SEC files charges against Zeek CEO, Paul R. Burks.

Category ASD Updates


Zeek, the SEC alleged, “is teetering on collapse.”

Zeek CEO Paul R. Burks has been charged with selling unregistered securities as investment contracts, the SEC said. Burks presided over Rex Venture Group LLC, Zeek’s purported parent company. Rex Venture also has been charged. The SEC said it was aided in the probe by the Quebec Autorite des Marches Financiers and the Ontario Securities Commission.

Burks’ program holds “approximately $225 million in investor funds in approximately 15 foreign and domestic financial institutions, and those funds are at risk of imminent dissipation and depletion,” the SEC charged, noting that the Ponzi potentially could affect more than 1 million people globally.

Zeek operator Burks, meanwhile, “has withdrawn approximately $11 million while operating Rex Venture and ZeekRewards, of which approximately $4 million remains in his possession, custody or control.

Burks “distributed approximately $1 million of the funds garnered from ZeekRewards to family members,” the SEC said.

I will keep an eye on PACER to see when the case shows up and post information on it.

2 comments on “SEC files charges against Zeek CEO, Paul R. Burks.

    1. H,

      No matter how one tries to sanitize things, Zeek has been under a watchful eye for a very long time. Just like ASD/Ad Cash Generator ran by Andy Bowdoin, they hide behind ponzi phrases and semantics.

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