U.S. regulators last week charged the owner of 12dailypro.com and her two companies with fraud for running a $50 million Ponzi scheme, according to a statement released on Monday.
The U.S. Securities and Exchange Commission alleged that Charis Johnson, 33, raised more than $50 million from more than 300,000 investors by convincing visitors to the Web site that they could earn a 44 percent return on their investments in 12 days by looking at Internet advertisements.
The scheme, which the SEC calls “paid auto-surf,” required users to buy $6 “units” — up to a maximum of 1,000 units — and to view advertisements from what were described as paying advertisers.
While investors were led to believe that their returns would be generated by advertising revenue, payments were made almost entirely from cash generated by other unit buyers in a classic Ponzi scheme, the SEC alleged.
Finally, idiots falling for these ponzi schemes, I know people in Malaysia have invested $10-30,000 in these stupid things, for some reason 12DailyPro seems to have been one of the most popular.
For those that don’t know what Ponzi is..
A Ponzi scheme is a fraudulent investment operation that involves paying abnormally high returns (“profits”) to investors out of the money paid in by subsequent investors, rather than from net revenues generated by any real business. In fact, a Ponzi scheme must have abnormally high short-term returns in order to entice new investors. The high returns that a Ponzi scheme advertises (and pays) require an ever-increasing flow of money from investors in order to keep the scheme going.
Like 12DP, it has no business model, the returns you get are just other peoples money that joined the scheme, eventually it will collapse and your money will disappear.
Some people would actually say the Malaysian EPF is just a giant Ponzi scheme, much like the UK and US social security systems.
The SEC also released a general warning on paid auto-surf schemes on Monday HERE.
12dailypro.com was the 352nd most highly visited site on the Internet, according to the SEC.
Gives me indeed the 346th most popular site on the Internerd..OMG how many gullible people are there online.
Please note, investing in a Ponzi scheme is also ILLEGAL.
I remember trying a couple of these get paid to surf things about 8 years ago, they were shite then too, I never got paid (Was in with Spedia and AllAdvantage).
Alladvantage was the pioneer for the whole thing. You can read more HERE.
12Daily Pro has been growing at over 10k members each day, and is now standing at over 300k members.
I think the biggest scam is the voting process. 😉
“It’s a fraud!” You tell them.
“It’s a fraud!” The media says
“It’s a fraud!” The Government advices.
But do they listen? Nooo….
I am expecting this.
Is there any success story from all these scam? NO.
A big laugh for those internet NOOBS!
I was with spedia during my college days. I received a cheque of USD34++ but was not able to cash it in the bank. But I didn’t come out a single cent for it. Not sure of why I need to anyway.
LB and BA is somewhat the same but not totally similar.
I felt sorry for those who looses money to 12DailyPro or similar ponzi scam, I never believed them.
And I’m skeptical to aggresive MLM too, some people tends to turn it into a pyramid scheme.
To all those unbelievers… I told you so!
what about StudioTraffic? Is that a scam too??
MANY YEARS AGO BEFORE I LEFT M’SIA, THERE WAS A SIMILAR SCHEME INDUCTED BY COPERATIVES SOCIETY IN KAJANG GETTING ALL THE GULLIBLE INVESTORS TO IINVEST WITH 50% RETURN. ULTIMATELY, THE WHOLE SCHEME WENT DOWN AND LAWSUITS WERE ALL OVER.
SHOWS HOW STORY REPEATS ITSELF REGARDLESS OF COMMON SENSE. I GUESS GREED AND IGNORANCE WILL FIND OPPORTUNITY FOR FRAUDSTERS!
BY THE WAY, GREAT PHOTOS OF ANGKOR WAT! BEER FOR 75c! CAN’T COMPLAIN
think i know a few guys who’re in it. not sure if they still have money there or not. good luck to those dudes.
some of them has already gotten their initial investments back tho.. u can’t have much sympathy, they know it’s a ponzi scheme when they went in
Next : Lampe Berger.
n305er: Yah, same as the Nigerian scammers, human greed and ignorance is a dangerous combination
Kenny Lee: Yah there is a success story, those scamming bastards that set up the schemes and pocket $50 million and then get a few months in a white collar prison.
eddyhan: Yah I made some money with Spedia, never got the cheque though…really wasn’t worth the time I spent on it either.
pinolobu: Just remember, if it’s too good to be true, it’s not true.
HOCKEEY: Yah man, it’s all based on reality, the original Ponzi scheme was huge for it’s time, people are just rehashing the same old thing with new twists and new figures.
KY: Yah can’t pity them in investing in an illegal scheme, if they lose out, it’s their own greed, if they cash out within the first few rounds and settle for a small profit, they will be ok. But in previous Ponzi schemes, those people had to pay everything back to the SEC, and it was dispersed amongst everyone, they got $0.37 on the dollar for their initial investment.
Kuzco: Comeone man…I don’t need to tell anyone that’s a scam, surely?!
no comment. but one thing for sure, there’s a lot of factor contributing to why 12dailypro didn’t pay its members. maybe u can make some research about it.
and this is from the founder itself: https://newclicksinfo.blogspot.com/
i have a friend who invested a few thousands us dollars in it. but he just invest it 3 to 4 months then stop it because he told me that if there are a lot of people invest it, it might be dangerous. so, he is smart.. he dare to invest a lot within a few months and stop it.
oh no, unbeleaveable … beleave