NewBridge Bank return $10 million Zeek victims – Auto Post 80 Blogs Social Sites


March 20, 2016 Facebook Twitter LinkedIn Google+ MLM & Affiliate Marketing News



NewBridge Bank Zeek Rewards Scam Alert

NewBridge Bank to return $10 million to Zeek victims

Posted: 19 Mar 2016 06:21 PM PDT

Good news for Zeek Rewards victims, not so good news for banks who think they can get away with providing financial services to Ponzi schemes. As part of the Zeek Receiver’s ongoing efforts to hold accountable service providers and vendors who provided services to Zeek Rewards, a $10 million dollar settlement with NewBridge Bank has been [Continue reading…] Source: NewBridge Bank to return $10 million to Zeek victims

RVG’s account balance went from approximately $1,000 in January 2011 to over $1,000,000 in August 2011.

By March 2012, RVG was NewBridge’s largest depositor, depositing $54 million in March 2012 alone.

on April 17, 2012, two NewBridge executives met with Burks and terminated NewBridge’s relationship with RVG, telling Burks to find another bank for RVG.

However, the Receiver also contends that, at the same time, with knowledge of the fraudulent nature of the ZeekRewards business, NewBridge entered into an agreement with Burks to continue to process RVG’s incoming deposits and outgoing “commission” checks, the lifeblood of the ZeekRewards scheme, until May 15, 2012.

At Burks’ request, NewBridge later extended the agreement and continued to pay “commission” checks drawn on RVG’s NewBridge account through June 2012.

Additionally, NewBridge’s executives agreed to keep NewBridge’s decision to terminate its relationship with RVG confidential to facilitate a quiet move of RVG’s accounts to another bank.

Read the full article and join in the discussion over at BehindMLM.

Best Places Advertise Free Auto Post 80 Blogs Social Sites

Click Here For Auto Post 80 + Blogs Social Sites – JOIN FREE

Live Internet Affiliate Marketing, MLM, Social Networking Training…

Using Blab & Twitter Periscope

Join Harvey The Silver Fox & Marty Bostick for Live Internet Affiliate Marketing Social Networking Training. They will be training for Joint Ventures, Business Building Tips, Affiliate Income Tips, Mobile Marketing, SEO Optimization, Video Marketing, Email Marketing, Directory Listing Optimization, Google Listing Optimization, Google Adwords Management, Website Traffic, Lead Capture Pages, AutoResponders, Email Marketing, Proper Web Design, Working With WordPress, Marketing Automation, Blogging, 1st Page Google Ranking, CoOp Marketing, Lead Generation, Telemarketing, Voice Broadcasting, List Building, Link Tracking, Tracking Phone Numbers, Rotators, Google PLUS, How To Use Twitter Periscope To Build Your Biz, How To Use BLAB To Build Your Biz, and more…

Catch Marty on Periscope using the button below…

Best Places Advertise Free Periscope Click Here

Comments

The owner of this website is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon properties including, but not limited to, amazon.com, endless.com, myhabit.com, smallparts.com, or amazonwireless.com.
Home Privacy Policy Terms Of Use Contact Us Affiliate Disclosure DMCA Earnings Disclaimer