Position: Owner, Rex Venture Group, LLC
Crime: Paul Burks is a modern-day fraudster who used technology to defraud almost one million investors of more than $900 million using a penny stock website. Burks scammed investors by enticing them with the promise of shares of the “daily net profit” from his penny auction website Zeekler.com. According to court records, Burks falsely represented that Zeekler was generating massive retail profits from its penny auctions, and the public could share in on the profits by investing in ZeekRewards. At one point, the conspirators claimed that investors would be guaranteed a 125% return on their investment.
Charges/Sentencing: Burks was given three concurrent prison sentences of 14 years and eight months for his lead role in the Lexington Ponzi scheme.