From PatrickPretty: SEC Sanctions Troy Dooly
By PatrickPretty.com 6:41 pm Sep 30, 2013
BULLETIN: (UPDATED 9:04 P.M. EDT (U.S.A.) The SEC has sanctioned MLMHelpDesk Blogger Adam “Troy” Dooly, amid allegations he accepted money from the Zeek Rewards MLM “program” operated by Rex Venture Group LLC without disclosing to Blog readers and radio listeners that Rex “was paying him” to publicize the Zeek venture.
Section 17(b) of the Securities Act “prohibits publishing, giving publicity, or circulating ‘any notice, circular, advertisement . . . or communication which, though not purporting to offer a security for sale, describes such security for a consideration received or to be received, directly or indirectly, from an issuer . . . without fully disclosing the receipt, whether past or prospective, of such consideration and the amount thereof,’” the SEC said.
Zeek has been described by the SEC in court papers (August 2012) as a $600 million Ponzi- and pyramid fraud that was selling unregistered securities as investment contracts. Dooly consented to the sanctions and an accompanying cease-and-desist order without admitting or denying wrongdoing.
“In each instance of public relations or promotion in various media outlets, Dooly failed to disclose to his readers and listeners that RVG was paying him for such publicity,” the SEC asserted in an administrative filing dated today. “Dooly believed that, pursuant to a non-disclosure agreement, RVG maintained the exclusive right to determine whether or not to disclose Dooly’s consulting agreement and the amount of compensation. Because RVG did not authorize such disclosure, Dooly declined to reveal his compensation and, in at least one instance, Dooly denied (or misled his audience about) receiving compensation from RVG (apart from reimbursement of expenses) when asked about his compensation during a public radio program.
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Fun Club USA claims “Harassment” by Troy Dooly
In Robert Craddock’s conference call on December 20th, he mentioned those who are “distractions” and how he would deal with them by filing “Police reports” and would also contact his friends in the FDLE to report anyone who he deems as a “distraction”. I am guessing to Craddock, the term “distraction” applies to anyone who has a different opinion than his own, something I believe is protected speech as detailed by the First Amendment.
Over on the PartickPretty blog, he has an editorial about the most important story of 2012 which was the mind numbing attempt by Craddock to silence one of his detractors, K.Chang. Craddock contacted the blog host, HubPages, claiming that Chang has in some manner violated a trademark and that Craddock was representing Zeek Rewards.
This was done solely to silence Mr. Chang and his efforts to expose Zeek for what it actually was, a Ponzi/Pyramid scheme. The only problem was that the parent company, Rex Ventures Group did not own that specific trademark which Craddock claimed had been violated. He did, however, get the KS Chang blog offline for a few days until they figured out the complain was completely bogus and without merit or foundation.
In Craddock’s last call, he mentioned Troy Dooly by name and the object of his disdain. He qualified Dooly as one of the “distractions” and that there were other distractions to be dealt with eventually. Craddock also mentioned a Florida statute that details harassment and cyber stalking, something repeated in a comment on Dooly’s blog by David Kettner, one of the subjects of a Motion to Compel filed by Kenneth Bell. Kettner mentions the return of Zeek Rewards under the direction of Paul Burks, which is in direct contradiction of what Craddock said about Zeek never coming back (Guess they need to talk more often).
Kettner also denied any involvement in OfferHubb but he failed to deny his involvement in BannersBroker or ProfitableSunrise. It seems many of the Zeek top leaders are in many more schemes including Catherine Parker, well-known ASD member, Zeek affiliate and in many other programs.
Months before ASD was closed, Andy Bowdoin went to the Florida Attorney General to complain about what people had said about him and the scam he was running. It turned out that his trip to the AG resulted in them opening an investigation into his dealings, along with the help of several Federal agencies. Some never learn from history and Craddock’s threats to go to law enforcement about what Dooly may or may not have said may end up in a similar manner, the opening of an investigation into Craddock and his involvement.
Let us also not forget the doctrine of Unclean Hands, “which states that a party who is asking for a judgment cannot have the help of the court if he/she has done anything unethical in relation to the subject of the lawsuit. Thus, if a defendant can show the plaintiff had “unclean hands,” the plaintiff’s complaint will be dismissed or the plaintiff will be denied judgment. Unclean hands are a common “affirmative defense” pleaded by defendants and must be proved by the defendant.” I doubt it would be very difficult to prove unclean hands in this instance.
Also extremely notable was the attempt by Craddock to trademark the word “Scam” which was summarily denied. It was another of his plans to silence and otherwise limit what anyone can say if he doesn’t like it.
This is still America, folks. We cannot allow an individual to dictate what we can or cannot say, whether or not he likes or agrees with it. My rights are the same as anyone’s rights; my opinion is as valid as anyone’s as well.