The L.A. Times is reporting that the SEC is seeking to shut down Prosperity Automated System.
The Securities and Exchange Commission is seeking to shut down a network of 25,000 websites, accusing operators of running a $15-million pyramid scheme that promises to shower participants with easy cash.
Prosperity Automated System, which bills itself as a marketing network, “is destined to collapse and leave the vast majority of investors with substantial losses,” the SEC said Wednesday.
Prosperity Automated System Blog: Breaking News: Prosperity Automated System Under Fire
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