Feds Bust $50M Online Ponzi Scheme.A North Carolina woman and her two companies settled federal charges that she operated a classic Ponzi scheme that generated $50 million on her paid "autosurf" Web site. Autosurf sites are a form of online advertising that generate revenue by automatically rotating advertised Web sites in a viewer's browser. Advertisers pay the host Web sites, which in turn pay their members to view the rotated Web sites. According to the Securities and Exchange Commission (SEC), Charis Johnson, 33, and her Web site, 12dailypro.com, moved beyond that business model to sell upgraded site memberships offering $6 "units" with a maximum investment of 1,000 units.
Sorry just had to post that!