Simon

If the percentage does drop from 5% to 1% (in Coastin88) that could well be enough to bring the program down completely - panic sets in, people decide to withdraw everything before 1% becomes 0. And since they have 3 sites (plus all the ones they bought for some bizarre reason), it will probably affect the whole bunch pretty badly.

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HeyJude

The percentage was 0.11 today.

Of course, it would have to drop with no transactions allowed at the moment, that is, no upgrades and no cash outs.

According to the moderator at the CEP Trust forum, the payment processor is conducting business as usual.

There have been posts about a phishing site duplicating Coastin88...maybe stopping transaction is a way to abort such activity...Let's hope. Anyway,

I've copied Trevor's update on 20 May 2007 at Coastin88:

HeyJude

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Simon

Official confirmation that CEP (the passive investment site) is under investigation by the SEC. Whatever the outcome, it will be interesting. At 2% fixed returns per day, I suppose the "seasoned" hyiper would presume it to fail SEC scrutiny. I wonder if this one will...?

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HeyJude

An informal investigation can be initiated by a regional office of the S.E.C. and does not give the agency the power to subpoena documents or testimony. A formal one must be approved by the commission in Washington and carries subpoena power.

Let's hope we don't get to the subpoena stage, but both types of investigations are serious.

As the SEC has indicated they may be contacting CEP members, one of the issues they may have is whether CEP has misled their members or investors.

If members who are contacted can honestly say they have not been misled, that could help. But it's probably more involved than just that.

HeyJude

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HeyJude

Here is the transcript of the latest CEP Newscast (15 June) here or you can view the video from the link on Moboking site:

Moboking’s AutoSurf Blog - AutoSurf Remarks & Info » CEP NewsCast #6

HeyJude

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Simon

I went and read their forum at coastin88 yesterday (I don't know why, I had plenty of better things to be doing!), and the number of disgruntled people is definitely rising. Doesn't seem to have been much communication as to how things will pick up etc.

I read one guy had 140k's worth of advertising packs. A lot of that may be compounding, but he still must have put in a hell of a lot to get to that stage now.

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golfer21

Did you notice who got sued by the SEC for $443,484 dollars that he got out of the trust....Frederick Damron of Kentucky. Guess where the trust was incorporated....Kentucky. The administrator of the trust, Chris Barany, lives in Indianapolis, Indiana - same area as Charles Spradlin. Trevor E. Reed is a pastor and so is Spradlin. Spradlin is a known associate of Robert Earl Palm & Paul Hiram Chappell.

These two young men certainly didn't have the knowledge or experience to put together this program. They had to have help and I'm betting the above were involved in a big way. Google the names above and see what sort of fraud turns up.

BEWARE OF FRED DAMRON

Online Site's Take Pegged at $16 Million - Pittsburgh Business Journal

Colon End Parenthesis Faith Fraud by Trevor E. Reed

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