ASD admin Andy Bowdoin arrested by federal agents in Florida

[okosh]

Admin of ASD surf daily scam Andy Bowdoin has been arrested and locked up....

From Patric Pretty Blog...

-------------------
BULLETIN: UPDATED 4:40 P.M. ET (U.S.A.) AdSurfDaily President Andy Bowdoin has been arrested by federal agents in Florida after an indictment was unsealed earlier today that charged him with five counts of wire fraud, one count of securities fraud and one count of unlawful sale of unregistered securities.

Bowdoin, 76, was arrested in Englewood, Fla. Details on bail were not immediately available. It is believed the U.S. Secret Service made the arrest. If convicted on all counts, Bowdoin faces a maximum prison sentence of 125 years and a maximum fine of $6.26 million.

ASD was raided by the Secret Service in August 2008. The case began as a civil-forfeiture action with the filing of a forfeiture complaint that month and the filing of a second complaint in December 2008, as the investigation proceeded.

With the unsealing of the indictment that alleges a massive Ponzi scheme, Bowdoin now faces serious criminal charges — and yet-another forfeiture action, this one in criminal court. Today’s forfeiture allegation was included in the indictment and called for a judgment of $110 million to be entered against Bowdoin.

Prosecutors charged today for the first time that Bowdoin actively discouraged ASD members from contacting law enforcement prior to the Secret Service raid in August 2008. Meanwhile, prosecutors revealed for the first time that a financial analyst had been assigned to the case from the U.S. Attorney’s Office in the District of Columbia.

U.S. Attorney Ronald C. Machen Jr. of the District of Columbia praised the Secret Service, which had been derided by Bowdoin as “Satan,” for its work on the case. Machen also praised William Cowden, the former federal prosecutor who brought the forfeiture actions.

Cowden was derided as “Gomer Pyle” by members of the pro-ASD Surf’s Up forum, one of whom opined that he should be placed in a medieval torture rack while ASD members drew straws to determine who got to tighten the wheel.

Bowdoin, according to the 18-page indictment, used ASD members’ money to make a donation to the National Republican Congressional Committee (NRCC). The allegation marked the first time the government had charged that Bowdoin used Ponzi proceeds to make the donation. Bowdoin was specifically accused of permitting members to make false claims about a “Medal of Distinction” he received from NRCC.

Members claimed the award was an important award from the President of the United States. In reality, according to the indictment, the award was for campaign donations — and Bowdoin did not correct the record.

Meanwhile, the indictment accused Bowdoin of not correcting the record when a purported ASD “compliance officer” said the Bowdoin’s only run-in with law enforcement had been as the recipient of a speeding ticket.

In truth, prosecutors said, Bowdoin had been charged in two two securities cases in Alabama during the 1990s, pleading guilty in one case and entering a plea of “best interest” in another that required him to pay restitution to victims.

[brutus]

Originally Posted by okosh Admin of ASD surf daily scam Andy Bowdoin has been arrested and locked up.... From Patric Pretty Blog... ------------------- BULLETIN: UPDATED 4:40 P.M. ET (U.S.A.) AdSurfDaily President Andy Bowdoin has been arrested by federal agents in Florida after an indictment was unsealed earlier today that charged him with five counts of wire fraud, one count of securities fraud and one count of unlawful sale of unregistered securities. Bowdoin, 76, was arrested in Englewood, Fla. Details on bail were not immediately available. It is believed the U.S. Secret Service made the arrest. If convicted on all counts, Bowdoin faces a maximum prison sentence of 125 years and a maximum fine of $6.26 million. ASD was raided by the Secret Service in August 2008. The case began as a civil-forfeiture action with the filing of a forfeiture complaint that month and the filing of a second complaint in December 2008, as the investigation proceeded. With the unsealing of the indictment that alleges a massive Ponzi scheme, Bowdoin now faces serious criminal charges — and yet-another forfeiture action, this one in criminal court. Today’s forfeiture allegation was included in the indictment and called for a judgment of $110 million to be entered against Bowdoin. Prosecutors charged today for the first time that Bowdoin actively discouraged ASD members from contacting law enforcement prior to the Secret Service raid in August 2008. Meanwhile, prosecutors revealed for the first time that a financial analyst had been assigned to the case from the U.S. Attorney’s Office in the District of Columbia. U.S. Attorney Ronald C. Machen Jr. of the District of Columbia praised the Secret Service, which had been derided by Bowdoin as “Satan,” for its work on the case. Machen also praised William Cowden, the former federal prosecutor who brought the forfeiture actions. Cowden was derided as “Gomer Pyle” by members of the pro-ASD Surf’s Up forum, one of whom opined that he should be placed in a medieval torture rack while ASD members drew straws to determine who got to tighten the wheel. Bowdoin, according to the 18-page indictment, used ASD members’ money to make a donation to the National Republican Congressional Committee (NRCC). The allegation marked the first time the government had charged that Bowdoin used Ponzi proceeds to make the donation. Bowdoin was specifically accused of permitting members to make false claims about a “Medal of Distinction” he received from NRCC. Members claimed the award was an important award from the President of the United States. In reality, according to the indictment, the award was for campaign donations — and Bowdoin did not correct the record. Meanwhile, the indictment accused Bowdoin of not correcting the record when a purported ASD “compliance officer” said the Bowdoin’s only run-in with law enforcement had been as the recipient of a speeding ticket. In truth, prosecutors said, Bowdoin had been charged in two two securities cases in Alabama during the 1990s, pleading guilty in one case and entering a plea of “best interest” in another that required him to pay restitution to victims.

Major pimps and some forum mods should be worried when they unseal the indictments. Hello charles.

Wonderful news. I hope they go after anybody and everybody that has dirty hands. Lock them all up.

[okosh]

Originally Posted by brutus Major pimps and some forum mods should be worried when they unseal the indictments. Hello charles.

LOL....Not just Charles Russo need to be worried....

How about Faith Renee Sloan.....GNI forum Nazi Nelson Neives....ASA forum Nazi Emily2...
TG forum Nazi Joseph....
The list goes on and on....
Hope they get them all....

Originally Posted by okosh LOL....Not just Charles Russo need to be worried.... How about Faith Renee Sloan.....GNI forum Nazi Nelson Neives....ASA forum Nazi Emily2... TG forum Nazi Joseph.... The list goes on and on.... Hope they get them all....

Dont forget Shad Foss. lol

[brutus]

Originally Posted by Unregistered Dont forget Shad Foss. lol

Shad Foss and Jack Cobb and Charles Russo had clawback preformed on them by the authorities in CEP. They can't claim that they didn't know better in a new scam.

LINK:

SEC v. Colon End Parenthesis Trust LLC

Originally Posted by okosh LOL....Not just Charles Russo need to be worried.... How about Faith Renee Sloan.....GNI forum Nazi Nelson Neives....ASA forum Nazi Emily2... TG forum Nazi Joseph.... The list goes on and on.... Hope they get them all....

Would love to see that referral w hore Faith Sloan get what she deserves. I cannot put into words what a miserable human being she is.
The fun is just beginning!

[okosh]

Originally Posted by Unregistered Would love to see that referral w hore Faith Sloan get what she deserves. I cannot put into words what a miserable human being she is. The fun is just beginning!

Though quiet in the usual forums Faith Sloan is still actively scamming....Her most recent scam is the matrix scam SunRiseTravelClub...
The feds are watching....

[brutus]

Originally Posted by okosh Though quiet in the usual forums Faith Sloan is still actively scamming....Her most recent scam is the matrix scam SunRiseTravelClub... The feds are watching....

You're right, the Authorities are watching.

FBI Says It Has Opened 291 New HYIP Cases And Has 780 Pending Cases Of High-Yield Fraud; Many Have ‘International Nexus,’ Agency Notes

Link:

FBI Says It Has Opened 291 New HYIP Cases And Has 780 Pending Cases Of High-Yield Fraud; Many Have ‘International Nexus,’ Agency Notes

[okosh]

Some bad news in this case....Bowdoin has been granted bail of $350,000....

----------------------------------------------------------------------
Andy Bowdoin Makes $350,000 Bail After Relative Posts Surety Bond; No Date Set For Formal Arraignment On Fraud Charges In District Of Columbia

By PatrickPretty.com 8:52 pm Dec 2, 2010

AdSurfDaily President Andy Bowdoin appeared before a federal magistrate judge in Florida after his arrest yesterday on charges of wire fraud, securities fraud and selling unregistered securities, the PP Blog has learned.

Bail for Bowdoin was set at $350,000. The bail was secured by two properties and a surety bond from a relative. Bowdoin was released after posting it.

No date has been set for the arraignment. Because Bowdoin was arrested in Florida on charges filed in the District of Columbia, the initial proceedings were conducted by a federal magistrate judge in Florida.