ZeekRewards Investors Launch Class Action Over $600M Scam

Law360, New York (August 27, 2012, 3:55 PM EDT) -- The owner of the website ZeekRewards.com was hit with a putative class action Friday over its alleged $600 million Ponzi scheme, a week after he reached a $4 million settlement with the U.S. Securities and Exchange Commission in connection with the purported fraud.

Plaintiff Johnny Belsome is leading the suit in Louisiana federal court accusing Rex Venture Group LLC and Paul Burks of scamming about 1 million investors through the website, which presented itself as an advertising division of a site that operated penny auctions....
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