AdSurfDaily documents Subpoenaed
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Dave Hodges, writing at Tallahassee.com about AdSurfDaily, claims
"Quincy-based AdSurfDaily Inc. has until Tuesday to respond to a subpoena from the U.S. Attorney's Office requesting more documents in a grand jury proceeding that may involve a violation of the government's wire-fraud statute, a criminal offense.
The subpoena, issued by Assistant U.S. Attorney Vasu Muthyala in Washington, D.C., orders the Internet-advertising company to produce records of its incorporation and formation, lists of employees and all documents concerning the purchase of advertising packages by members, including the amount of funds the company received and the rebates it paid out.
Also demanded are all records, including audio and video recordings of the company's rallies, meetings, conventions and conference calls."
I could not find any evidence of this on the docket record, not any production order, either.
On the other hand, Clarence Busby is asking the Court to release the funds that were seized in the Golden Panda Ad account.
In a sworn affidavit, Clarence Busby states:
"Neither Ad Surf Daily ("ASD") nor any of its officers, directors, or shareholders is an officer, director, or shareholder in Golden Panda.
None has ever exercised any influence or control over the company's operations.
Neither ASD nor Bowdoin ever opened, placed funds into, or controlled any Golden Panda bank accounts or any of Golden Panda's officers, directors, or shareholders' bank accounts ."
He further claims,
"I have no knowledge of how ASD allocates its funds or operates its business beyond the rudimentary and had no knowledge that Andy Bowdoin had prior run-ins with the law or had been accused of wire fraud until I read the complaint served upon me."
And this is the person that was going to "run ASD's China operation?"
What was this business plan?
"Advertisers join free and receive 50 ad views to show their business in the Golden Panda rotator. They are also allowed to surf (look at ads on the rotator) up to 72 sites each day. For each ad they look at in the rotator they are given additional credit views that they can use to show there business ad.
Customers use this opportunity to test the effectiveness of their advertising before purchasing ad packages.
Golden Panda profits from the sale of advertising. For every advertising dollar spent with the company, we retain 50 cents as payment for the ad (our profit) and place the other 50 cents in our "cash out" fund, which is a separate account exclusively for pay-outs.
The cash out fund is paid out to all advertisers who examine 12 ads that we randomly select every single day for a period of at least 15 seconds for each ad.
Those who perform that function, and thus ad value by giving assured views to ads, are rewarded by receiving daily a pro rata share of the ad sales proceeds that we contribute to the "cash out" fund for that day (i.e., the 50% of ad sales revenues that we place in the fund).
Those who do not are not entitled to any pro rata share."
How on earth do you ad value by viewing a company's ad that you have no intention of purchasing goods from?!
This is exactly the line that 12Daily Pro tried to run - this is a simple money laundering scheme.
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Comments
Thanks for this, Rod.
Posted by: michael webster
|
September 19, 2008 8:20 PM
More on ASD scam waiting on grand jury which will bring criminal charges
http://www.mlmwatchdog.com/internet_pyramid_ponzi_crooks.html
Posted by: Rod Cook | September 17, 2008 3:53 AM