick up some Zeek Rewards members with a little careful advertising.

The Zeek Rewards Shut Down and Affiliate and customer betrayal should stand as a warning and as an example of how not to do business for other Penny Auction Businesses!

Below is the Complete SEC Zeek Rewards Shut Down Press Release

2012-160

Washington, D.C., Aug. 17, 2012 – The Securities and Exchange Commission today announced fraud charges and an emergency asset freeze to halt a $600 million Ponzi scheme on the verge of collapse. The emergency action assures that victims can recoup more of their money and potentially avoid devastating losses.

The SEC alleges that online marketer Paul Burks of Lexington, N.C. and his company Rex Venture Group have raised money from more than one million Internet customers nationwide and overseas through the website ZeekRewards.com, which they began in January 2011.


Zeek Rewards shut down … See the Zeek Rewards SEC Complaint


According to the SEC’s complaint filed in federal court in Charlotte, N.C., customers were offered several ways to earn money through the ZeekRewards program, two of which involved purchasing securities in the form of investment contracts. These securities offerings were not registered with the SEC as required under the federal securities laws.

The SEC alleges that investors were collectively promised up to 50 percent of the company’s daily net profits through a profit sharing system in which they accumulate rewards points that they can use for cash payouts. However, the website fraudulently conveyed the false impression that the company was extremely profitable when, in fact, the payouts to investors bore no relation to the company’s net profits. Most of ZeekRewards’ total revenues and the “net profits” paid to investors have been comprised of funds received from new investors in classic Ponzi scheme fashion.

“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.

Burks has agreed to settle the SEC’s charges against him without admitting or denying the allegations, and agreed to cooperate with a court-appointed receiver.

According to the SEC’s complaint, ZeekRewards has paid out nearly $375 million to investors to date and 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. Additionally, the court has appointed a receiver to collect, marshal, manage and distribute remaining assets for return to harmed investors.

The SEC’s investigation was conducted by Brian M. Privor and Alfred C. Tierney in the SEC’s Enforcement Division in Washington D.C. The SEC acknowledges the assistance of the Quebec Autorite des Marches Financiers and the Ontario Securities Commission.

———————–

Zeek Rewards shut down source SEC press release:

http://www.sec.gov/news/press/2012/2012-160.htm

Take advantage of this Zeek Rewards shut down situation and make it good for you especially if you were a Zeek rewards Member. Join Ultimate Power Profits Now as a Free Affiliate and be ready to start profiting with the upcoming new launch of this powerful Penny Auction business.

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Zeek Rewards shut down

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Zeek Rewards Investigation – Zeek Rewards Closed Pending Investigation

Zeek Rewards Investigation

Zeek Rewards Investigation

Update … Following the blog post below the SEC filed a complaint against Rex Ventures and Zeek rewards for fraud and froze their assets as well as labeling them a 600M Ponzi scheme. See full post at:

Zeek Rewards Shut Down Forever – Labeled By SEC As Ponzi Scheme

The fate of Rex Ventures and Zeek rewards is in the hands of the North Carolina Attorney General’s office due to the fact that dozens of Zeek Rewards users had filed complaints and inquiries in the past several months.

Zeekler / Zeek Rewards affiliates who were doing quite well with Zeek rewards are now left in the dark as to their future income due to the current Zeek Rewards investigation by the North Carolina attorney generals office .

Many Zeek Rewards looking for a suitable option with similar and even better affiliate compensation plan in the penny auction field are jumping on the pending launch of  Global One Ultimate Power Profits as free affiliates and bringing whole teams with them.

Troy Dooly reports that the News is not encouraging for Rex Venture Group due to this  Zeek Rewards investigation but very good for the soon to launch Ultimate Power Profits and probably also Zeek Rewards members left out in the cold because signing up as a free affiliate before the Ultimate Power Profits launch within the next couple of weeks allows them to bring in their whole Zeek Rewards team and be in a position to immediately profit and get off to a running start.

Zeek Rewards investigation local News Release …

The Local North Carolina news reported that their were closed signs on the doors and that employees were changing the locks on the doors at Rex Ventures Zeek rewards / Zeekler home office. This is an indication that there is an ongoing administrative investigation going on and employees were seen taking boxes out of the office. Now this does indicate that there is no was no active criminal investigation at that time as nothing would be allowed to be removed from the building.

Their websites have only a notice stating ‘Zeek Rewards is currently unavailable. More information will be available shortly on this website.’ This is a good indication that a state or Government regulatory group has told Rex Venture group that they are not allowed to take in any more money as a Zeek Rewards investigation is in progress.

As Troy Dooly stated in the video above, Zeek called off their red carpet event planned as no one is supposed to be talking during an ongoing investigation so if you had plane tickets hopefully you can get a refund due to circumstances beyond your control because of the Zeek rewards investigation.

Most likely Employees have been terminated since other employees were seen changing the locks on the doors. If Zeek Rewards and Rex Venture group were being criminally investigated it would be law enforcement that would be changing the locks on the doors during this Zeek Rewards investigation.

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Zeek Rewards – Review

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Zeek Rewards

Zeek Rewards is Zeekler.com’s affiliate program which allows affiliates to earn daily profit sharing for bids their recruited customers buy as well as each Zeek Sample bid they give away to their customers through the ZeekRewards Retail Profit Pool.

Zeek Rewards

Zeek Rewards

So can you really make money with ZeekRewards affiliate program or should you not waste your time, money and effort ? I have had a friend trying to get me to jump into Zeek Rewards for awhile now so I thought I’d at least review it.

Zeek Rewards – Review

ZeekRewards and Zeekler which is their actual penny auction site. They are both owned by the company Rex Venture Group LLC, which is a subsidiary of Lighthouse America, in the state of Nevada. The company itself has been in business for about 14 years so as these things go it is at least a stable company.

Looking at the bad side Zeek Rewards has an ‘F’ rating at the Better Business Bureau which lists:

Reason for Rating

Zeek Rerwards Rex Venture Group BBB rating is based on 16 factors. Get the details about the factors considered.

Factors that lowered the rating for Rex Venture Group include:

  • 25 complaints filed against business
  • 14 serious complaints filed against business
  • BBB does not have sufficient background information on this business

17 of the 25 complaints filed against Zeek Rerwards Rex Venture Group were related to problems with products and service. Keep in mind however these 25 complaints happened over the past 3 years and all complaints have been closed.

Now you’ll also find many reviews stating that Zeek Rewards is a good solid company and people are definitely making money with it. As with any affiliate program it all depends on the work YOU put into it! If you know how to target the people who are actively looking for a product or a service you can make money with it. Period.

How do You Make Money With ZeekRewards ?

Associates can qualify to earn rewards on every Retail bid they sell and every VIP bid they buy and give away as samples!

Here’s How it Works:
Zeek Rewards has what they call a Retail Profit Pool where they state that they share up to 50% of the daily net profits with its Qualified  Zeek rewards Affiliates*.

You have to sell Retail Bids or give away VIP Bids from ZeekRewards you can earn VIP Cash Awards every day for 90 days on the VIP Points you received. Supposedly you make money by placing  ONE FREE AD for Zeekler.com daily and submitting the link to your ad through your ZeekRewards Ad Center in your Zeek rewards back office.  How well this works I do not know but I would bet that those actually making money with this are doing more than placing one free ad a day through Zeek rewards.

Now according to the Zeek rewards literature, each time you sell Retail Bids or give away VIP Bids as samples to  customers through your ZeekRewards back office the bids they place earn you points in your ZeekRewards VIP Profit-Point balance. Then at the end of each day  the company determines its overall revenues and shares up to 50% of it’s net profits with its Qualified Zeek rewards Affiliates* based on each individuals VIP ProfitPoint Balance.

Now there is a good size paragraph listing the qualifications leaving the company plenty of wiggle room on it’s promise of payments so if you are doing this be sure you satisfy the requirements!

Could Zeek Rewards Be Considered a Scam?

In my opinion and from what I have read on Zeek Rewards I would say no, however there are always those who attempt to promote something for a week and when it does not make them money even though all they did was send an email to a bunch of safe-lists or post it on a hundred traffic exchanges, they quit and then start putting out posts in forums saying it is a scam. Unfortunately instead of learning how to market properly this is what happens with 80 to 90% of new affiliate marketers.

As with anything whether it is affiliate marketing or MLM / Network marketing etc, it all depends on what you put into building your business and spending the time to learn to drive traffic to your opportunity.

Zeek Rewards Review Wrap Up

Zeek Rewards may be worth further research if you are looking to build a business from home and generate additional income.

Your main concern is going to be how to effectively get traffic and bidders to your Zeek Rewards Bid site. If you are interested in a way to drive traffic to your Zeek rewards site or any other business or if you are looking for a profitable stand alone business that pays 100% commissions and has the side benefit of driving it’s own Traffic you owe it to yourself to check out Empower Network .

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