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Ponzi Scheme Uncovered in Snoqualmie


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slim
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Joined: 01/18/2008

The flashy video on the Web site for Regenesis 2x2 shows happy jet-setters cavorting in a pool, thanks to a "global, all-star team" in a gleaming boardroom that has worked out an innovative new program for "your financial freedom."

But the Secret Service says that what's billed as a "proven moneymaking machine" is really just an old-fashioned, pyramid-style Ponzi scheme. And it has apparently reeled in more than $1.5 million from those who bit on the lures of "extraordinary income fast."

And that global team? The Secret Service says it's just a pair of Eastside suburbanites — a 46-year-old woman who works as an elementary-school aide, and a 41-year-old man who is on federal probation for an investment scamA confidence game or other fraudulent scheme, especially for making a quick profit; he pulled in Nevada.

On July 17, the Secret Service raided the man's home and vehicle in Snoqualmie, a post-office box in Kirkland and the Regenesis company office in Snoqualmie.

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