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DOJ Files Complaint Against Internet Ad Company

Wants $53 million

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The U.S. Department of Justice wants to seize the property and $53 million from the owner of a Florida- based Internet company that allegedly was involved in a massive Ponzi scheme.

A Ponzi scheme is named after Charles Ponzi, who around 100 years ago tricked thousand of New Englanders into investing their money with him. Money from new investors is used to pay off earlier investors until the scheme collapses.

The DOJ filed a civil forfeiture complaint in U.S. District Court for the District of Columbia to keep the property owned by Thomas Bowdion Jr., owner of AdSurfDaily (ASD), which operates asdcashgenerator.com, lafuentedinero.com and goldenpandaadbuilder.com.

The complaint alleges that from January 2007 to the present ASD operated a "paid auto-surf program." Under the program ASD generated advertising revenue by automatically rotating Web sites into its investor’s browsers. To attract investors ASD said it would pay a return of between 125 percent and 150 percent on each dollar  investor’s gave to the company. In return investor’s agreed to view a couple of Web sites for a couple of minutes each day.

To mask the scheme, ASD referred to its investors as "advertisers," their payments as "ad purchases" and its payments as "rebates."

ASD did not operate as a seller of advertising services and there was no product being sold to support the profits the company claimed it would pay its investors. The company was creating no significant wealth by selling advertising to purchasers outside of its investor members; the only wealth gained by any participant and Bowdoin was wealth lost by other participants. 
 

The investigation is ongoing and no criminal charges have been filed at this point.

 

DOJ Files Complaint Against Internet Ad Company
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  • http://www.incomepower.net Tim Flowers

    I know some people who were in ASD, and despite my warnings, they wouldn’t listen to anything I said. The attitude amongst ASD members was almost cult-like. They were so blinded by greed they would defend anything and everything the company did. Even when ASD shut down thir website for almost 3 weeks leading up to the shutdown by the Feds, ASD members defended Andy Bowdoin as if he were the new messiah.

    While I feel sorry for a great many of the newer, unwitting victims, quite a few of ASD’s members had to know what they were involved in but they chose to look the other way while their ASD account balances expanded (at least on paper, if not in reality).

    It’s unfortunate that scams like this pollute the internet, making it difficult for legitimate business opportunities to thrive.

  • http://myskinnybiz.com/debhopkins David

    Better late than never, but so many people in the end will have been hurt by this program. 

    Can’t say I have empathy for those that have pledged blinded faith at every turn, but for those sucked in by the promises it sickens me.

    After some other research, I found that the ASD owner does not come out smelling like a rose.  Look up Alabama and sec issues……..

    Seems he has/had the propensity to own and operate so called businesses that did not meet up to government standards and managed to bypass jail time and pay fines only.

    With these types of programs going around, past and present, I think it is time for the powers that be to make an example not only of those who own them but those who blatently mislead people knowingly into these types of schemes. 

    Justice prevailed……………maybe if jail time is served but what about all those participants who have lost possibly what they could not afford to lose. 

    • Harold

      ASD is an advertising company  I received around 100 hits on my site per day and had many new customers. But I saw it for what it was a way to advertise my service to over a 100,000 member base.  and why wouldn’t large corporations see the same thing. problem wasn’t ASD it was the many independant distributors who sold this as an investment and not what it actually is advertisment. yes if you surfed and looked at other sites you was given a rebate. all Andy was doing was building a large enough group of people that he would draw the likes of some very large corprate sponsors. would you pay millions to advertise if there was only a group of a few thousand to see your advertisment  I bet not but if you was Guaranteed that millions would see your advertisement what would that be worth to you. hmmm   diffrent story when you actually see what was being built here isnt it . I believe that ASD is a legit and viable advertising company that will prevail once all the smoke clears.

      and since you the media seem to have the most to lose I understand why you have already convicted Andy before the US AG has even filed charges.

      oh well a free plug——>>>>>>>> www.wifigold.wifit1.com

  • http://www.shepherdsranchangusbeef.com Guest

    In the suit, there is specific mention of 4 individuals that made a specific complaint.  That is aprroximately 1/4 of 1% of the total membership.  Yes, the ASD management team had been involved with previous suits, but they had all been settled and restitution made.  Where is your Enron stock return today?

    To get the same response that I got from the ASD Rotator, I would have had to spend approximately $52,000 with Google Adwords to bid on the phrase "grass fed beef".  Now where is the scam?

    Yes, the site had been up and down during the month of July.  But there was a significant upgrade of the telephone and computer network systems in progress.  As well, the ASD Management team did address concerns about the site and gave specific instructions to members who wished to remove their funds from ASD.  Then the feds seized the accounts and who knows when the Treasury Department will get around to making the funds available to the members.

    As the ads used to say, Reading is Fundamental, and if you don’t read the Terms and Conditions of any contract carefully, you may set yourself up for disappointment.  Several law firms did review the contract and gave it a clean bill of health.  But, now we are dealing with politics and government red tape.

    If you think a moment, having a "captive" audience of 100,000 or more being rewarded to view your advertisement is not such a bad idea.  We get rebates on our credit cards, so why not a rebate for watching an ad?

    Lessons will be learned from this case, and hopefully a legal way to advertise to a large audience for a very small amount will be available to small start up businesses like mine.

  • Guest

    If you want to give away your money, give it to me…

     

     

  • Guest

    Having advertised successfully for over 7 months with AdSurfDaily and brought our small business to the attention of thousands of viewers – we do not even begin to understand the AGs claim!

    We have received real business from our advertising and so have many of the people we introduced to ASD – yes sales and trade enquiries!

    ASD owe us no money, and have always paid our sales comissions, as they have with thousands of others.

    It is the most affordable way we have ever found to advertise on the net. Google Adwords was the most expensive disaster we ever invested in!!

    The AG hasnt even attempted to find out what this company is really doing for its advertisers.

  • Guest

    Having advertised successfully for over 7 months with AdSurfDaily and brought our small business to the attention of thousands of viewers – we do not even begin to understand the AGs claim! We have received real business from our advertising and so have many of the people we introduced to ASD – yes sales and trade enquiries! ASD owe us no money, and have always paid our sales comissions, as they have with thousands of others. It is the most affordable way we have ever found to advertise on the net. Google Adwords was the most expensive disaster we ever invested in!! The AG hasnt even attempted to find out what this company is really doing for its advertisers.This is not an example of thorough reporting at all.  I expected better from WebProNews!

     

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    www.goldlink.org
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