Update January 16, 2015 - Highly Unusual Developments In Trial
Update August 28, 2014 - Nancy Frazer Subject Of Illinois Order
Update July 2, 2014 Frazer Trial Postponed To Feb 2015
Update Jan 27, 2014 Ohio Trial Of Nancy Jo Frazer Set To
Begin On Sept 15, 2014
Nancy Jo Frazer Faces Tough Questions From Judge - Details Here
Profitable Sunrise Gang Caught Posting Fake News Story Online
Nancy Jo Frazer Fake News Post
Nancy Jo Frazer Facing Additional Civil Charges From Kansas
Nancy Jo Frazer Charged In Kansas
Profitable Sunrise Leader Dave Steckel (of St.Charles, IL) Threatens Jim Paris
On Good Friday 2013. Were These The People Hired To Follow Jim As
Mentioned In His New Book - Exposing The Ponzi Masters?
Judge Questions Nancy Jo Frazer - An Explosive
Audio Excerpt From The Book
Profitable Sunrise Book - Click Here To Purchase On Amazon
Nancy Frazer Now Says She Was Scammed
See The Ohio Lawsuit - Click Here
Profitable Sunrise Tied To Firm That Launders Money For Child Pornography
New White Paper - What You Can Do Now To Recover Your Lost Funds Click Here
Major TV Expose' On Nancy Jo Frazer
New Zealand Warns About Nancy Jo Frazer's Group (NJF Global)
April 15, 2:52 pm - We have confirmed that Roman Novak did not show up at the SEC hearing today. We have also learned of a new e mail sent out to investors by Nancy Jo Frazer's group. The e mail portrays Nancy as a victim and minimizes her involvement with Profitable Sunrise. It continues to make reference to those of us that exposed the truth as 'cyber bullies.' Read Update Here
An excerpt -
"SERVING WITHOUT FINANCIAL REWARD
We are figuring that most of the people in Profitable Sunrise received her support without Nancy having any financial gain. Only one of the leaders you heard doing the conference calls and webinars was in her pay plan. She worked up to 18 hours per day supporting those needing help even though she has never met Roman in person. She was excited to see the charity grow even though she was never compensated from the charity. The point is, her story is not all that interesting and those who are making up false information are just hurting a Christian sister and her family. This needs to stop now. Please join us to protect one of our own who to this day picks up the phone to help. She has never stopped working for all of us. She has always been there for us."
SEC Files Suit Against Profitable Sunrise
April 5, 2013 1:00 pm Eastern
Profitable Sunrise - An Ongoing Investigative Report from ChristianMoney.com. This article was originally published on February 12, 2013 (see original article below).We are continuously updating this story and those updates appear in chronological order (most recent first). The worldwide scam targeted Christians offering a daily interest rate of 1.5% to 2.7%, and the amount of money involved is estimated to be more than $100 million. As the blog that first broke the story, we have numerous sources providing ongoing tips, recordings of past sales calls, and access to password protected portals. If you would like to arrange an interview with James Paris, please contact him by e mail. If you are an investor and have lost money, we advise you to contact your state securities regulator as soon as possible. Nationwide Securities Regulators
***Jim Paris Appears With Pat Robertson On The 700 Club To Issue Warning***
List of provinces, states, and countries issuing warnings or cease and desist orders since we published this article: New Brunswick, Quebec, Ontario, British Columbia, Alberta, Manitoba. In the United States: Kentucky, Ohio, Florida, Wisconsin, Nevada, Minnesota, California, Indiana, New Mexico, Texas, Delaware, North Dakota, South Dakota, Alabama, North Carolina, South Carolina, Alaska, Maryland, Maine, New Jersey, Louisiana, Tennessee, Missouri, and Oregon. Other countries: New Zealand, and United Kingdom.
March 4 Press Release
March 11 Press Release
March 15 Press Release
March 21 Press Release (YouTube Censors Our Videos)
Follow 24/7 Updates On Twitter #profitablesunrise
NJF Global Keeps Investors At Bay With Yet Another New Story About
Why The Profitable Sunrise Website Has Been Offline For 3 Weeks
Shocking new conference call March 26, 2013. The speaker is Mike Rothermel. I was amazed at the disrespectful and arrogant tone throughout, as people try to simply get information about the money they have invested in Profitable Sunrise. At 51 minutes there is a very interesting interaction with an IRS agent that you don't want to miss.
Ohio Notice Of Intent To Issue Cease And Desist Order
(thanks to our friends at RealScam.com)
*** To View Full Document Click On It
We have been provided this recording from a source who tells us that the main speaker on this call is Tony Infante. The mini audio clip below is from an unknown additional speaker (this clip is included in the larger recording but has been excerpted since we believe it is very significant). The call took place at 9 pm on March 21, 2013.
"The cease and desist orders from the states...well they're telling you to cease and desist on selling securities, we're not selling any securities and we're free citizens. We have free will our rights are protected by the Constitution and the government is restrained by the Constitution. We can do what we want... just because the government says you can't do something that's... if it's an unconstitutional rule it doesn't apply to us. So, unless you're the attorney general the rule that they put out saying that you can't have anything to do with Profitable Sunrise that applies to him that doesn't apply to us..." Mike Rothermel
March 20, 2013 6:30 pm - NJF Global Group holds conference call and warns followers 'not to be worried if the Profitable Sunrise site is not back online until Monday.' Despite attendees attempt to ask questions they were told that no questions would be taken. Followers were told that there will be no more conference calls for at least two weeks. Everyone was told to be patient and not listen to anything that James Paris or Lynn Edgington are saying. Attendees were advised to make complaints to the sites that stream our show. Nancy Frazer demanded that we take down her picture and audio from this site or further action would be taken against us.
*** March 20, 2013 - We have multiple unconfirmed reports that the top leaders and promoters of PS are telling people that the Profitable Sunrise website will not be coming back online. After promising that the site was coming back online repeatedly and changing the time frame multiple times, now the story has changed again. There is supposedly going to be a new website and entirely new program that will come online on Friday. PS investors will be moved into the new program. If you have more complete information on the 'new plan' please post in the comments section below.
*** March 19, 2013- A New Scam Being Perpetrated On Profitable Sunrise Investors. You may be contacted by someone claiming to work with the government. They will offer to assist you in obtaining a refund of the money you have invested. You will be asked to pay a fee of $30. Some are informing me that they are also being asked to provide their banking information. The government will appoint a receiver and any assets will be distributed by the receiver's office. This usually takes a few months to happen. I would be highly skeptical of any other offers for the return of your money, especially if they want you to pay a fee and they require your banking information. This is not how a legitimate receiver operates.
March 18, 2013 - List of provinces, states, and countries issuing warnings or cease and desist orders: Ohio, Florida, Wisconsin, Nevada, Minnesota, California, Indiana, Maine, New Mexico, Texas, Delaware, North Dakota, New Jersey, South Dakota, Alabama, North Carolina, South Carolina, Alaska, Maryland, New Brunswick, Quebec, Ontario, British Columbia, Alberta, New Zealand, and United Kingdom.
March 18, 2013 11:25 am - It appears that top promoters of Profitable Sunrise are closely monitoring this page as they have now password protected most of their website and changed the password. Top leaders continue to promote the idea that the servers are being migrated and that the site will be back online soon in Hong Kong.
Post made this morning to the NJF Global Group site-
"WE ARE ALL WAITING FOR SERVER MIGRATION TO BE COMPLETE. We cannot email support until it is back online to be advised as to the decisions of their Legal Team as to the function of their website in relation to those states and countries requesting registration. We are confident Mr. Novak will keep his word on all things as he always has thus far.
From the Profitable Sunrise Facebook page -
March 16, 2013 11:22 am - Top Profitable Sunrise promoter Nancy Jo Frazer defies cease and desist orders by continuing to market the opportunity on her website. That page is now password protected but she is giving out the password 'successtoday' for access. Additionally, she continues to tout the future viability of Profitable Sunrise to her followers suggesting that Roman Novak's website will be back online soon. Some of her followers are now posting in the forums that the Profitable Sunrise website is being moved to China (Hong Kong) to avoid U.S. jurisdiction.
*** New Audio Below Just Posted March 15, 2013 ***
March 18, 2013 3:46 pm - New Jersey’s top law enforcement official and the Division of Consumer Affairs’ Bureau of Securities issued an alert to all New Jersey investors regarding a foreign-based company known as Profitable Sunrise. Click here.
March 18, 2013 11:19 am - Maryland Attorney General issues cease and desist order against offshore internet investment scheme. Click here.
March 17, 2013 2:00 pm - Maine warns of online investment scam. Click here.
March 14, 2013 7:39 pm - Sources informing us that many of the promoters of Profitable Sunrise being served subpoenas by law enforcement today.
March 14, 2013 6:05pm - Our sources inform us that California and South Dakota are now joining the growing number of states taking action against Profitable Sunrise.
March 14, 2013 3:05 pm - Investor alert: Ohioans warned about potential fraud tied to foreign website. Click here.
March 14, 2013 2:50 pm - Florida Office of Financial Regulation warns Florida investors about possible fraud with online overseas investments. Click here.
March 14, 2013 2:43pm - Attorney General Beau Biden puts an end to a profitable investment scam in Delaware. Click here.
March 14, 2013 12:11 pm - Minnesota regulators accuse Profitable Sunrise of fraud. Click here.
March 14, 2013 10:26 am - Wisconsin officials encouraged anyone who has invested with Profitable Sunrise to contact the state Division of Securities enforcement office. Click here.
March 14, 2013 9:23 am - Today the Kentucky Department of Financial Institutions (DFI) issued an emergency cease and desist order against an international company called Profitable Sunrise and its operators. Click here.
March 14, 2013 8:33 am - ProfitableSunrise.com is now offline.
March 12, 2013 4:00 pm - The British Columbia Securities Commission is warning the public not to send money to Profitable Sunrise, an entity that purports to be incorporated and registered in the United Kingdom, and claims to provide short-term bridge loans to companies in the United States.
March 12, 2013 12:49pm - Ontario Securities Commission | OSC INVESTOR ALERT: Inter Reef Ltd., Roman Novak and Radoslav Novak (doing business as Profitable Sunrise)
March 11, 2013 1:33 pm - Anonymous tip suggests server address of Profitable Sunrise servers may be traced to Montreal
Profitable Sunrise.com points to 22.214.171.124 IP which belongs to BlackLotus AntiDDOS, which is just providing a layer of protection by means of a tunnel to the real site which is hiding its location. The tunnel endpoint (and actual PS host) is at server1.profitablesunrise.com with IP address 126.96.36.199 which is provided by Server4Sale hosing reselling company and the block of 6 IP addresses was leased from iWeb Technologies Inc. of Canada. So, if anyone wants to shut them down or seize their database, logs and files, might be able to contact http://iweb.com/ Montreal, Canada.
March 11, 2013 11:15 am - The Alberta Securities Commission issues warning on Profitable Sunrise.
March 10, 2013 10:15 am - Profitable Sunrise added to Wikipedia HYIP Scam page
March 9, 2013 9:25 pm - We have learned that the Better Business Bureau has given Profitable Sunrise an F rating, issued a special warning, and has classified the business as a Ponzi scheme.
March 9, 2013 7:50 pm - James Paris makes public offer to Nancy Jo Frazer and Roman Novak to appear on his live Sunday night show to give their side of the story on Profitable Sunrise.
The company everyone has been told is legally operating in the UK is now banned from operating there. The Financial Services Authority has added Profitable Sunrise to its list of Unauthorized firms as of March 5, 2013 (see below). We are unable to find any license for securities or investments that ever existed for Profitable Sunrise in the UK. Profitable Sunrise Banned In UK
March 8, 2013 5:51 pm - We have learned that Profitable Sunrise has now been added to the list of unauthorized firms and individuals by the FSA in the United Kingdom.
An "Insider's View" Of NJF Global Group
"The Securities Laws Are So Loose Here In The United States... They Won't Touch
You Until You Hit About $50 Million Dollars Per Month ... When I Saw Profitable
Sunrise Was Offshore, That Was The Very First Thing That Attracted Me..."
Nancy Jo Frazer (full unedited audio below)
March 7, 2013 12:55 pm - NJF Global Group website comes back online with a new message from Nancy Jo Frazer.
"Change is Awesome!
March 7, 2013 2:30 am - NJF Global Group website (Nancy Jo Frazer) disappears and is replaced with a website template featuring a picture of a cat with no explanation. All information about Profitable Sunrise has been purged from the site.
March 6, 2013 8:31 am - (click here for full story)
March 6, 2013 3:39 am - New NJF Global Conference Call "More confident than ever about the legitimacy of the program..." Note that they did record this call not us, and the recording was posted online and then forwarded to us by one of our readers. Very strange at the end how they are 'unable to take questions' from participants. Also, how they tell everyone not to call or contact their office for the next several days.
From Dave Ramsey On Twitter -
March 2, 2013 9:21 am - The New Zealand Herald confirming our reporting that Profitable Sunrise can be traced back to a shell corporation with the sole shareholder and director being a 45 year old woman by the name of Agnes Jouneau who lives in Seychelles.
"The Weekend Herald can also reveal that Ms Jouaneau was the director of 178 businesses registered in New Zealand that have been struck off. They were part of 1,800 shell companies removed by the Companies Office, following an investigation into one of these companies, SP Trading Ltd, which chartered a cargo plane carrying 35 tonnes of North Korean arms - including anti-aircraft missiles and rocket-propelled grenades - to Iran. The plane was stopped in Thailand in December 2009."
March 13, 2013 5:38 pm - I just got off the phone with an individual at Pastor Nancy Jo Frazer's office and he says that she just left for vacation with her family and is unavailable for comment.
Profitable Sunrise Breaking News - North Carolina Issues Cease And Desist Order
On February 27, 2013, the Securities Division of the North Carolina Department of the Secretary of State issued a Temporary Order to Cease and Desist to Roman Novak, Radoslav Novak, and Inter Reef LTD d/b/a Profitable Sunrise. Roman Novak, Radoslav Novak, and Inter Reef LTD d/b/a Profitable Sunrise were ordered to cease and desist from offering for sale, soliciting offers to purchase or selling, in or from North Carolina, any securities unless and until such securities have been registered and Roman Novak, Radoslav Novak, and Inter Reef LTD d/b/a Profitable Sunrise become registered as dealers or salesmen of securities. The Temporary Order to Cease and Desist found that Roman Novak, Radoslav Novak, and Inter Reef LTD d/b/a Profitable Sunrise offered investment contracts in the form of investment plans, made available through their website http://www.profitablesunrise.com, in violation of the North Carolina Securities Act. The Temporary Order to Cease and Desist gives Respondents 30 days in which to request a hearing. If no such request is made during that time, the Temporary Order to Cease and Desist shall become final.
Pastor Nancy Jo Frazer On Conference Call (Below) (New audio obtained March 3, 2013) *** We do not have the date when this was originally recorded.
Original Story (below) published on February 12, 2013
The investment opportunity is called 'Profitable Sunrise,' and after a week and a half of investigating it, I can honestly tell you that I have more questions than when I started. I first learned of it from a friend who is a full time minister who shared with me that he had invested $250 in the program. He also informed me that a friend of his had invested $30,000. I posted a comment on my Facebook page looking for others that may have invested, and one more individual came forward to let me know that they had done so. It seems that I have just scratched the surface, not realizing how many people it seems are investing their money into this program.
New Video Just Added Feb 27, 2013
The company's motto is 'Get Richer With Every Sunrise.' The claim: investors will earn 1.6% to 2% daily with no risk. Just to give you an idea of what this really means, I thought it would be interesting to do the math on $100 over the course of one year at 2% daily. The result - $137,000. Of course, you would expect that anyone making such claims of returns like this would have a lot to back it up, right? No, not at all. What's more, the people I interviewed for this story seemed to have little concern about getting their hands on anything that would represent reasonable due diligence before having made their investment. See the full presentation here. I stand corrected - The interest is only paid on 'business' days and over the course of one year there are 250 business days. At 2%, $100 would grow to be $14,126 during this period. It is still a ludicrous claim, especially when they are telling people that is is a 'risk free' return. Additionally, I have never heard of interest not being owed on a holiday (but that is their system). If a loan is outstanding, interest accrues (holiday or not). Nonetheless, I want to be as accurate as possible here as we continue to uncover more details.
Special note on the three videos below. These videos were at one time on YouTube and were embedded here. The videos were then removed from YouTube by the promoters. We expected that, and downloaded copies of the videos and are hosting them now on our own server. We will not take them down under any circumstances. One of my sources has informed me that as of March 2 the organizers and promoters are working frantically to take down everything they have posted on YouTube to cover their tracks.
ChristianMoney.com located two individuals online who were promoting the investment opportunity. Although we were not able to get any of the details on the compensation being paid to promoters, there appears to be some sort of network-marketing-like structure to the recruitment of new investors. One individual explained to me that he has reached the point in his spiritual walk that he no longer needs to ask how, he can just accept on faith that the returns are real. Another individual, informing me that she is a pastor, says she is recruiting more than 100 people per day into the investment opportunity. She claims that the organization is operating offshore and is exempt from securities regulations and U.S. laws. Despite going on the record with ChristianMoney.com for thirty minutes, she requested (afterward) that we not mention her name.
Who is behind Profitable Sunrise? This is the question we have tried to get an answer to and it was not easy. Checking the registration of their website, we found two phone numbers, both of which have area codes placing them in Central Florida. The pastor we interviewed could not tell us where the company was based, but we did find a Birmingham, England address on their Internet records. Despite this address, we were told that this was just a 'drop box' and that there was no one physically at this address.The corporate name behind the operation is Inter Reef, LTD. but we don't know where this entity is incorporated or if they have any physical office location.
The principals behind the company are two brothers; Roman and Radoslav Novak. Where are they? We don't know and have not been able to find out. Over a week ago, ChristianMoney.com submitted a formal request for an Interview through the company's website and we have yet to receive a response. The pastor we interviewed refused to connect us with the principals, saying that interviewing them would be a waste of their time. Of course, I pointed out that we are the website of record for Christians and money and that we would be publishing an article with or without their participation; nonetheless we never received a response.
The pastor we interviewed explained that the investors she is recruiting are tired of the U.S. banking system, which she explained takes in your money and profits from it while sharing with depositors very small rates of interest. She said that Profitable Sunrise allows investors to do what the bank does with its own money. These disenfranchised bank depositors and U.S. investors have turned to Roman Novak who has graciously provided them a way to make the 'real money' like the big banks and corporations.
How Does Profitable Sunrise Earn These Returns?
When asked how these returns were able to be generated, we were told that Roman Novak makes 'hard money loans' at very high interest rates to businesses that need short term funding. "The loans are at zero risk since they are insured and backed by hard assets." Each of the individuals we interviewed said they know that the opportunity is legitimate since they have already seen early investors being paid. Of course, there is the possibility that early investors returns are coming from the deposits of the current investors.
I have a very open mind. In fact, probably too much so. This is not about me trying to spoil the party for my Christian brothers and sisters. If this investment is legitimate, we ask for Mr. Novak to provide us with a physical office addresss, audited financial statements, and an on the record interview. We will gladly provide you the chance to share your side of the story.
Helping you make the most of God’s money!
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