Itechtip : Do more research before spending a cent online
Finally, the Securities and Exchange Commission (SEC) has started proceedings against Charis Johnson, 33, of Charlotte, N.C. and her companies, 12dailypro and LifeClicks, LLC. I used to join paid surfing programs for free and hardly paid out any money to become full time members. If it sounds too good to be true, it probably is.
According to the Commission's complaint, the 12daily Pro website, recently ranked as the 352nd most heavily trafficked website, solicited investors to become "upgraded members" by buying "units" for a "fee" of $6 per unit, with a maximum of 1,000 units. 12daily Pro promised to pay each upgraded member 12% of his or her membership fee per day for 12 days.
The Commission alleges that the defendants defrauded investors by operating 12daily Pro as almost a pure Ponzi scheme - using new investor monies to pay the promised returns to existing investors - in violation of the federal securities laws. The defendants falsely represented that upgraded members' earnings "are financed not only [by] incoming member fees, but also with multiple income streams including advertising, and off-site investments."
Read this FTC site on how not to get caught up with the frenzy
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