Head Of $900M ZeekRewards Ponzi Scheme Gets 15 Years

Law360, Washington (February 13, 2017, 6:50 PM EST) -- A North Carolina federal judge on Monday sentenced the former chief executive of ZeekRewards to serve nearly 15 years in prison and pay $244 million in restitution for his role operating a $900 million internet Ponzi scheme.

Paul Burks, the 70-year-old owner and operator of sham internet-based penny auction company Zeekler and its advertising arm, ZeekRewards, was sentenced to 176 months in prison for wire and mail fraud conspiracy, wire and mail fraud, and tax fraud conspiracy after a three-week trial related to an alleged Ponzi scheme the U.S. Department of Justice said victimized more than 900,000 people. Burks was also...

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