Yesterday, I blogged about the shutdown of 12dailypro, a website allegedly operating a Ponzi scheme. However, the link I had in there may not have worked, as it was a paid WSJ article. I have a new link that’s got the vital info, without any payment required.
This is pretty big news. This is a $50 million Ponzi scheme.
The U.S. Securities and Exchange Commission alleged that Charis Johnson, 33, raised more than $50 million from more than 300,000 investors by convincing visitors to the Web site that they could earn a 44 percent return on their investments in 12 days by looking at Internet advertisements.
The scheme, which the SEC calls “paid auto-surf,” required users to buy $6 “units”—up to a maximum of 1,000 units—and to view advertisements from what were described as paying advertisers
(Thanks, Larry, for the link)