Feds Returning Funds to Online Ponzi Scam Victims

By: Eyewitness News Email
By: Eyewitness News Email

[UPDATE] WASHINGTON (AP) - September 26, 2011-

Federal authorities say they are returning $55 million to people ripped off by an Internet-based Ponzi scam.

The Justice Department and Secret Service announced Monday that
they are returning the funds to 8,400 victims who invested on sites
run by AdSurf Daily Inc.

The company's founder, Thomas "Andy" Bowdoin Jr., of Quincy,
Fla., has been indicted in connection with the investigation but
has pleaded not guilty and is awaiting trial. He is accused of
drawing in investors by promising returns of 125-150 percent on
their money if they would view websites for a couple of minutes
each day.

The U.S. Attorney's Office in Washington obtained money to repay
victims through forfeiture of numerous bank accounts, real estate,
luxury vehicles and watercraft. Information for victims is
available by calling 1-800-644-1535.

December 14, 2011 -

A former Perry Mayor lands himself in hot water with the feds after scamming people out of millions of dollars.

A federal grand jury has indicted 76-year-old Thomas "Andy" Bowdoin on charges of fraud stemming from an internet-based scheme that generated more than 100-million dollars.

Bowdoin served on the Perry City Council from 1974 until 1983, serving one term as mayor in 1981.

Authorities say Bowdoin scammed thousands of people across the U.S. and other countries by posing as an online advertising company.

Bowdoin was arrested on December 1st and faces more than 100 years in prison and fines up to 6-million dollars.

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