International Law

Auto Surf Living Dead

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Interesting revival of the AdSurf Daily scheme.

"Do you still remember about Asdcashgenerator and Ad Surf Daily, also known as ASD had closed immediately after the company had been raided and the assets been seized by the Secret Service Agents in early of August.

The General Attorney had filed a lawsuit accusing the company and its owner Andy Bowdoin Jr, as of operating a huge pyramid scheme. According to the lawsuit, the pyramid scheme promoted by ASD is a violation of Section 849.091, Florida Statutes, and a per se violation of the Florida Deceptive and Unfair Trade Practices Act found in Part II of Chapter 501, Florida Statutes.

They also believe this business was a "Ponzi scheme that he masked as an advertising company which located at 13 South Calhoun Street in Quincy.

We found that there is a new program which said to be a clone of ASD which known as Adgateworld.com. This program is still in a pre launch. According to one of the hyip bloggers, this new program is running by some big players in former ASD.

He also stated that Ad Gate World is operating in Panama, so the Securities Exchange Commission of United States could not do much to shut the program.

As written on the Ad Gate World, this program promises to pay a return of 125% for members who upgrade and view daily advertisements. Members also have an opportunity to advertise their own business too.

In our opinion, as ASD had collapsed, so will Ad Gate World. Maybe those players who had been the victim and lost money in former ASD want to re gain their lost by running another pyramid scheme and trick other players."

Full post as published by Misleading Advertising Law on October 28, 2008 (boomark / email).