Pyramid schemes

Multilevel marketing scheme bilked victims out of thousands of dollars

August 6, 2008 -- TALLAHASSEE, FL – Florida Attorney General Bill McCollum today filed a lawsuit today against Quincy company AdSurfDaily accusing the company and its owners of operating a huge pyramid scheme. The Attorney General’s lawsuit is seeking civil damages for the victims and an injunction against the company, its president, Andy Bowdoin Jr., and its employees to prohibit them from engaging in future deceptive marketing.

The lawsuit comes on the heels of a raid conducted by the U.S. Secret Service on the company’s headquarters. The federal authorities also froze $53 million in bank accounts held by the company.    » read more »

August 5, 2008 -- LOS ANGELES -- California Attorney General Edmund G. Brown Jr. today announced a lawsuit against YourTravelBiz.com for operating a "gigantic pyramid scheme" that recruited tens of thousands of members with deceptive claims that members could earn huge sums of money through its online travel agencies.

“YourTravelBiz.com operates a gigantic pyramid scheme that is immensely profitable to a few individuals on top and a complete rip-off for most everyone else,” Attorney General Brown said. “Today’s lawsuit seeks to shut down the company’s unlawful operation before more people are exploited by the scam.”    » read more »

To Be Sentenced On Wednesday

October 29, 2007 -- BOSTON – A Suffolk, Massachusetts Superior Court jury convicted a Dorchester husband and wife in connection with operating an illegal pyramid scheme that resulted in hundreds of individuals in the Boston area losing thousands of dollars. Eric Johnson, age 47, and Margarita Stewart Johnson, age 50, were found guilty of setting up or promoting an illegal lottery. The jury returned their verdict late Friday afternoon. Both are scheduled to be sentenced on Wednesday, October 31, 2007.    » read more »