RALEIGH, NC (AP) — The receiver for a North Carolina company which officials say operated a $600 million Ponzi scheme that is on the verge of collapse says as many as 2 million people may have invested in ZeekRewards.com.
Charlotte attorney and court-appointed receiver Kenneth Bell said it will be a “long time” before any money returns to the hands of affiliates who bought in with Zeek Rewards. He said officials want to see substantially all of the funds before they start issuing checks.
Federal securities regulators last week filed fraud charges and an emergency order to freeze the assets of Rex Venture Group LLC. Online marketer Paul Burks of Lexington is accused in a federal complaint of raising money from more than 1 million customers on ZeekRewards.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
WILMINGTON, NC (WWAY)-Hurricane Isaac is still pushing ashore, moving very slowly over southeastern Louisiana new New Orleans. The storm packs gusty winds, but torrential flooding rain and storm surge will be the biggest effects on the Gulf Coast. (Today marks the 7th anniversary of Hurricane Katrina’s landfall)
The center of Isaac stays far away from our viewing area, but the flow pattern around the edge of Isaac will still pull moisture into North Carolina today. An approaching cold front will tap into this moisture-rich environment and produce heavy showers/thunderstorms across southeastern NC through early Thursday. Localized flooding problems may occur, especially in areas prone to standing water. Dry air moves in Thursday afternoon!
Please keep in mind that rising water is very dangerous. Do not attempt to cross any roadway with standing water- you don’t know the condition of the road underneath.