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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
Tornadoes level homes in Okla., 1 dead
May 20, 2013 04:38 GMT
Eds: APNewsNow. Updates with fatality confirmed by sheriff; With AP Photos. AP Video. By SEAN MURPHY Associated Press
SHAWNEE, Okla. (AP) -- Authorities say a tornado that severely damaged a mobile home park southeast of Oklahoma City killed a 79-year-old man whose body was found in an open area of the neighborhood.
Pottawatomie County Sheriff Mike Booth also said that six people who lived in the mobile home park were injured. Between 30 and 35 homes had significant damage, and number of frame homes in the neighborhood also sustained damage.
The storms were part of a severe weather outbreak that stretched from Texas to Minnesota. Twisters were also reported Sunday in Iowa and Kansas.
Forecasters had warned residents about impending severe weather since last Wednesday, and also caution that parts of the nation's midsection will see severe weather on Monday too.
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From the FOX 25 First Forecast Center..Tornado Watch currently in effect for central and eastern Oklahoma until 11pm tonight. Temps will drop to the mid to upper 60s for the metro. ...
Gauge of US economy's future health up in April
WASHINGTON (AP) -- A measure of the U.S. economy's future health rose in solidly in April, buoyed by a sharp rise in applications to build new homes and apartments.
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: LABOR GROUP SAYS CONDITIONS AT APPLE PLANTS IMPROVING
WASHINGTON (AP) -- A labor group Apple joined to assess working conditions at three manufacturing plants in China, where its products are made, says conditions are getting better.
ON THIN ICE?
ANCHORAGE, Alaska (AP) -- He was already on thin ice with the law when he failed to meet the conditions of his probation.