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Ponzi Sceme Bust
RALEIGH, N.C. (AP) -- Federal securities regulators have filed fraud charges and an emergency order to freeze the assets of a North Carolina company officials say operated a $600 million Ponzi scheme that is on the verge of collapse.
The action by the Securities and Exchange Commission Friday is intended to help investors recoup money and avoid devastating losses.
Online marketer Paul Burks of Lexington, N.C., is accused of raising money from more than 1 million customers through ZeekRewards.com, a website in operation less than 2 years.
ZeekRewards customers were offered ways to earn money through the site, including buying unregistered investment contracts that promised a share the company's profits through rewards points that could be traded for cash payouts.
Burks could not be reached for comment Friday and the website has been taken down.
Posted: Friday, August 17 2012, 11:27 PM CDT
IN OKLAHOMA NEWS
Judge orders Okla. pastor to trial on murder count
May 25, 2013 19:32 GMT
OKLAHOMA CITY (AP) -- A judge says the pastor of an Oklahoma City church must stand trial in the shooting death of his son-in-law.
Fifty-three-year old Michael Elder is charged in the death of 27-year-old Gary Davidson last February. Davidson was married to Elder's daughter.
The Oklahoman reports (http://bit.ly/16Wg62Z ) that Judge Ray C. Elliott on Friday ordered Elder to stand trial after Davidson's wife and girlfriend each told different stories. April Davidson said she feared for her life while fighting with Davidson in the front seat of a pickup truck. Judith Chism said Davidson was trying to exit the truck from a rear seat when he was shot.
Defense lawyers have argued Davidson fired the gun in self-defense.
Elder is senior pastor at The Cross Baptist Church. He was being held without bail.
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From the FOX 25 First Forecast Center..The holiday weekend is here...Expect variable clouds with scattered showers and t'storms for your Saturday. ...
US durable goods orders rise 3.3 percent in April
WASHINGTON (AP) -- U.S. orders for long-lasting manufactured goods rebounded in April, buoyed by more demand for military and civilian aircraft and an increase in business investment.
BC-US--Dow Record-Three Personal Stories, 1st Ld-Writethru,1173
Dow Record: Three tales of ups, downs and changes
AP Photo FX102, FX103
Eds: With BC-US--Dow Record. Adds photos.
By SCOTT MAYEROWITZ
AP Business Writer
NEW YORK (AP) -- When the Dow first crossed 14,000, investors were overjoyed. ...
IN THE NEWS: RESTAURANT FLAP LEADS TO INTERNET MELTDOWN
SCOTTSDALE, Ariz. (AP) -- It isn't exactly to curry favor with your restaurant customers -- even if your specialty isn't curry.