Paul Burks Indicted For Zeek Rewards Scam

Paul Burks Indicted For Zeek Rewards Scam 150 150 Rex Securities Law

October 28, 2014-Triad- Paul Burks, 67, of Lexington was indicted last week on multiple fraud counts related to the Zeek Rewards pyramid scheme, which may become the largest pyramid scheme in US history.

The scheme may have bilked $750 million worldwide. According to the US Department of Justice Burks and his cohorts enticed investors knowing that the business could not be sustained and Burks diverted over $10 million to himself.

At one point Burks and his fellow conspirators claimed that investors would be guaranteed 125% returns. Officials have described Zeek Rewards as the classic Ponzi scheme where early investors are provided with distributions funded by later investors to give the appearance of a legitimate business. Burks faces up to 65 years and fines.

Rex Securities Law provides nationwide representation to investors seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

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