Banners Broker Owners Arrested December 09, 2015 in Toronto, Canada.
It looks as if Chris Smith and Rajiv Dixit of Banners Broker fame, were arrested 2 days ago.
Toronto police arrested two Canadian men operating Banners Broker on fraud, false representations and pyramid scheme charges in connection with Banners Broker, a company said to be in the Internet advertising industry.
Christopher George Smith of Toronto, and Rajiv Dixit of Vancouver , netted between $93 million USD / $126 million CDN from people around the globe. $45 million was paid out to the Banners Broker members. Chris Smit and Rajiv Dixit allegedly funneled the remaining money into off-shore accounts, police said. The investigation into Banners Broker began in 2013 and involved several Canadian agencies and the USA FTC. Banners Broker website was shut down in 2014. Now Banners Broker Owners Arrested on a variety of fraud and pyramid charges.
I am confused. Wouldn’t the Banners Broker model be considered a Ponzi rather than Pyramid?
Police launched an investigation in January 2013 after receiving a complaint from the Canadian Competition Bureau (CCB). The lengthy investigation also involved the RCMP and other government agencies in Canada and the United States and resulted in Banners Broker Owners Arrested.
Detective Sargeant Ian Nichol, Toronto Police Service said police seized electronic equipment and paper records while executing a search warrant during the complex investigation.
Chris Smith and Rajiv Dixit both face five charges each, including defrauding the public and operating a pyramid scheme.
They’re scheduled for a court appearance Wednesday, December 16, 2015.
Just reporting the news folks! Yes…. Banners Broker Owners Arrested.
Faith Sloan – Internet Entrepreneur
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