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Old 10-01-2008, 10:35 PM   #18 (permalink)
okosh
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Default Re: Secret Service raid ASD offices....

Quote:

ASD Evidentiary Hearing Enters Second Day
Wednesday, October 1, 2008

Tension is building among members of ASD Cash Generator as the hearing to determine whether its seized assets will be unfrozen enters a second day.

ASD said in court filings that it would submit to court monitoring if the funds were released in whole or in part. ASD has asked Judge Rosemary Collyer to weigh the Constitutionality of the seizure, something that may give ASD an appeal route if the motion is denied.

Last night, the ASD Member Advocates Forum closed down, saying "We have been asked Not to post anything about the hearing."
The forum did report that witnesses had been sequestered and that things went well for ASD yesterday.

One of the issues in the case is whether ASD is a Ponzi scheme that lacks adequate revenue streams beyond member fees and pays older members with money from incoming members.
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