The website, targeted at Christian investors, was riddled with Bible verses and links to charity. Since April, assets in those companies — and one bank account in Color Shock — have been frozen.
As for the gains on investment, the 7K that Linda put down is likely to be less fruitful than returns on a loan-shark orchestrated mortgage. By Press-Enterprise. And, there goes your money. With frequent references to biblical scripture, the company appears to be targeting those in the faith-based community. Neither brother is licensed or registered to sell securities in Delaware and none of the investment products they offer are registered in Delaware, as required by state law.
One Delaware investor was told was told his investment went towards a clean water program for impoverished countries, while other investors have been told that Profitable Sunrise makes loans to business in the US. To date, investigators have been unable to locate a single business recipient of funds raised by Profitable Sunrise, let alone one capable of generating the extraordinary promised returns. The company appears to have little physical presence other than a mailbox in England.
A bank account linked to the company traces back to the Czech Republic. The Securities Division has civil and criminal jurisdiction over the sale of securities within the State of Delaware. Man shot and killed in north Minneapolis; suspect arrested after attempted carjacking.
Scoggins: Verdict on Gophers season again comes down to beating Iowa, Wisconsin. The 5 best things our food writers ate in the Twin Cities area this week. Protest outside Prior Lake High attracts hundreds outraged by racist video. Massive Harmonia Hall in Minneapolis went from a jewel to a rooming house. Local State says Web-based Profitable Sunrise 'victimizing Minnesotans' Regulators warned investors about "Internet scheme" to separate them from their money.
Pyramid approach As incentive for reeling in new investors, a three-tiered referral opportunity is extended to investors, making it identical to a pyramid or multilevel sales approach.
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