Category Archives for Scams
Bernard Madoff – A Ponzi Scam of Epic Proportions
Bernard Madoff has probably made history by operating the biggest ponzi scheme in the world. Before we look at his case, let us revisit what a ponzi scam is. A ponzi is a fake investment scheme that promises investors x% returns. The actual investment does not generate returns anywhere near that which is promised. Instead, […]
Powder River Petroleum Receiver Report
Bruce Day, the appointed receiver for Powder River Petroleum, has released the interim report of his findings. If you are an existing investor with Oilpods and would like to know more about the developments, you can download the report here: Powder River Receiver’s Report There’s one part of the report that existing investors of both […]
Powder River Petroleum Defends Themselves Against Oilpods
Following the legal lawsuit by Oilpods, Powder River and Brian Fox has now proceeded to file their defence. Details can be found in this document. A lengthy lawsuit will only mean that it will take a longer time for investors with Oilpods to find out what is going to their investments. Incidently, this case was […]
Oilpods Receiver Updates
Earlier on, I visited the website of Powder River Petroleum to find out more updates about their lawsuit by Oilpods. Powder River has already been placed into receivership for a host of charges brought against them – these includes operating a ponzi scheme and cheating thousands of Asian investors. (Update: Powder River will be contesting […]
Oilpods Update
Last week, investors with OilPods would have received a letter from the CEO of OilPods, Mr Mark Chang. Oilpods markets (oil and gas) working interest in the US, with the oil and gas lease operated by Powder River Petroleum International, formerly known as Powder River Basin Gas Corp and traded on the OTC Bulletin Board. […]