Reload Scams Targeting Profitable Sunrise Victims - Essay Example

It is a common thing for scammers to use the naivety of Ponzi scheme victims to rip off some more cash. The same thing is happening every time in the so called “HYIP Industry” when a pyramid is collapsing that was very popular and lasted for quite a while. The same is now happening to the recently collapsed Profitable Sunrise HYIP Ponzi scheme and its victims.

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According to the North Carolina Secretary of State, Elaine F. Marshall, there are various scams which promise to return the investors lost money in exchange for a fee that has to be paid in advance. The same already happened to victims of the $600 million Zeek Rewards Ponzi scheme which collapsed last year. Here is the official warning that was issued by Elaine F. Marshall:

The NC Securities Division has learned that Profitable Sunrise investors are being contacted with promises of help in getting their money back for them. The Securities Division is issuing this alert to warn investors that such promises may be yet another attempt to scam them again through a “reload scam”.

Reload scams hit consumers when they’re down, offering to help them make back money they lost to a previous scam or bad business decision. These scams have been popular for years with telemarketing fraud rings but can also follow other types of fraud, including investment fraud.

Such reload scams were aimed at victims of the Zeek Rewards Ponzi scheme last year. Reload scammers used social media sites and online news releases to tout opportunities to help investors replace the income they were receiving from Zeek Rewards. Similar opportunities are being touted in the case involving Profitable Sunrise. Investors are warned to stay away from such “opportunities”.

The noise around the Profitable Sunrise Ponzi scheme started on February 27 this year, when North Carolina issued a cease-and-desist order against the Profitable Sunrise “program” and its operators Roman Novak and Radoslav Novak. Profitable Sunrise operated through a British company under the name “Inter Reef LTD”.

At least 35 states and provinces in the USA and Canada issued warnings and cease and desist letters as a follow up. The SEC also stepped in on April 4, saying that Profitable Sunrise was a Ponzi scheme that collected tens of millions of dollars from investors. According to the SEC, many promoters of the program have pushed it without even knowing what they are playing with.

We highly recommend to stay away from every offer that is claiming to recover your full losses or parts of it from the Profitable Sunrise Ponzi scheme. Furthermore, we also recommend not to listen to your sponsors or anyone else who was involved into the Ponzi scheme. We highly recommend you to do police reports regarding Profitable Sunrise as well as your up line. It is also important to provide them any evidence you might have collected.