CHARLOTTE, N.C. - Investors who profited from a $600 million Ponzi scheme in North Carolina are being urged to immediately contact a federal court-appointed receiver - or face possible legal action.
Receiver Kenneth Bell initially told investors who made money from the Lexington, N.C.-based online company ZeekRewards that they had until May 31 to contact his office to negotiate a settlement.
Bell says he doesn't know exactly how many responded by Friday's deadline. But he said he is still willing to negotiate with those who call soon.
Authorities say ZeekRewards owner 66-year-old Paul Burks was the mastermind of what they called one of the largest Ponzi schemes in U.S. history. The scam attracted 1 million investors.
Burks agreed to pay a $4 million penalty, but he has not been charged with a crime.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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