The Truth Behind Zeek Rewards
Zeek Rewards Review – Shut Down by the SEC!
Company Name: Zeek Rewards
Website: www.zeekrewards.com (now disabled)
Price: No longer available.
Owners: Paul Burks, The Rex Venture Group
Overall Rank: 0 out of 100
Zeek Rewards – What Went Wrong?
Looking at Zeek Rewards, a program that allowed people to earn rewards through a variety of programs as well as having its own affiliate program, you’ll find now a site that was shut down for several legal infractions. At the time of it being shutdown there was a lot of backlash in the industry as there were many affiliates promoting the illegal Ponzi scheme. Most who had taken part had invested a lot of money into promoting the product, and it was money lost.
By the middle of 2012, Zeek Rewards was one of the 100 most popular websites in the world. However, as with all Ponzi schemes, a fall was inevitable. To take a closer look at its history, look at the rise and fall based on this Alexa website traffic chart.
On August 17, 2012, the Security and Exchange Commission, or rather SEC, announced that the Zeek Rewards program would be shut down based on allegations that it was running a pyramid or Ponzi scheme that had allegedly lured over 1 million investors (it later became known as the “$600 million dollar Ponzi scheme.”
The founder of the company, Paul Burks, had drawn nearly #11 million out of the company but was then required to give up his Texas-based company, Clifton Jolley, as well as all of the assets. The SEC also required him to pay $4 million dollars in penalty to the SEC. It is known now as one of the most profound Internet Ponzi schemes ever created and many people are suprised by the mass number of people who were sucked into it. But is it really that surprising?
Pros vs. Cons
Pros:
– NONE hence being investigated for varying counts of fraud by the SEC and shut down
Cons:
– Under investigation by the SEC for securities and trust fraud related to its business practices
– Ponzi scheme that scammed nearly $600 million dollars from its former members….$600 Million!!
– Better Business Bureau score of F – several Ripoff Reports filed
– No longer exists
So In case You’re Curious at This Point – What Was Zeek Rewards?
ZeekRewards.com used to be a program designed to be used by over a million people. It consisted of two parts, ZeekRewards.com which consisted of “affiliate advertising” and a penny auction site Zeekler.com
When you entered the program you paid in at a set level and made money by getting others to sign up under you. All of the so-called “profits” made were then sent up the line and distributed, in varying amounts, to the people below. It was clearly a pyramid scheme that somehow managed to fool a massive number of people who thought they were getting in on the “next big thing”.
My Final Say on Zeek Rewards – If It’s Not Obvious!
Obviously, this program was a scam, however…be warned that many who were involved in the upper tier have moved on to promoting other things on the internet…other “next best things”…so while it things online are somewhat improved because of the action the SEC took against this program, it’s not completely safe out there. So be careful, do your homework and if you find that any program you are researching has someone involved that was previously involved with ZeekRewards…be wary.
Name: Zeek Rewards, Zeeklr
Website: www.zeekrewards.com (now disabled)
Owners: Paul Burks, The Rex Venture Group
Overall Rank: 0 out of 100 points.
VERDICT: SCAM, Shut down by SEC
If you have a personal review about Zeek Rewards please feel free to leave a comment below. Thanks for reading!
Kat
Owner, OnlineStayatHomeJobs.com
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