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First PPD Gets SEC'd, Then it Gets FTC'd. It Seems to be a Bad Year for Ponzi Schemes.
When I first came out with the PPD research (which I released for
free as a public service, may I add), many were doubtful as the market
was literally manipulated upward. I feel by blog's patrons were
confusing the alleged "Ponzi scheme's" fundamental viability over time (and
ability to avoid regulatory discipline) with the overall movement of
the market and beta. As you can see below, things are not going well for this
company. If one had faith in the research and rolled puts and protected
shorts over, one should start seeing some decent gains. If I am right
and this market is simply in a bubblicious bear market rally, any
aggressive action by the SEC will drive this beta driven stock into the
ground, making what you see today and last month look like an actual
rally. Hey, it couldn't have happened to a better company.
Prepaid Legal press release:
Pre-Paid Legal Services Announces FTC Developments
ADA,
Okla., Nov. 19 /PRNewswire-FirstCall/ -- Pre-Paid Legal Services, Inc.
announced that on November 18, 2009, we received a proposed draft
complaint from the Federal Trade Commission ("FTC") seeking permanent injunctive relief (there goes that revenue stream), disgorgement of proceeds (that will hurt, a lot)
and other relief, including costs, relating to our Identity Theft
Shield and Affirmative Defense Response System ("ADRS") Program. The
proposed draft complaint alleges our ADRS program and related
materials violate Section 5(a) of the FTC Act regarding asserted
misleading representations, express or implied. The proposed draft complaint
also names Harland Stonecipher, our Chief Executive Officer, and Mark
Brown, our Chief Marketing Officer, as defendants (That is
something. The officers of the company are named personally, as well as
the entity itself). We previously received a Civil Investigative Demand
from the FTC on March 23, 2007 on the ADRS program. We have made
voluntary revisions to the marketing materials originally provided to
the FTC in 2007 and 2009. The FTC may decide to commence federal court
proceedings with this proposed draft complaint. The ultimate outcome of
the matter is not determinable but we will vigorously defend our
interests in this matter.
Let's see what comes of this. If the SEC hits them, I would consider this a penny stock.
Previous opinions, and more than a few "I told 'ya so"'s' on the Flim Flam Scam:
- Flim, Flam, Scam: Would a PPD Ponzi and Pyramid scheme cause your wealth to Scram? Wednesday, 18 March 2009
- Reggie Middleton's Continued Public Service Announcement on the Flim Flam Scam Friday, 03 April 2009
- A Demonstration of How PPD Management is Destroying the Company Tuesday, 07 April 2009
- Additional Commentary on PPD Tuesday, 07 April 2009
- The Flim Flam Scam gets SEC'd - I'm not going to say I told you so, again! Tuesday, 06 October 2009
- advertisements -
Reggie-
Another nice call! Let's hope ACC, my short of the year (for another month & change), meets the same fate.
Keep up the good work.
Holla
Thanks Reggie, Glad to see your stuff on ZH.
Old news. What's the new PPD?
this sucker has been a scam for years. i haven't been able to get a borrow on this POS for years though
This guy also exposes fraudulent companies.
http://www.citronresearch.com/
I just finished listening to the 1994 tape version of The Creature from Jekyll Island or "How the big boys invented the legal global Ponzi scheme". Its amazing how prophetic it is . It explains everything going on today in the financial system to a T. Its basically the bible for the plutocracy, you know, its god’s work outline.
When you have an hour to sit in a quiet place put it on and listen will full attention. I wish I had remembered it last summer . I would have seen that I forgot the blueprint but they didnt, all a part of their cyclical plan.
http://video.google.com/videoplay?docid=6507136891691870450#docid=-84849...
Pass It on.
A bad year for ponzi schemes. How many more to go?
It gets really interesting when you find out his blog was called the BoomBust and Bling Blog.
Just so we are on the same page:
http://www.urbandictionary.com/define.php?term=bling
I do however enjoy this chart as should everyone.
http://boombustblog.com/images/stories/blog/performance/blog_chart_with_...
Speaking of Ponzi scheme's, one should really look into the Boombustblog.com.
I really like how this supposed investment sage requires that people pay for a subscription to find out his qualifications and experience.
http://boombustblog.com/Member-Pages/Reggie-Middleton/Reggie-Middleton-s...
That gives me a really legit feelin' about listening to your advice.
I like to call it incubation time.
Counting SS, Medicare, the Fed? Don't need many more.