SEC Shuts Down $600M Ponzi Scheme

Law360, New York (August 17, 2012, 10:03 PM EDT) -- The U.S. Securities and Exchange Commission on Friday froze assets from an alleged $600 million Ponzi scheme and reached a $4 million settlement with the purported head of the scam, who is accused of bilking 1 million customers through the website

The SEC obtained an emergency asset freeze Friday while simultaneously launching its North Carolina securities fraud suit against ZeekRewards owner Paul Burks, who agreed to settle the SEC's claims by paying a $4 million penalty and relinquishing his assets in Rex Venture Group LLC,...
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Case Information

Case Title

Securities and Exchange Commission v. Rex Venture Group, LLC et al

Case Number



North Carolina Western

Nature of Suit



Graham Mullen

Date Filed

August 17, 2012

Government Agencies

UK Financial Services

UK Financial Services

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