RE: Turning over a new leaf.....

["Richard M. Smith" <rms () bsf-llc com>]

Looks like you are correct.  The WSJ use to allow folks to email articles to
anyone.  Hmm......

Richard 

-----Original Message-----
From: Alex Eckelberry [mailto:AlexE () sunbelt-software com] 
Sent: Monday, February 27, 2006 10:52 AM
To: Richard M. Smith; funsec () linuxbox org
Subject: RE: [funsec] Turning over a new leaf.....

Nope, requires paid subscriber access, even bugmenot won't work. 

-----Original Message-----
From: Richard M. Smith [mailto:rms () bsf-llc com]
Sent: Monday, February 27, 2006 10:40 AM
To: Alex Eckelberry; funsec () linuxbox org
Subject: RE: [funsec] Turning over a new leaf.....

Give this link a shot:

http://online.wsj.com/article/SB114100760832383942-email.html

Richard

 

-----Original Message-----
From: Alex Eckelberry [mailto:AlexE () sunbelt-software com]
Sent: Monday, February 27, 2006 10:14 AM
To: Richard M. Smith; funsec () linuxbox org
Subject: RE: [funsec] Turning over a new leaf.....

Hot story, but grrr, damned WSJ subscriber sign-in. 

Can't find this article re-syndicated anywhere else. 

Alex
 

-----Original Message-----
From: funsec-bounces () linuxbox org [mailto:funsec-bounces () linuxbox org]
On Behalf Of Richard M. Smith
Sent: Monday, February 27, 2006 8:53 AM
To: funsec () linuxbox org
Subject: [funsec] Turning over a new leaf.....

"A key figure in the shutdown of 12DailyPro was Barry Minkow, a former
carpet-cleaning executive who was convicted of securities fraud in the 1980s
before he turned to helping regulators and investigators detect other
frauds."

http://online.wsj.com/article/SB114100760832383942.html?mod=todays_us_mo
ney_
and_investing

SEC Alleges Internet Ponzi Scheme
By MARK MAREMONT
February 27, 2006; Page C8

The Securities and Exchange Commission filed a court action seeking to
freeze the assets of 12DailyPro, and the agency is accusing the Web site and
its operator of running an Internet Ponzi scheme that the SEC said has
raised more than $50 million from more than 300,000 investors who were
promised huge profits on their money.

The asset-freeze motion, filed late Friday in U.S. District Court in Los
Angeles, seeks to have a receiver appointed to oversee the operations of
12DailyPro and its parent, LifeClicks LLC, according to an attorney familiar
with the filing. The Internet company's operator, a Charlotte, N.C., woman
named Charis Johnson, has agreed to the proposed order, according to the
attorney. The filing wasn't available immediately through the court's
electronic documents service.

A judge has yet to rule on the proposed order but judicial approval is
considered likely.

Started last spring, 12DailyPro promised "members" that they could earn 44%
returns on their money in just 12 days simply by viewing Web advertisements.
Thousands of people from all over the world put up membership fees of as
much as $6,000 every dozen days. For a while, some got the profits promised.
But early this month, 12DailyPro essentially shut down after its primary
online-payment processor, StormPay Inc., froze the company's funds, saying
it had been alerted that 12DailyPro may have been conducting a fraud.

The SEC said the amount of investor funds voluntarily frozen by StormPay was
about $50 million, the attorney familiar with the filing said, although it
is unclear whether the full amount is still available. The SEC also is
seeking to freeze about $1.9 million of funds transferred from 12DailyPro to
bank accounts controlled by Ms. Johnson.

...

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Fun and Misc security discussion for OT posts.
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Note: funsec is a public and open mailing list.