Tag Archives: profitable

The FSA In The UK Issues Warning For Profitable Sunrise

profitablesunrisefaswarning

From the FSA website

It seems as if Profitable Sunrise, or “ProSun” as some call it,  has fallen into extreme disfavor among the financial agencies of Europe and is slowly making the rounds of being added to their Warnings and worse.  Several countries have disallowed ‘ProSun’ from operating within their borders, more being added almost daily.  This is not so good for the recruiting end of things and seems to be the harbinger of doom for the “opportunity”.

The simple fact that former Zeek Rewards affiliates were touting it was sufficient for me, at least, to question its legitimacy.  It’s not like former Zeek Rewards members are any good at sniffing out a scam “program/opportunity”, and continue to tout and join lots of other online enterprises that are not dissimilar to Zeek or other imploded ideas of advertising and getting paid for doing it.  It worked out so well for ASD, AVG and other programs.  Yes, that was sarcasm.

In addition to the UK warnings, The New Zealand Herald has an article about Profitable Sunrise that is not very complimentary.  The level of disgust increases with the use of Bible verses to sanitize the operation, as if it makes it legitimate.  I doubt that The Almighty likes people using His name and teachings to fill their pockets.  I seem to recall something about either serving the Lord or serving money, you cannot do both.  Maybe these folks need to re-read that part and stop emphasizing only the verses and passages that fit their purposes.

(Thanks to Patrick Pretty for the Image and the Link to the New Zealand article)

Alabama Joins In ‘Profitable Sunrise’ Warnings

 

ALABAMA SECURITIES COMMISSION
Post Office Box 304700
Montgomery, Alabama 36130-4700
Telephone: (334) 242-2984 or 1-800-222-1253 Fax: (334) 242-0240
Email: asc@asc.alabama.gov Website: www.asc.alabama.gov

INVESTOR ALERT    Alabama Investors Cautioned About Possible Fraud Tied to Foreign-based Unregistered Investment Contracts

MONTGOMERY, ALABAMA (Mar. 6, 2013)   Joseph Borg, Director of the Alabama Securities Commission (ASC) issued an investor alert to all Alabama citizens regarding possible securities fraud linked to the attempted sale of unregistered investment contracts being offered by a Birmingham, England-based company known as “Profitable Sunrise.” The company has attempted to sell the investment contracts to individuals in at least one other southeastern U.S. state thus far,  prompting authorities there to issue a Cease and Desist Order to the company’s officers.

An investigation of Roman Novak, Radoslav Novak and their company, Inter Reef, Ltd., doing business as Profitable Sunrise, revealed that the men allegedly promoted at least five different “investment plans” through a website that offered rates of return ranging from 1.6% per business day to 2.7% per business day for periods of from between 180 to 240 business days. Investors were told that their money would be used to fund short-term, “risk-free” loans to businesses, and that “all funds deposited with us are insured against loss” by a leading investment bank. Further investigation revealed that victims had been instructed to wire money to financial institutions in Eastern Europe, including one bank identified as being in the Czech Republic. ASC records revealed that neither of the men, nor the company they represent, are registered to conduct securities business in Alabama, as required by the Alabama Securities Act.

“We want to make our citizens aware of the potential perils of web-based investment marketing,” said Borg. “As with all investment opportunities, investors should thoroughly scrutinize any offer, especially if it comes from a foreign country.  “Most investment offerings, as well as the person making an investment offering, must be registered with the Alabama Securities Commission. This is a critical first step in protecting the public from con artists and investment fraud.”

Borg urged anyone in Alabama who has invested with Profitable Sunrise to contact the ASC’s Enforcement Division at 1-800-222-1253.

The ASC cautions potential investors to thoroughly scrutinize and research any investment opportunity or offer. Contact the ASC with inquiries concerning securities broker-dealers, agents, investment advisers, investment adviser representatives, financial planners, registration status of securities or debt management programs, to report suspected fraud or to obtain consumer information. The ASC provides free investor education and fraud prevention materials in print, on our website and through educational presentations upon request.

For further information contact Dan Lord, Education and Public Affairs Manager, 334-353-4858.

# # #
ALABAMA SECURITIES COMMISSION
Post Office Box 304700
Montgomery, Alabama 36130-4700
Telephone: (334) 242-2984 or 1-800-222-1253 Fax: (334) 242-0240
Email: asc@asc.alabama.gov   Website: www.asc.alabama.gov

North Carolina Secretary of State Calls Profitable Sunrise a “Real Danger “

Secretary of State Issues Cease and Desist Order to “Profitable Sunrise”

Raleigh – North Carolina Secretary of State Securities officials have issued a Temporary Order to Cease and Desist to Roman Novak, Radoslav Novak and Inter Reef LTD d/b/a Profitable Sunrise to bar them from offering and selling or attempting to sell securities in the form of investment contracts to North Carolina’s investing public.

Secretary of State investigators say the respondents promoted five different “investment plans” through a website that offered rates of return ranging from 1.6-percent per business day to 2.7-percent per business day. Investors were told their money would be used to fund short term loans to businesses. Investors were also told their investments were “risk-free,” “with a certain rate of return and no chance of default,” and that “all funds deposited with us are insured against loss.” Secretary of State investigators have also discovered that victims were making wire transfers of money to financial institutions in Eastern European countries.

However, the respondents were never registered with the North Carolina Secretary of State’s Securities Division to sell securities and the investment itself was not registered as a security in accordance with the North Carolina Securities Act.

“We have issued this Cease and Desist Order because we believe this solicitation poses a real danger to the investing public,” Secretary of State Elaine F. Marshall said Friday. “Proper registration of securities and the individuals selling securities is fundamental to protecting the public from con artists and investment fraud. That is why it is so important to call our Securities Division before investing your hard-earned money to make sure that the investment you are considering is registered. This case also demonstrates the perils of web-based investment marketing.”

Marshall urged anyone in North Carolina who has invested with Profitable Sunrise to contact the Secretary of State’s Securities Division at 1-800-688-4507.

http://www.sosnc.com
P.O. Box 29622, Raleigh, NC 27626

North Carolina Securities Division Issues Cease and Desist Order to Profitable Sunrise

It seems that Profitable Sunrise may well be heading into the sunset.  To see a copy of the temporary order, click here

On February 27, 2013, the Securities Division of the North Carolina Department of the Secretary of State issued a Temporary Order to Cease and Desist to Roman Novak, Radoslav Novak, and Inter Reef LTD d/b/a Profitable Sunrise. Roman Novak, Radoslav Novak, and Inter Reef LTD d/b/a Profitable Sunrise were ordered to cease and desist from offering for sale, soliciting offers to purchase or selling, in or from North Carolina, any securities unless and until such securities have been registered and Roman Novak, Radoslav Novak, and Inter Reef LTD d/b/a Profitable Sunrise become registered as dealers or salesmen of securities. The Temporary Order to Cease and Desist found that Roman Novak, Radoslav Novak, and Inter Reef LTD d/b/a Profitable Sunrise offered investment contracts in the form of investment plans, made available through their website http://www.profitablesunrise.com, in violation of the North Carolina Securities Act. The Temporary Order to Cease and Desist gives Respondents 30 days in which to request a hearing. If no such request is made during that time, the Temporary Order to Cease and Desist shall become final. To read the Temporary Order, click here.

I am guessing that the SEC may also file something regarding Profitable Sunrise in the near future.

MLM Watchdog – A list of Ponzi, Pyramid, Gifting and other Scams

The most recent addition to Rod Cook’s MLM Watchdog site is a scathing offering regarding Banners Broker  and several other scams for which that former Zeek promoters are recruiting.  These include Profitable Sunrise, Wealth Creation Alliance (WCA),  and a few others that Zeek people have thrown around.  While it doesn’t mention Offer Hubb,  I would lump that into the group.  What is amusing to me is that all of these scams are being promoted by the Zeek top level sponsors trying to make up their losses.  Nice people, those sponsors!

Also listed there is a link to an article on “Finch Sells”, a blog about affiliate marketing.  (Here’s the article link) The article labels Banners Broker as a Scam and gives the reasons why, not that we needed any explanation.

I have added the MLM Watchdog site to the list of Links.

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