PonziScams.com Schemes & Due Diligence

CEP being placed in voluntary bankruptcy does 2 things.

First thing it allows the Creditors(Those that are not in profit but at a monetary Loss) to stake a claim against what is in the CEP coffers.

Second thing once the coffers are emptied the Receiver will then start calling upon The Debtors of CEP(Those that are in Profit).

Spell this out so I know what you are saying!!!
Simple If you are at a Loss you can file a claim with the Receiver to get some or all of your Funds back (Usually a percentage of what you put in is what you will get).
If you are in profit you can, and most likely, be sued as a Debtor to CEP (CEP gave you funds in excess of your investment. Thus you OWE the excess funds, therefore a debtor)

How Do I determine my Claim?

Your Losses are very simple to figure. Take the amount of Funds invested minus any funds returned to you. Let’s say you invested $1000 and got $500 back your Loss will be $500. You will not be paid any interest!

Now If you Paid in $1000 and you received back $2000, you owe the Trust $1000. You can and most likely will be called upon for that amount of excess of your investment.

Investor Lawsuits Filed, Discovery Hearing

I have filed 33 lawsuits in the Bankruptcy Court (two more to go) in this first round of recovery suits against investors. We are pursuing all distributions to these defendants. I am not attaching the complaints here due to volume, although I understand that some have probably been picked up off the docket and are being circulated about the forums. This group includes Caroline, Bart and Heidi Strittmatter, Israel Lagares, Daniel May, Gary Schrier, Marcus Petrelli, Regina & Gary Johnson, Dustin Fennell, Thomas Hall, Maurice Usenbor, Max Gonzalez, Troy Winters, Pamela Anderson, Curtis Greek, E-Business (Alwine), Hobson Black, Wilfried Owatoye, Patricia Bruno, William Nugent, Skye Karls, Shad Foss, Wilmer Michael Wrenn, Bill Holcombe, Andrew Hockenbrock, Jevard Hitch, Brenda Bumgardner, Jace Wingard, Greg Collier, Jim Pratt, Denise Higgins, Howard C. Phillips, and Gareth Lodge. This group received distributions in excess of $2.5 million with over $2.0 million of that amount appearing to be in excess of their investment.

There is a hearing scheduled for Tuesday morning, August 28, 2007 at 10:00 am to hear motions I’ve put forth to the Judge to expedite the discovery process related to these and other cases pending or to be filed. [See Documents CEP #0032 and #0020]. “Discovery” is essentially the process by which both sides of the litigation endeavor to find out the facts. This includes responses by both plaintiff and defendant to specific questions called interrogatories, the physical production of electronic and hardcopy documents or records, and questioning of parties under oath.

It appears that the ride for CEP and it’s subsideraries is over. The SEC filed a complaint seeking emergency relief in the United States District Court for the Eastern District of North Carolina against CEP Holdings, Inc. d/b/a www.colonendparenthesis.net (CEP), Colon End Parenthesis Trust, LLC (CEP Trust), and its owners and operators, Trevor Reed (Reed) and Clayton Kimbrell (Kimbrell). This is no surprise to me or others blogging about this today.
See DrunksWorld & NOBS

What does surprise me is people still put money into the unlicensed money transmitters and the associated schemes! Come on guys GROW UP get out of the GREED MODE!

Just because an Admin CLAIMS he has it covered, well guess what most likely he doesn’t!

Furthermore If an Admin tells you “not to invest if you don’t believe him or Trust him“…then DON’T, most likely IT IS A SCAM!!!!

Refunds may take LONG TIME!!!!

If your TSMC account name is Mouse, then you have a long
wait because they are processing the accounts in the order
of the TSMC account names (’A’ through ‘Z’ order).

The last I heard (last week) was that they were working on
accounts that started with the letter ‘C’. Hopefully they
are further along by now.

One more thing. Bob can only pay out so much in Refunds
each month, according to how much profits his investments
earn.

So this is going to take quite a while to finish. I’m hoping
that Bob is re-investing part of his profits each month
because that will have the overall effect of speeding up
the Refund Process.

“According to a letter that was attached to my refund check, they’re calculating refunds according to deposits made through the following: AP, authorize.net, check, money order, e-gold, e-bullion, and virtual money. That sum was then subtracted from any monies already received on your end from: AP, check, wire transfer, e-bullion, virtual money and e-gold.

I hope this answers your question.” This was from Krimm’s forum.

My question is this, if you were paid out from a surf to TSMC is that money just Gone? Adsmania paid people out to TSMC while accepting funds from other locations. DailyROI same way….I hope this isn’t the case, but at the moment it does look that way!

The following is the Email conversation Between Gerry Simoni and Leon V about Quest2surf:

From: Gerry Simoni [mailto:gsimoni@adelphia.net]
Sent: 04 January 2007 12:56 AM
To: Leon VR
Subject: !!!!!!!!!!!!!!!!!!

Leon,

You need remove any file that is associated with Terry Read the rest of this entry »

Here are a series of emails between Gerry Simoni and Todd Heaps (This is a LONG Post!!!):

—– Original Message —–
From: Gerry Simoni
To: Todd Heaps ; Jake Amadee
Sent: Monday, January 15, 2007 8:42 PM
Subject: Important……..

Hi Guys, Read the rest of this entry »

Below is an email sent on Jan. 3, 2007 from Mr. Krimm to his members about Quest2surf.

Dear Members,

I am fully aware of a site out there called Quest2surf.com Read the rest of this entry »

Here is a series of emails showing Krimm did know about Simoni’s daughters account:

—– Original Message —–
From: Gerry Simoni
To: Bob Krimm ; admin@15hitsdaily.com
Sent: Friday, February 09, 2007 6:47 PM
Subject: Over Paid???

Hi Bob,

My daughter showed me her account today and I believe you over paid her. Today Read the rest of this entry »

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