May 25, 2013 13:54

Troy Dooly Live On The Tom Chanault Radio Show Talking About The Shut Down Of Zeek Rewards

Aug 19 2012 in Paul Burks, Zeek Rewards News, Zeekler, ZeekRewards by Troy Dooly

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Troy Dooly is recognized internationally as an influencer in the areas of personal branding, leadership development, marketing campaigns, organizational expansion, and corporate launch strategies. Dooly is a speaker, results coach, and radio host. He is a founding member, show host (Beachside CEO) and News Director of the Home Business Radio Network. He is a founding member, and currently serves on the Board of the Association of Network Marketing Professionals

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44 Comments »

  • gen3benz1

    "So, when I look at Zeek, I do not see anything out of the norm, based on my direct selling aka network marketing experience.
    And understand I have had all of my field success with service based companies, mostly in the top tier where federal and state regulation is high"
    1. Why did you not see anything out of the norm, when so many critics did?

    "I addressed the Howey test a while back, and I do not feel Zeek would flunk it at all."
    2.RVG failed the howey test badly, has your mind changed on this yet?

    "I do believe that the company is running a legit business.
    This does not mean that there are not issues that need to be addressed or that a regulatory agency could not decide unique bid auctions or one of the companies are not operating correctly."
    3. RVG is not a legit business, have you changed your mind on this yet?

    "On your second question, why do you feel affiliates are not real customers? Affiliates are real customers, if they are buying bids and using them for personal consumption."
    4. The SEC would disagree, do you still feel this way?

    "So, when I look at Zeek, I do not see anything out of the norm, based on my direct selling aka network marketing experience.
    And understand I have had all of my field success with service based companies, mostly in the top tier where federal and state regulation is high."
    5.RVG was operating well outside the norm, do you believe that now that the SEC shut them down?

    "Why do you feel I have no honor or integrity?
    I run a blog community, write under my own name, stand by what I write,
    and gladly accept the fact that you have the right to call me anything you desire, and to tell the world your personal opinion.
    I also gladly correct info when I get it wrong and tell folks loudly "I am sorry" when I get something wrong. Exactly, where is the lack of honor and integrity?
    6. Have you said " I am sorry" to everyone for cheerleading RVG for so long now that is has been proven a ponzi/pyramid?

    • http://MLMHelPDesk.com Troy Dooly

      @gen3benz1,

      If you want to come across as a pro, then you need to put the ink to the specific editorial or video. I don't the sound bite, take my words out of context and throw them back at me, very well. So feel free to quote me, but do it professionally.

      So without knowing where you are pulling the quote to see what came before and after it, I'll try and answer.

      1. Have no idea where in the timeline this quote came from. But based on my network marketing experience, not Ponzi experience the company was (up until the SEC asked Greg Caldwell to close the doors,) moving towards changing the one area of the compensation plan, we all questioned the RPP. I made the suggestions to be used to make those changes, and the company had made it public they would go into effect this coming Red Carpet Day. Instead the feds decided to shut it down before those were implemented.

      2. No, my mind has not changed on the Howey Test. I still believe the company was running a legit business, as does the feds. However, I also agree with the feds, and have since day one and we have all talked about it. The RPP needed to be filled with true customer revenues outside of the compensation structure, or eliminated. But the underlying business of penny auctions are legal.

      3. Seems like the same question as two. I still believe RVG was running a legit penny auction business with a compensation plan that was flawed. I also believe as I have stated publicly, all penny auctions in the "MLM" space should not be classified direct sales, but direct marketing, because they are manufacturing, private labeling or selling anything they make. There could be an argument, that if the penny auction house is warehousing and shipping products purchased through the auctions, that they are a direct selling. But most are not doing this.

      I also stand by the fact, if affiliates were buying bids and using them personally in the auctions, then those purchases would be classified retail volume. However, based on what affiliates stated and the SEC is alleging that did not happen.

      4. Why do you feel the SEC would disagree?

      5. RVG was not operating well outside the norm. The RPP was outside the norm, and that is what both insiders and critics were the most concerned about. I was very clear I did not know those numbers, but based on the low amount of auctions compared to QuiBids, that there is a pretty good chance the RPP was heavy with internal volume, and that I have introduced to RVG the DubLi business model. It was accepted and was going to be launched in August.

      I believe there was a deal cut with the SEC, and we may never know all the truth, until an insider is willing to speak. I do know that based on figures I have been told the SEC numbers are way low in volume and in cash available. And in reading through current comments, it also seems the SEC did not freeze all the accounts, because affiliates are stating they are already receiving chargeback dollars in their credit cards.

      You will find that, I always question the government when a deal is cut in private and it circumvents the due process of a public trial. I don't like in in criminal or civil cases. And I especially hate it where affiliates are concerned.

      It is not fair to the affiliates to not know what really happened, and if with the right changes, Zeek Rewards like so many other companies in network marketing could have slowed the growth, and increased the customer revenues, had the qualifiers been put in place and the shopping mall launched.

      6. I have not said I am sorry for reporting on Zeek Rewards, BidiFy, Bids That Give or any other Penny Auction or the whole network marketing profession. I have live on the radio apologized to Randy Schroeder for warning his team. But I stand behind my past coverage and will continue to cover this story as well as the other penny auctions.

      I have on one radio show and will on another today, make it clear folks should not be slamming the majority of the affiliates, because like me and millions of others inside the network marketing community, we believed the company started off on the wrong foot, was quick to hire competent counsel to get it well inside of all compliance issues (review Dec 2011 editorial), and was moving in the right direction. Slowly it seemed to due some pretty nasty business situations like external fraud, causing processors to shut off and hold funds in reserves, to banking issues. But as I was assured by executives and consultants alike that things were moving forward. Like the rest of the world, the move by the SEC took me be surprise.

      By the way NO ONE has proved RVG was running a Ponzi/Pyramid. And without all the evidence being presented in a court of law, it may never be proven.

      • Glim_Dropper

        Please Troy, you can do better than this.

        ".,..I still believe the company was running a legit business, as does the feds.,.."

        Is the SEC a Federal Agency? How legit do you think the SEC found Zeek? Is it possible that you haven't even read the SEC's complaint? You comments about not knowing the numbers might imply you have yet to read it. May I be of help by posting the link:
        http://www.sec.gov/litigation/complaints/2012/com…

        From which I quote:

        ".,.. Approximately 98% of ZeekRewards’ total revenues, and correspondingly the purported share of “net profits” paid to current investors, are comprised of funds received from new investors..,."

        So in the SEC's opinion at least the auction site, shopping daisy and FSC combined to comprise 2% of ZR's total revenue. Please let that sink in.

        The complaint goes on to destroy more of ZR's lies as well. The "up to 50%" issue for example:

        ".,.. 45. In fact, the dividend bears no relation to the company’s net profits. Instead, Burks unilaterally and arbitrarily determines the daily dividend rate so that it averages approximately 1.5% per day, giving investors the false impression that the business is profitable..,."

        It is true that the SEC's civil complaint will never have it's day in court. Paul settled without a fight. But in his consent agreement it clearly states that he received no immunity from eventual criminal prosecution for having done so. Zeek will have it's day in (criminal) court.

        ".,.. Like the rest of the world, the move by the SEC took me be surprise..,."

        Ahem.

        • http://MLMHelPDesk.com Troy Dooly

          @Glim-Dropper,

          I sent you an email with some questions so I can better understand some things. If you did not get it let me know.

          As for the above statements I made, it pertains to the penny auctions, not the marketing arm. But as you know when I am talking with folks who are not really wanting to engage in intelligent conversation I do tend to take them down rabbit trails. :)

          As for the numbers I have read them, and based on some conversations with insiders, the amount of income over the last 30 days is low, and from reading comments here on the blog it seems some affiliates are charging back their credit cards and have received their funds back. If that is the case, then it would seem that assets may also be off, because not all accounts were frozen.

          Since the receiver was just appointed Friday, and the deal was cut days before. I will guess that the numbers the SEC used were provided by Burks defense team and not through the SEC's personal due diligence.

          I am very pissed about this, not because of the heat I am taking but because of all the unanswered questions. (Some which I have already sent you and others I was waiting to share until I hear back from you. )

          Here is where my overall anger is coming from.

          The SEC filed a complaint, their opinion, and yes I know it agrees with yours, and I am cool with that. BUT… Based on the deal cut, there seems that due process may not happen where a public trail will take place to show the real numbers, the real facts.

          It is my understanding in 2011 the company had a net profit which was filed on their tax return and comes from audited financials. The audited financials I beleive were requested by the banks they are now doing business with.

          Is this normal for ponzi programs to 1. file income taxes on time or close to it (not sure on that) or at all, 2. have audited financials, 3. fine the mastermind $4 million dollars, and state the other $7 million is gone and can't be recover? (how can anyone who never leaves home spend $7 million of items of no fair market value? (Heck that would be a lot of hookers, booze, gambling. popcorn of whatever. )

          Now to the issues you addressed.
          (
          1. Have I not agreed from day one that the RPP is the issue, and if the revenues did not get up to an acceptable limit (and we already know based on Burn Lounge that 3% is not enough) there would be an issue?

          2. Did I not make it public, I have shared with them the DubLi Model, of the shopping/cashback mall, and adding the qualifiers? This would have slowed growth massively, and produced real retail customer volume?

          3. I had not read the consent agreement until this morning. However, let me point out the SEC does not have the authority to cut deals on the criminal side. So the reality is, we do not know of a deal has also been cut at the NC DOJ level and the US DOJ level. The law firm he used for this, are criminal attorneys, not business (mlm attorney), and what about all the rest of the original crew?

          4. And yes the SEC's move took me by surprise. I have made it clear months ago, I expected the CID before the election, and did not expect the feds to move until after the election, and then I expected it to be on the whole penny auction nitch, not just one company specific.

          Now, here is the other issue you might be able to help with. In most cases, like ASD, the criminal side came first, there was enough evidence to prove Andy was guilty. And in criminal you have to prove guilt beyond a reasonable doubt. On the civil side you don't have to prove much, and in this case it seems everyone is working together.

          Since I have not covered anything like this before, can you shed some light by answers these questions and the ones I sent you.

          Living An Epic Adventure,

          Troy

          • Glim_Dropper

            Troy, I got a notice from your new content system that you replied to my post but I’m afraid I didn’t get your e-mail. I assume the system let’s you see my address, could you please resend to the same name but @inbox.com instead? I am happy to speak with you sir.

            The over all revinue numbers are one thing, it’s the percentages that are more informative. I was having a hard time wrapping my head around the SEC’s 98% number (quoted in my previous post) until I read further and this blew me away (from the SEC complaint linked above):

            “.,… Of approximately 10 billion VIP Bids purchased by or awarded to investors, less than one-quarter of one percent have been actually used in auctions on the Zeekler penny auction website. Thus, the VIP Bids do little or nothing to actually promote the retail business…,.”

            This is impossible to reconcile with any definition of a legitimate buisness. Dawn was fond of burger analogies so let’s say McDonalds sold ten billion burgers but only one quarter of one percent of them were eaten you would have to ask yourself why did people buy them. In ZR’s case the answer is simple, people bought bids because ZR paid them to do so and 98% of the money used to pay the established bid purchasers came from new bid purchases and purchasers.

            And again, don’t worry, Paul and Zeek will have their day in court. Count on it. Don’t count on it going well for them but they’ve had some of the best MLM attorneys on staff for quite some time so it will soon be time for those guys to earn their pay.

            One question Troy, if you can answer it. When did you first learn of the CID? One thing I’d worry about if I were a ZR affiliate and one with personal contact with Zeek leadership is what my bid repurchase ratio was in the period of time between July 6th and when the buisness officially closed.

            July 6th is when the CID was filed and if anyone with a point balance and knoledge of the CID adjusted their repurchase ratio downward, start looking for an attorney. Paul is no longer in a position to argue that VIP points are not an unregistered security and insider trading laws do apply. Times like this I’m glad to say it’s probably too late to erase those e-mails.

            Quick point on the ASD case, the “civil side” did in fact come first. Andy fought the forfeiture tooth and nail and dragged that out as long as he possibly could. Because he knew the criminal trail wouldn’t start until after that was finished. I will give Mr. Burks credit for not doing likewise, it hopefully will ensure that eventual refunds will happen much quicker for Zeek Reward’s victims.

            I am looking forward to hearing from you troy and I’ll do whatever I can to find the answers to any questions you have. I might have a few of my own for you as well.

          • http://MLMHelPDesk.com Troy Dooly

            @Glim-Dropper,

            I have resent the email I think two both emails.

            I have been going through both the complaint and consent to help give a solid review for folks. I may have more questions, but I will be very respectful of your time.

            I learned of the CID when I was notified by email from the NC DOJ, on or about the same day I reported it here on the blog. Although in the email I quoted, the DOJ, did not use the term CID at the time. Since I am not, nor have I ever been an affiliate, the latter doesn't concern me, but it does make logical sense, that if any insider told top leaders of the situation… guess that would be seen kind of like the Enron case.

            Not sure about Paul. He really has been out of the office and dealing with his wife's brain injury. Although I am sure would have ad VPN access to things.

            I do remember that DD had been absent since right before the last Red Carpet Day, due to health issues, and he has been at Paul's side far longer than even Dawn. I am not sure if anyone has heard from him either. But, since it seems most of the marketing team did have top positions, if they made changes or told other founding or top leaders to pull the points down, then justice must be served.

          • FreedomReport

            HERE’S A CONTINUED
            BREAKDOWN BY EACH PARAGRAPH & ACCUSATION

            ==============================
            POINTS 9 THRU 11 OUT OF 11 POINTS
            ==============================

            POINT 9:
            REGARDING THE WORD ==> IF

            IF ==> IS NOT A FACT ==> IT’S AN ASSUMPTION AND/OR A SPECULATION!

            IF customers continue to increasingly elect to receive cash payouts rather than reinvesting (ONCE AGAIN ==> WE WERE NOT INVESTORS)

            WHAT WE ALL WERE DOING WAS ==> RE-PURCHASING SAMPLE BIDS

            ==> TO GIVE AWAY TO ==> POTENTIAL PENNY AUCTION CUSTOMERS!

            THERE IS A BIG DIFFERENCE BETWEEN BUYING SAMPLE BIDS TO GIVE AWAY FOR FREE AND WHAT THE SEC FALSELY ASSUMES AND SPECULATES!

            FACT:
            IF (IF IS A VERY BIG & OPEN WORD)

            CASE-IN-POINT
            IF AN ASTROID HITS AND DESTROYS THE EARTH TOMORROW!
            DOES THAT MEAN IT’S GOING TO DEFINITELY HAPPEN?
            NOPE ==> NOT AT ALL!
            ==> IT’S TOTAL SPECULATION!!!

            POINT 10:
            Burks has agreed to settle the SEC’s charges against him without admitting or denying the allegations, and agreed to cooperate with a court-appointed receiver.

            QUESTION
            What Happened To Our Rights as An American Citizen”
            Did Paul Burks Admit To Anything? NO HE DID NOT!!!

            So According To Our Legal Rights as a United States Citizen…
            Paul Burks and Rex Venture Group Are Innocent ==> Until Proven Guilty
            And NOT What The Alleged (IF) Charges are Against Him!

            POINT 11:
            According to the SEC’s complaint, ZeekRewards has paid out nearly $375 million to investors (WE WERE NOT INVESTORS) to date and holds approximately $225 million in investor funds in 15 foreign and domestic financial institutions.

            Those funds will be frozen under the emergency asset freeze granted by the court at the SEC’s request. Meanwhile, Burks has personally siphoned several million dollars of investors’ funds (WE WERE NOT INVESTORS) while operating Rex Venture and ZeekRewards, and he distributed at least $1 million to family members.

            FACT:
            If a person who owns a company outright – that is NOT registered with the SEC BECAUSE it has NOT or NEVER DID OFFER any form of an investment opportunity or contract or security SINCE IT IS NOT A PUBLICALLY TRADED COMPANY ==> BUT A PRIVATE OWNED COMPANY BY ONE PERSON & ENTITY.

            PLEASE TELL ME WHERE IS IT ILLEGAL TO TAKE OUT (NOT SIPHONED) AND PAY YOURSELF AND/OR YOUR FAMILY WHATEVER AMOUNT OF MONEY YOU WISH.

            THIS WAS A PRIVATELY HELD COMPANY AND NOT A PUBLICALLY TRADED
            COMPANY!!!

            FACT:
            THERE’S A BIG DIFFERENCE BETWEEN THEM BOTH! TRUE OR FASLE?

            IN MY PROFESSIONAL OPINION I HONESTLY BELEIVE… THEY PROBABLY SCARED THE CRAP OUT OF PAUL AS SHOW BY THIS STATEMENT BELOW:

            “Burks has agreed to relinquish his interest in the company and its assets plus pay a $4 million penalty.”

            Additionally, the court has appointed a receiver to collect, marshal, manage and distribute remaining assets for return to harmed investors.

            (STOP SAYING INVESTORS ==> WE WERE NOT INVESTORS)

            As You Can Clearly See Now:
            The SEC and the NC DOJ Accusations Are Once Again 100% Wrong As Well As All Their Claims Against Paul Burks Good Name…His Rex Venture Group… Are Totally Bogus and False!!

            Documentation Beats Conversation,

            Freedom Quest Report
            Sr Diamond Affiliate
            with Zeek Rewards and Proud of It!!!

      • FreedomReport

        HERE’S A CONTINUED
        BREAKDOWN BY EACH PARAGRAPH & ACCUSATION

        =========================
        POINTS 6 THRU 8 – OUT OF 11 POINTS
        =========================

        POINT 6:
        All Companies Use the Power of The Internet…

        So Does The SEC by Spreading Their Propaganda and False Accusations.

        Plus All Online Companies, Home Base Business, Network Marketing…

        ANY COMPANY DOING BUSINESS TODAY….

        All Claimed To Have “The Next Big Thing”

        And We Did Until Big Brother Stepped In With Their False Uneducated Accusations!

        In reality, their cash was just going to the earlier investor.”

        THIS IS TOTAL SPECULATION ON THE SEC’s PART…

        FACT 3
        OUR CASH WAS GOING TO PURCHASING & RE-PURCHASE SAMPLE BIDS AND NOT WHAT THEY CLAIM and DEFINITELY ==> NOT INVESTMENTS!

        LET ME REPEAT AGAIN SOME FACTS…
        “THIS WAS NEVER an INVESTMENT of Any Kind, Shape or Form”

        WE ALL SIGNED AN AFFIDAVIT STATING SO WHEN WE ALL JOINED AND SENT IN OUR MONEY FOR SAMPLE BIDS!!!

        POINT 7:
        The SEC’s complaint alleges (NOT PROVEN) that the scheme (alleged scheme – not proven) is teetering on collapse (alleged teetering on collapse – not proven) with investors (WE WERE NOT INVESTORS) funds at risk of dissipation without its emergency enforcement action.

        FACT:
        ONCE AGAIN ==> THIS ENTIRE THING IS TOTAL SPECULATION!

        How many other companies around the United States are “Teetering on Collapse?”

        So does this mean that the SEC & THIS ADMINISTRATION will have to step in, close them down because of a theory or a speculation?

        IS THIS AN ELECTION YEAR ISSUE AND ACTION? MAKES ME WONDER!!

        Would they do this even if the company in question, like Rex Venture Group…

        “Did Not Offer Any Form of a Security or An Investment Contract?”

        POINT 8:
        Last month, ZeekRewards brought in approximately $162 million while total investors (WE WERE NOT INVESTORS) cash payouts were approximately $160 million. If the investors (WE WERE NOT INVESTORS) cashed all of their reward points instead of using proceeds to reach higher levels of rewards points,

        ZeekRewards’ cash outflows would eventually exceed its total revenue.

        FACT:
        LET ME ASK YOU A SIMPLE QUESTION:

        If Rex Venture Group Takes in $162 Million and Cashed Out $160 Million…

        Can a Company Like Rex Venture Group Survive On…

        A Net of $2 Million a Month ==> In Order To Run It’s Business?

        There are Hundres of Big Businesses and Other Companies…

        Doing The Same Darn Thing on a Whole Lot Less Than $2 Million a Month!!!

        Is This Administration Going To Shut Them Down???

        Stay Tune to Points 9 thru 11

  • jcb1014

    Hey Troy,

    As a bummed out Zeek affiliate I am still trying to wrap my hands around all of this. So many unanswered questions and theories out on the internet, I really need to stop reading…lol. Here are some questions I have that I hope you can shed some light on if possible:

    1. By Paul Burkes relinquishing his interest in the company and settling, does that mean Zeek has no chance of reopening or having the ability to prove that the system was not a Ponzi?

    2. Did the SEC actually shut Zeek down or did Zeek do it voluntarily? I keep reading both cases so its confusing.

    3. Would Zeek be allowed to reopen if they follow necessary changes provided by the SEC?

    4. Do you think Greg Caldwell knew this was coming and was being one step ahead of the game in closing the doors and preparing all the necessary documents to prove that Zeek was not a Ponzi and that they were implementing new steps to be further compliant?

    5. How in the world did the Feds obtain all the account numbers ($375 mil out, $225 mil funded) so quickly? Did they have an insider working at Zeek possibly or have they been investigating Zeek for months and tracking there activity with banks?

    6. Based on what you know at this point, what is your gut feeling in regards to the life/death of ZeekRewards? Is it completely done or do they have a fighting chance to recover?

    Thanks Troy. Appreciate your honest feedback during these troubling times.

    • http://MLMHelPDesk.com Troy Dooly

      @Jcb1014,

      Let me see if I can answer any of these questions.

      1. I would guess Zeek would not reopen. However, until we see if anyone else is going to be charged civilly or criminally we do not know. Lets say Dawn is charged Monday, and she decides to fight it (by the way unlike Paul, her attorney is not likely to cut any deal. He and his firm are known for fighting and winning), then she can push this issue to a trial and make the SEC prove its case.

      If that happens, I do not think Zeek will reopen, but it will slow down the process of refunds. And it might open a larger issue where the affiliates could also become part of the case.

      2. It is my understanding that the SEC asked Greg Caldwell, to terminate the employees, except for himself, the CFO and the Lead Compliance Investigator Ken Kelby, and to change the locks. It is kinda of funny. Oz reported the FBI locked the office. The reality is it was Greg Caldwell wearing his Florida Association of Private Investigators (FAPI)shirt with the badge on it.

      3. This is a great question. I would say not, because Paul gave up control and they turned it over to a receiver. If the receiver is smart, after doing everything, he would put the database up for auction. THere are plenty of network marketing companies (penny auctions) who would love the chance to bid on it.

      4. Nope!!! Greg is the best troubleshooter in the business. He was all for the changes and like me had been pushing for the changes needed to make sure the company corrected the RPP issues. Greg is well respected with regulators and they know he will not cover up any fraud, but will also fight for clients to show how their weaknesses can be fixed. At least when the clients are talking to him and listening.

      5. I do not think they have everything. At least not based on comments today here on the blog. However, since Burks hired criminal attorneys, I would guess the attorneys called Greg, and told him to get them specific information and they handled it over to the feds. The investigation started months ago, with just some simple inquiries in and around the network marketing community. It was not new news that the SEC was investigating penny auctions, Banner Brokers, Co2 Rewards, Royalty7, and many more. But there was not evidence or suggestion to any of the corporate MLM attorneys that a move was being made on the auctions or any other company.

      I know the team (outside of Burks) did not know about this last weekend, they were in Nashville finishing the planning for the convention. Greg and I talked over the weekend, and he felt good that the NC AG investigation was going good, and we were planning on dinner at Red Carpet Day.

      6. Zeek is dead!

  • gen3benz1

    The quotes are all from comments on this site. I have never watched a video of yours.
    Im not a pro as you are not a pro at spotting a ponzi.
    Listen to Oz more next time and open your eyes and calculator
    Paul Burks signed a settlement and his criminal charges will come later.
    He is a fraud and will be taken down for this

    • http://MLMHelPDesk.com Troy Dooly

      @gen3Benz1,

      Ok, then when you pull a comment, show the thread it is coming from. The editorial link is always to the right hot linked.

      What you do not seem to understand, is that this is far from over, and Paul may never be charged with a criminal offence. The SEC doesn't have the authority to cut a deal on the criminal side, only the US DOJ. But since the attorneys Burks is using are criminal attorneys, and have already it seems have thrown the rest of the crew under the bus, since they were not listed in this first complaint, there is a good probability a deal is in the works with the US DOJ as well as the NC DOJ.

      I don't know ponzi, but I do know about deals, I wrote bail on some pretty nasty white collar criminals in the past.

      I like to know the facts, not have crap hidden, so none of us will ever know for sure.

      Time will tell.

      Living An Epic Adventure,

      Troy

      Oz knows his stuff, but with him folks tend to be guilty until proven innocent, I live in the USA, we are innocent until proven guilty… or a deal is cut.

  • mattmc419

    Hey Troy,

    Could you make a comment on your current feelings about Dawn – what she knew, and how she’s handling this?

    She posted this on her facebook shortly after the SEC charges were announced:

    “Getting Suzi Rebecca Wright ready for college (boy oh boy am I going to miss her face). Hustling & bustling getting ready for the wedding. Praying til my knees are sore for the people I love. Signing off FB for a spell so please don’t expect replies or posts…just know I’m here and that as always I am with you. Namaste.”

    Now, her facebook account has been deleted.

    To me, it shows a complete lack of care and respect to not only be focusing on other personal matters at this time, but to announce it to the world while leaving the main issue out completely. If her wedding is what is on her mind right now, then it’s clear that she knew what was going on from the beginning.

    There were also claims made by someone that she had pretty much stopped promoting Zeek and had already moved on to an electronic cigarette MLM, knowing that a collapse was coming soon.

    • http://MLMHelPDesk.com Troy Dooly

      @Mattmc419,

      Well since she was in Nashville last week with the team working on the final plans for the convention, I would say she was completely in the dark on the SEC deal, as Caldwell and others. It seems that was kept completely out of the picture until Wed or Thur.

      I would say that if it is true she did not know, that would be like a punch in the gut. Especially if the deal doesn't include anyone else on the team.

      I have not visited her FB site, so I do not know about that. I do know Suzi was off to school, and Her and Alex were getting married next month.

      As for the cigarette deal. That is not MLM, it is a franchise/affiliate deal. That was before Zeek, she smokes them and has sold them for a while both online and in a route throughout Arkansas.

      As for anything else, that I would not know.

      • mattmc419

        Thanks Troy.

        This just keeps getting weirder and weirder.

        Someone else just messaged me saying that Dawn was on her LinkedIn account (Facebook one is still deleted) and says she is in Nepal.

        Then someone else posted this link:
        http://www.reddit.com/r/IAmA/comments/yhagt/iama_…

        Even as a Zeek supporter before last week, the post seems real to me. Check it out.

        All pretty crazy stuff. Have a different view of Dawn than I did when I last heard her speak on the "Company Introduction" call.

        • http://MLMHelPDesk.com Troy Dooly

          @mattmc419,

          Well the story has been removed, but I was also sent a copy of it. I can tell you in reading over part of it, that several parts were total lies. What folks do not understand is that if (and there is no evidence) that Secret Service is involved, or if the SEC has already gathered enough evidence on any of the top 200 original ZR affiliates to show any form of RICO, that they are scanning all internet activity for anything to do with ZR and RVG and if anything is put up that is known to be a fraud and will damage those who they class as victims, theose folks may look at additional criminal charges.

          Since Dawn has hired one fantastic fighting attorney, known for winning his cases, we may still get to see all the facts. Now let me ask you any everyone else… Based on all the public conversations and statements you have heard Dawn make… Does she sound like the kind of person to create a ponzi? Don;t get me wrong, great gal, but if anyone has met her they know she doesn't do well under pressure.

          • mattmc419

            Hey Troy,

            Based on how friendly and upbeat Dawn came across as on conference calls, my answer would be no – of course she didn't seem like someone who would create a ponzi. Many people I talked to that had been to Red Carpet events spoke highly of her as well.

            It's hard to completely dismiss information that has come forth the last few days though.

          • http://MLMHelPDesk.com Troy Dooly

            @mATTMC419,

            Upbeat is one thing. But how many times did Zeek Rewards News have to put out explanations for what she meant to say. From what I have read and been through over the years… Mastermind Cons don;t make the kind of mistakes we have seen at RVG and accumulate $600 million dollars.

            And I fully understand where you are coming from, and I will not discount anything, but I do want far more facts. Just not sure how soon we will get them.

          • mattmc419

            Part 2 (System said my comment in one piece was too long):

            Just to recap Dawn's recent activity (you tell me if it's suspicious):

            1) The same day, right after Zeek was charged by the SEC, Dawn posted on her facebook saying she was focusing on getting her kid to college and then on her wedding. No mention of Zeek. Facebook account deleted hours later.

            2) Allegedly updated her LinkedIn account to say she's in Nepal. (don't have LinkedIn so can't verify that one)

            3) Has now been called out by 2 different people who had inside access – a 'tech consultant' and the high ranking affiliate – who claim she knew the program would crash from the beginning, and openly stated this to other top people and some employees/affiliates.

          • mattmc419

            Part 3:

            4) In my opinion, the most damning of the charges is that Paul made up the RPP percentages each day, and didn't base it off revenue at all. Therefore, even if qualifiers and more customer revenue was generated, it was completely doomed because he was paying out 13X more through the RPP than he had assets to back up (per the official numbers).

            5) From 4, this means Paul knew the profit share wasn't being run legitmately, and the high daily rewards were simply a fraud to pull in more money. Paul and Dawn both have acknowledged on calls that they were very very very close to each other, making it hard to believe Dawn didn't know what was going on. It was also said that Dan was involved in the finances and making payments, so surely he knew about (but didn't call out) the discrepancies as well.

          • mattmc419

            Part 4: (any way we can make this system allow more characters? lol)

            Though I didn't have a ton of money in the program, or a big downline, I was a huge supporter of Zeek and was very hopeful for its future. However, based on the SECs numbers and claims of fraud and misinformation purposely presented by management, it is now hard to feel that govenment officials have made a mistake.

            Again, making up the RPP percentages as a way to fake the company's revenue is fraud.

            By the way, I appreciate your reporting on the issues, as I do with Oz (just recently saw his blog). This was my first experience in MLM, but hopefully with the reporting you guys do another opportunity can be found.

  • FreedomReport

    Dear SEC and NC DOJ,

    I am writing on behalf of We NON Investors (but Affiliates) with The Rex Venture Group and ZeekRewards.

    I understand you have a job to do, but to close down a multi-million dollar business while you throw out false accusations is going above and beyond.

    This company has, is and will continue to contribute (if you let them) huge legal dollars to the economy of our local communities, states and our fabulous nation.

    By your false claims and slander, and by you taking action the way you did with false information/speculation,
    You have just put hundreds of thousands of people out of work.

    I guess many now will have to live off our government, adding to our national debt…

    Many will be requesting financial aid – increasing the government food stamps subsidies and all!

    How does that make you feel? Much Better?

    The money we were making, working with Rex Venture Group and the ZeekRewards program was paying for housing, mortgages, food, transportation and a multitude of goods and services that helped stimulate our local economies.

    That’s Right!

    This was providing a “Huge Stimulus for Our Economy” locally, statewide, nationally, as well as, providing income and hope for thousands of families around the world!

    Now According To Your SEC Claims http://www.sec.gov/news/press/2012/2012-160.htm

    And The North Carolina Department of Justice http://www.ncdoj.gov/News-and-Alerts/Alerts/Infor…

    You have put thousands of citizens and country men and women out of work…

    Do you realize that you are hurting so many people during the biggest downslide this country has seen since the last “Great Depression?”

    Please do everyone, including your community, your state and your country a service by allowing Rex Venture Group and ZeekRewards to resume “business as usual” while you do your civil investigation.

    With Great Concern For Me and My Fellow Affiliates Futures…

    And….

    “WE THE PEOPLE”

    Freedom Quest Report
    Former Sr Diamond Affiliate
    with Zeek Rewards and Proud of It!!!

  • Curious_One

    In regards to clawbacks, will every member who made a profit be obligated to return ever profit penny? Are they offered the ability to pay in lets say monthly installments? I'm sure a lot of the zeek members who made profit including myself.. albeit a small profit and embarrassed to admit….would be interested in any insight or examples you have on clawbacks.

    Thanks

    • http://MLMHelPDesk.com Troy Dooly

      @Curious_One,

      I just flat do not know. Hopefully one of the Anti-Ponzi advocates can answer this for all of us.

  • mayavi555

    I have few questions since zeek is dead.

    1) How do we get our refund? Who do we approach? or where do we claim?
    2) What can we claim?
    2) How long will it take to get a refund?

    • http://MLMHelPDesk.com Troy Dooly

      @matavi555,

      Sometime in the near future, should be this week, the Zeek Rewards and Zeekler websites will give that information. And will start providing information as the Receiver and SEC publish it.

  • hopeful

    Nice plant on the call today, from that Vitel guy Jeff Trills. After the first 3 words were out of his mouth, I knew instantly it was the same guy trying to recruit zeek affiliates into Vitel with this 'free 30 day offer'
    Is he a downline of your son per chance? That call was ridiculous and I find it ridiculous that you guys let it on.

    • http://MLMHelPDesk.com Troy Dooly

      Hopeful,

      I do not know the guy, nor do I control Tom's show. Tom screens his callers, and the show originates out of New York.

      Ad for being in my son's organization, I do not have a clue. My son did not offer the ViTel deal. That was worked at the very top of both companies from my understanding.

  • BestFriends5

    Troy – thank you VERY MUCH for being the calm and stable sounding board for SOOOO many people right now regarding Zeek.

    I, for one, am very confused about this whole thing.

    Didn’t every page on their website, in each printout, document, training video, compliance video, message, email, zeekrewards update, banking info, etc, etc, etc, etc, etc CLEARLY state that this was NOT an investment?!!!

    How can some government agency come and take away a business like this, affect MILLIONS of people in such vast ways without any due diligence, process, explanation, or give time for Paul Burks et al to make the necessary changes as they seem to have requested?

    Didn’t Zeek have the best legal, financial and corporate counsel, as promoted on their site and to affiliates?!!

    Where were all they?

    Didn’t we all hear the management and executive team on calls, the legal counsel etc on calls, etc all talk about the growth, the changes, the upgrades, the process implementations on their way?

    When will Zeek speak up?

    I understand that it’s probably wise to gather oneself first in light of the explosiveness of all this and the horrendous and slanderous/libelous comments, articles, reporting etc out there, but do you think they will address their loyal clients?

    We believe in Paul Burks and his team! I heard them many times on the calls. They are real people with great hearts! I can’t believe that they were monsters, planning, scheming and cunningly strategizing against all of us!

    Unless they’re so savvy and have such finesse at being sociopaths, I find it very, very, very difficult to believe they have hubris so deep and dark that they have deceived so many.

    If there is anyway in letting them know that there are many people who believe in them, that we want them to fight to come back, and work with all the necessary authorities necessary to rebuild this to be the leading company that it was on its way to being, please let them know this. There is a whole contingency of us who are cheering for him and his management and executive team.

    Nothing great comes easily. Nothing great can be accomplished without a fight. We stand with them! We want them to come back, stronger, better, and wiser! Before there can be a resurrection, there needs to be a death. Maybe the old does need to die. We can learn from this. Then, come back! The phoenix rises!

    Troy, I’m not some “woo-woo” spiritualist out here in la-la land. I’m also not naive, stupid, born yesterday, nor am I a fool. I, like hundreds of thousands of loyal Zeek affiliates, are educated, skilled, mature, traveled, experienced and accomplished citizens and community members.

    Sometimes, in the face of the ugliest giant of all, we need to be a simple voice of encouragement, of strength, of belief, of friendship. In the face of this ugly giant, Zeek can be the David, and with 1 small stone, can take this terror down!

    We are praying for wisdom, Godly counsel, courage and boldness for Zeek to do the right thing – to pay its debts, to make things right, to fix its problems and to come back, better, stronger, wiser and a force for hope that we all need and support him in.

    Please share this with Paul and his team. There are more for him than there are against him. Intimidation by voice, media, and even the poisonous pen cannot defeat the strength of heart and loyalty of the committed few. Margaret Mead once said (and I paraphrase): Never doubt that a small group of committed individuals can change the world…indeed it only ever has.

    Please encourage Paul and his team. We are cheering for them all.

    Thank you again for all you do, Troy!

    Gratefully,

    A friend who believes…

    • http://MLMHelPDesk.com Troy Dooly

      @Bestfriends5,

      Let me see if I can help shed some light on things.

      1. Zeek did not start with any compliance in place and that was exacerbated with ad copy that was so close to that of a ponzi which had just been shut down that it drew the attention of advocates against ponzis as well as advocates for network marketing.

      They soon hired some of the best folks in MLM. However many of the suggested changes were never made mandatory until after the NC AG issued the CID. This might have very well played a part in this issue.

      Even if a company has promoted that something isn't an investment, if the SEC decides to file a complaint to protect a specific class of people, then it is up to the defendant in this case Rex Venture Group, LLC and Paul Burks (at least for now) would have to defend their position and give their attorneys the go ahead to defend the advice provided. In this case based on the information I have been given and uncovered, Paul Burks, kept this situation secret from even his closest and longest friends and family members who worked with him.

      Until Paul decides to make a public statement, we will not know why he made this choice. Paul hired outside criminal counsel to cut the deal he made. He did not give his corporate legal team the go ahead from what I have learned.

      2. I for one having met the folks in Lexington and seeing how they ran the company, do not believe they could orchestrated any form of ponzi. However, with that said, I do think they could have been guided into creating what started out as a ponzi. And knowing that the RPP is the backbone of the complaint and the issues we have all most talked about, I am still not sure why the comp plan expert hired in January did not focus on cleaning it up. Especially since this had been the main focus of contention for everyone.

      3. I assume the Zeek staff is reading and watching this blog and many others. They will feel both the love and hate over the next weeks and months. But until they are allowed to talk or decide to talk whichever the case may be, all of us are in the same boat. Some of the critics inside and outside of network marketing will be waving their colors praising the fall of Zeek. While others of us, will be wondering about some of the facts presented in the complaint and trying to figure our more of the details.

      Hopefully before to long, either more facts will be presented, or someone will be charged in civil or criminal court who will fight so the facts can come out. I have reached out to some of the anti-ponzi advocates to get more information on why the deal would be cut and to understand the strategy.

      4. you and thousands of others come from very educated backgrounds, doctors, attorneys, judges, CPAs, preachers etc. I do not think all of you or me for that matter can be deceived, although there are plenty of folks who will disagree. I talked to retired judges, DOJ investigators, attorneys, and CPAs all along the way, and the only issue (a big one) is the fact that folks could not present the RPP without it sounding like an investment vehicle, and it was full of affiliate bid purchases. One huge issue, that had many solutions, but for whatever reason, from what was claimed in the SEC complaint or something we do not know, Paul decided to pull the plug and cut a deal. It is all just strange.

      5. Like you I pray before I write to seek wisdom. Lord know I still mess it up, but I can sleep at night knowing I am doing my best to find the right answers and to provide some logical reasoning.

      Only time will tell if we get all the facts or not.

      Living AN Epic Adventure,

      Troy

  • mayavi555

    I have few questions since zeek is dead.

    1) Where do we request for a refund since SEC has fund frozen?
    2) how much can we claim? Initial bid purchase amount or more than that?
    3) How long will it take to see our money?

    • http://MLMHelPDesk.com Troy Dooly

      @Mayavi555,

      In the next few days all the information will show up on the Zeek websites. And I will continue to cover the story

  • http://MLMHelPDesk.com Troy Dooly

    @Roofersteve,

    Thank you sir!

  • kooltrop

    Troy. Im curious where the 4 million dollar fine Burks payed goes. If it just goes to the government, then to me it looks like they just wanted to get alittle piece of the pie too. Nobody should ever to be able to buy their way out of something and the government should not be able to benefit of it.

    • http://MLMHelPDesk.com Troy Dooly

      @Kooltrop,

      The money will go to pay the victims.

  • KHeaslett57

    Part 1

    I agree with an interesting comment i saw regarding the past week with Zeek….
    I am going to post it below… i did not write it…
    but i agree with most of what is said… it was posted originally on facebook…
    by the way,… Dawn Wright Olivares has deleted her facebook account….
    she is still on twitter and myspace…. and linkden

    here is the post you need to read!

    Greetings Former Zeekters,

    Please step back and look at the “Big Picture”. By most comments I see that many are brainwashed and believe what the government wants you to think. Zeeks was a Rock Solid company! It just was not along the lines of the government’s way of only limiting high profits and success to a very small percentage. Remember this as you keep reading… The government wants struggling robot workers, not successful leaders!

    Zeeks was one of the most amazing business model ever introduced. If you look at the growth, profits, cash on hand, and financial responsibilities it all makes absolute sense. The company was profiting 2 million a month, all going back in, and we were only just getting started! What? That doesn’t happen in the corporate world. Greed doesn’t allow it, Corporate Greed doesn’t allow such Fast and Widespread growth. Zeeks was going to be the most successful company in the world within a few years, and millions of people were going to be part of it!!! Millions and millions of people would have been successful, debt free and self sufficient. Well sadly that is not how it works in this world my friends.

    Let me break down the BIG PICTURE for everyone… ‘They, the government’ was in fear of this business model because ‘They’ were losing control. Zeeks had grown at an unprecedented rate and already had over One million affiliates in less than two years. Then on top of that we were doubling every two months with a real potential of approximately 15 million within the next year. The government felt pressure because too many people were going to be successful too fast. Overall there would be less interest in government controlled financial institutions. There would have been less interest in the Stock Market/Banking/Etc. With the potential of Zeek’s growth even more people would have been transferring their money out of profit limiting government controlled situations into a successful business model! Zeeksters would have also been starting up even more other small businesses and that is not what ‘They’ want.

  • KHeaslett57

    Part 2

    Think about this, If you and I, the little fish (the masses), are successful in something like Zeeks, we would not risk our money in an unpredictable stock market or banking investments. We would also be debt free, having the ability to pay cash for almost everything and not need to depend on ‘Credit’ so much either. We would also be able to shop locally more, and at more expensive smaller establishments because we would all have more money to spend.

    Now this is tolerable on a small scale but when it goes viral (multi-millions) and the 3%’ers (Big Business/Corporate Giants/Media Advertising/Etc) start losing control they will put a stop to it anyway they can.

    The main fact is that ‘They’, the CIA, Secret Service… Ultimately, The New World Order wants us all to struggle, be in debt and DEPEND on them!

    Now in these times, because of new technology and brilliant minds who think outside the box the little guy has a chance to compete with those 3%’ers and THEY ARE SCARED!!! And when they get scared of losing power they use that power to shut it down and hold us back.

    Also let me ask you all these questions, if Zeeks was such a scam and Paul Burke was such a crook don’t you think he would have taken more than a 2% profit from a so called $600 million Ponzi Scheme? Don’t you think he would have “siphoned” more than just one million dollars to his family members?

    Don’t you think the top people in the company would have off shore accounts setup with enough money for the rest of they’re lives, ready to run and hide because they can’t show their faces to anyone? What about Dawn Wright Olivares, yes she was making the most of any affiliate but do you think she made enough money for the rest of her life? Do you really think this woman can even go out in public? Do you really think any of the Zeeks management have lives anymore? They have been made to look like criminals by our corrupt controlling “New World Order” via the CIA via the Secret Service via the Securities and Exchange Commission (SEC) via the Attorney General (AG)!

    Then there is You and I, we are all made to look like fools to prove a point. To knock down our big dreams, to cage us like animals and to scare the general public out of thinking we can all be financially secure, living better lives and even make it big someday!

    Listen here is the bottom line, anything can be made to look like a Pyramid or Ponzi Scheme and that is what ‘T’hey did. When will everyone realize that the whole world is a pyramid… no matter what, it all trickles UP! Whoever starts or runs something will earn more and be a little more successful then those at the bottom, that is common sense. Mr Burke has been made to look like a scammer because he was thinking outside the greedy corporate American box.

    He was changing too many lives for the better with his ingenious business ideas. So what it came down to was that Mr Burke was given an ultimatum to give up any chance of a fight and walk away with hefty fines or be labeled and ‘made to look like’, Bernie Madoff and other real crooks when in fact Mr Burke did nothing wrong. And at 65 yrs old what would you do? I don’t care how solid the company was and how many top attorneys you hire, when it comes to battling the government, they will twist things around to look like however they want, to win the power struggle and sustain control over the general public. They will forever continue to “Save Us from Ourselves”.

    Overall, this stinks to high heaven with government conspiracy to keep us all in the palm of their hand begging for a crumb! On top of it all, at the end of the day, THEY do win because now the majority are SCARED (of MLM and Self Employment) and will continue to struggle and slave away at their corporate government controlled JOB!

    To my fellow Entrepreneurs… Do Not let this hold you back.
    Say it with me…

    I WILL FOREVER BE AN ENTREPRENEUR AND WILL ALWAYS FIGHT FOR MY PIECE OF THE PIE!

    WE NEED MORE LOVE AND UNITY, AND I WILL NEVER STOP DREAMING FOR BETTER DAYS TO COME FOR ALL OF HUMANITY!!!
    God Bless :)

  • Dawn

    Troy,

    From your previous videos and comments it appears you have some associations with current and former zeek management. Many of us have been extremely frustrated at the lack of communication from zeek. I’m just curious, have you heard first hand that they will provide more info this week? I hope this is true as it would be so nice to feel like we are all in the loop, so to speak!

    Thanks for all you do!

    Dawn

    • http://MLMHelPDesk.com Troy Dooly

      @Dawn,

      Join the club sith the lack of communication!!!

      However, when situations like this take place, those who do hire attorneys usually talk to much, and those with attorneys do not talk until the complaints against them become public.

      Also if there is a Grand Jury meeting to determine criminal charges, then this could take a while.

  • mikeo275

    We have only ourselves to blame. We were all so wrapped up in the possibility of easy money, that we failed to really analyze the business model. Check out the below scenario.

    There were supposedly 1,000,000 affiliates. Let’s just say for a moment, that only 300,000 were actively receiving a check each week. Let’s also say that each person was receiving ONLY $1000 per week. ( we know the # and average was much higher) So that is $300 million dollars per week being paid out. Assuming that was a 20/80 reinvest, that means the total retail pool earnings each week would have been $1.5 billion ( which was supposedly half of the profits earned each day, so total profit would have been $3 billion/week). Now, assuming profits were coming from Zeekler and the penny auctions, and assuming that the average sales price on Zeekler was say $100, ( and it was probably less than that), They would be making approx. $10,000/item sold. $3.0 billion dollars in profit would equate to 300,000 items being sold weekly just to earn the retail profit points for the 300,000 people who were drawing checks. ( doesn’t count the retail profit points for the other 700,000 people.) So when you factor in the other 700,000, they would have had to have been making in excess of $7-$10 billion weekly and selling nearly a million items weekly. ( this would be second only to Amazon in the number of items sold, and would be more money made in one year than Exxon Mobile made in it’s best 20 years combined) . This also assumes very low pay-outs, and we already know that many were taking payouts much much higher, which means the daily retail points was probably exponentially higher. So you see, his scheme probably worked fine early on before the #of affiliates grew so large and the amount of money required to satisfy the 1 ½% return grew into such an enormous amount. But once the numbers became so large, there was no feasable way for the model to work. Even the growing number of affiliates could not keep pace with the profit required to support the return rate. The SEC reports finding $225 million, a mere drop in the bucket compared to the billions of dollars it would have required to make the weekly payouts and grow the retail profit pool.( so where is the rest of the money?) Obviously the retail profit pool was a complete fabrication. Yes there are some folks who made out like a bandit early on, but anyone who singed up after April ’12, will be getting royally screwed.

    Shame on me for being blinded by speculation and not really breaking it down for what it was, before buying in. Great lesson to be learned here!

    • http://MLMHelPDesk.com Troy Dooly

      @Mikeo275,

      Just a couple of quick clarifications.

      1. The SEC complaint made it clear that if all qualified went to full payout, then it would take $45 million per day based on the average of 1.5%. At the time of the filing, they have not personally reviewed the actual math used to run the RPP. And again he SEC has to look at worse case. The probability of a worse case is very small but could happen.

      2. Also remember, that the numbers provided to the SEC were from Burks attorneys, not from the Receiver. Once the receiver starts working with the CFO and COO, I have a feeling more cash (maybe hundreds of millions more) will be uncovered.

      Still does not change the fact we need answers, but until all the facts are presented, I still believe, this was gross mismanagement, not a masterminded ponzi. And either way, folks are not suffering and in some cases for years to come.

  • MHamburger

    Hey Troy,

    Where can I find the recording of yesterday's Tom Chenault show featuring you as the guest? I appreciate all you continue to do.

    Semper Fi,

    Michael Hamburger
    My recent post Michael Hamburger’s Real Estate Worldwide Top Gun Team featured cover story again

  • Dawn

    This question is for Troy or anyone out there familiar with these types of settlements. What will happen to all the undeposited cashiers checks? A close friend of mine has two out there that were credited in bids to his daughter’s accounts, but haven’t cleared through his bank yet. The bank said they will be void in 90 days from the issuance date. Do they send them back or deposit them as part of the frozen assets? Any info would be appreciated!

    Thanks!

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