Site Set For Victims Of Alleged $600M Ponzi Scam

The lawyer appointed by a federal judge to administer the seized assets of the online auction site ZeekRewards.com has set up a Web page to communicate with victims of the alleged scam.

The Securities and Exchange Commission announced Friday that all assets of the auction site's parent company, Rex Venture Group of Lexington, N.C., had been frozen as part of what officials alleged was a $600 million Ponzi scheme.

Court-appointed receiver Kenneth Bell has asked those who invested in ZeekRewards to go to www.zeekrewardsreceivership.com for more information, or contact him by e-mail at info(at)ZeekRewardsReceivership.com

Officials estimate ZeekRewards was taking in about $5 million a day from investors all over the world. Bell is working to seize about $225 million in assets he said are believed held in foreign and domestic financial institutions.

(Copyright 2012 by The Associated Press. All Rights Reserved.)


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