- Associated Press - Saturday, June 20, 2015

WINSTON-SALEM, N.C. (AP) - The receiver for a defunct company that authorities say was an $850 million Ponzi scheme says most victims will get another check in early August.

Kenneth Bell told the Winston-Salem Journal (https://bit.ly/1TDK0iZ) says the average recipient should be at or near the 60 percent reimbursement mark of verified losses from ZeekRewards after they receive the check.

ZeekRewards and the online penny auction site Zeekler.com operated in Lexington. The U.S. Securities and Exchange Commission shut down the company in 2012.

Prosecutors have said Paul Burks and conspirators promised massive profits to lure more than 1 million investors, including nearly 50,000 in North Carolina.

Burks pleaded not guilty last year to federal charges of wire and mail fraud, conspiracy and tax fraud. His trial date is set for May 2016.


Information from: Winston-Salem Journal, https://www.journalnow.com

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