WASHINGTON, D.C. -- Two former officials of the Lexington-based Rex Venture Group will plead guilty to federal charges for their roles in what investigators have called the largest-Ponzi scheme in U.S. history.
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ZeekRewards' former Chief Operating Officer, Dawn Wright Olivares, and the company's former Senior Technology Officer, Daniel C. Olivares agreed to please guilty, announced Anne M. Tompkins, U.S. Attorney for the Western District of North Carolina.
"ZeekRewards used the enormous power of the Internet to rip off $850 million from hundreds of thousands of victims in less than two years" said U.S. Attorney Tompkins.
"We will continue to work with our law enforcement partners to take down greedy scam artists who think nothing of stealing the savings of hard working people."
In the plea agreements filed Friday with the Court, Dawn Wright Olivares has agreed to plead guilty to an investment fraud conspiracy charge and to tax fraud conspiracy.
Daniel Olivares has agreed to plead guilty to an investment fraud conspiracy charge.
Each charge carries a maximum prison term of five years in prison and a $250,000 fine.
As part of their plea agreements, the defendants have also agreed to pay full restitution to their victims, the amount of which will be determined by the Court at sentencing.
Additional information and updated court filings about this and related cases filings can be accessed at the district's website: http://www.justice.gov/usao/ncw/ncwvwa.html.
Department of Justice