Zeek Scam Update: Criminal charge filed against payment processor – Free SEO Tools Inside!

March 27, 2016 Facebook Twitter LinkedIn Google+ MLM & Affiliate Marketing News

Zeek payment processor Scam Alert

Criminal charge filed against Zeek payment processor

Posted: 26 Mar 2016 06:43 PM PDT

In yet another blow to merchants who facilitate the operation of MLM Ponzi schemes, a criminal charge has been filed against the owner of one of Zeek Rewards’ payment processors. Our characters in this story are: Zeek Rewards – an $850 million dollar Ponzi scheme Preferred Merchants – one of Zeek Rewards’ payment processors and Jaymes Meyer [Continue reading…] Source: Criminal charge filed against Zeek payment processor

The evidence establishes that Preferred Merchants and Meyer directed the $4.8 million transfer from the RVG trust account to Preferred Merchants’ accounts just 19 minutes after the SEC told them about the asset freeze and imminent shutdown of RVG.

This is unlikely to be a coincidence.

Meyer falsely (implied) that Preferred Merchants did not exercise dominion or control over any RVG assets.

In truth and fact, Meyer, through Preferred Merchants, was the trustee over the RVG Trust Account, which then held approximately $17.4 million in RVG assets.

Approximately 20 minutes following his phone call with the SEC, Meyer emailed a representative of Bay Area Escrow and directed her to transfer approximately $4.8 million from the RVG Trust Account to (a) Preferred Merchants E*Trade brokerage account.

The next day Meyer emailed a representative of the Bay Area Escrow and directed her to wire transfer approximately $1 million from the RVG Trust Account to an attorney trust account at a national law firm.

In the same email, Meyer directed the Bay Area Escrow representative to stop all incoming and outgoing transfers from the RVG Trust Account.

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

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