last seen 1 hour 19 min agoOK so I wanted to touch base on some of these paid autosurfing websites - you know the "get rich quick". I dunno seams like alot of ppl that I know are now getting suckered into to these. So with that said what are they? Can you really get rich just surfing the web or is this just another scam out there? The current hot auto-surfing site that is recruiting and holding lectures around the country is asdcashgenerator.com so are they a scam?
“Auto-surfing” is a form of online advertising that purportedly generates advertising revenue for companies that want to increase traffic to their websites. The premise behind auto-surfing is that companies that advertise on the Internet are willing to pay to increase traffic to their web sites. These companies hire an auto-surf firm or “host,” which in turn pays individual web surfers to view certain websites on an automatically rotating basis. The more sites the individual visits, the more money he or she stands to earn.
While auto-surfing may sound easy and appealing — and risk-free — there can be a hitch. Some auto-surf programs require their surfers to pay to participate, although perhaps not initially. When you first sign up to auto-surf, the firm might assign a limited number of sites for you to visit and pay you accordingly. Once you’ve made a modest amount of money, the firm might encourage — or even require — you to purchase a “membership” so that you can maximize your earnings. The program will promise high — often double or triple digit — returns on your investment in the program, often within days or weeks of joining.
Have you ever heard the statement "If it sounds to good to be true then it probably is" well most of these autosurfing sites scream "ponzi" (pyramide scheme). When you have to PAY TO PARTICIPATE so that you can make fast money something is wrong. According to the US Securities & Exchange Commission these companies simply get to big and fold. You can not "rob Peter to pay Paul" with out it crashing at some point. Not to mention some of these companies are under serious investigation by the Goverment for fraud and were shut down for doing the same thing that "ASD Cash Generator" seams to be doing. Please see the links below to see.
So why am I writing this? Well I do know of one current company that seams to be sucking in alot of ppl now days: asdcashgenerator.com Is ASD Cash Generator a scam? I dunno but from what I have seen, read and researched YES it is another "ponzi" just like the ones prior to them that were shut down and under investigation currently for fraud. Many companies that were very simular to this that were shut down and ppl ended up loosing lots of money. Please see the update below reguarding ASD cash generator and Golden Panda Ad Builder
Basically do your homework first PRIOR to ever investing in anything like this. If your gut tells you its too good to be true then it probably is. So with that let me point you to some reading if you are thinking about investing in these "ponzi" autosurfing programs that you have to pay to get into. Please note that NONE of these links are just unhappy members but they are ALL links to the US Securities & Exchange Commission who have been watching and yes charging them with fraud and taking legal action.
“Auto-Surfing”: What You Need to Know by US Securities & Exchange Commission
SEC Halts “Paid Autosurf” Internet Ponzi Scheme that Raised Over $50 Million from 300,000 Investors Worldwide by US Securities & Exchange Commission
SEC Charges Operators of Phoenixsurf.com Web Site With Conducting a Massive Internet Ponzi Scheme by US Securities & Exchange Commission
SECURITIES AND EXCHANGE COMMISSION v. CHARIS JOHNSON, LIFECLICKS, LLC, and 12DAILY PRO, Civil Action No. CV 06-01018 NM (PLAx) (C.D. Cal.) by US Securities & Exchange Commission
Now if you have fallen pray to one of these "ponzi" sites you can file a complaint with the US Securities & Exchange Commission at enforcement@sec.gov
Disclaimer: This thread was created ONLY to educate others on what a autosurfing site does and what a ponzi is. asdcashgenerator.com has currently not been charged with fraud (at the time of writing this) however other autosurfing sites have been.
UPDATE: ASD Cash Generator, Golden Panda Ad Builder and Andy Bowdoin has been shut down (site shut down on 8-1-08) and items plus money sezied by the feds (see the comments below) for fraud. Charges have been filed.
Andy Bowdoin CEO of ASD Cash Generator, Golden Panda Ad Builder Generator is in serious HOT water. His sites were shut down by the Feds, 2 homes seized and they also seized $53 MILLION dollars from him.
According to the Justice Department's forfeiture complaint:
" . . . there is reasonable cause to believe that ASD, Thomas A. Bowdoin, Jr. and others, devised and intended to devise a scheme or artifice to defraud, or a scheme for obtaining money or property by means of false or fraudulent pretenses, representations, or promises, and that he and they transmitted or cause to be transmitted by means of wire, communications in interstate or foreign commerce (including writings, signs, signals, pictures, or sounds), for the purpose of executing such scheme or artifice, to wit: an Internet-based Ponzi scheme, in violation of Title 18, United States Code, Section 1343 (Wire Fraud); and in violation of Title 18, United States Code, Section 371 (Conspiracy to Commit Wire Fraud)," the complaint read in part.
You can read more about it here: ASD Declared A 'Ponzi Scheme'; Feds Seize Two Homes, $53 million
wouldn't surprise me if later we find out he is also involved in import/exporting weapons, drugs, and laundering those dolla` bills baby!
Tuna ><((((*> the other white meat!
Well I guess he has quite a arrest record in the past for fraud.
........ whatever happened to working for a living?
You know that saying if its too good to be true it probably is....yeah well this was too good to be true.
WOW this cant be good but hey I saw it coming. To bad my relatives who invested thousands didn't see it. They had been trying for the last week and a half to get some money out but never got one dime - they lost all of the money they put into it - maybe they should have listened to me.......
http://asdcashgenerator.com/index.php <--- if you want to see
I hope that no one here got burned on this one. I'll be curious to how this plays out legally (I'll let you know what I find).
So I came across this article today and found it interesting:
ASD Cash Generator considered fraud
See I have relatives who think they can make fast money and well I heard today that they are having problems and cant log on to there site - hummmm Now they would never admit this to me since well I said fraud from day one!
My mother-in-law is from Colomiba and some of her family over there are "investing" in something where I'm not too sure exactly how it goes, but they "invest" $1,000, and six months later, they get $2,000 back. NOW, this is obviously something illegal or fishy or something WRONG, but hey, her family is making money off of it. She is interested, even though I've told her to be careful... I personally wouldn't invest it, but to others that do things like this, PLEASE be careful!!
LadyBunnyLover