12 Daily Pro Members Now Allowed to Chargeback “Investments”

Posted on 04. Apr, 2006 by in Fraud & Scams, News

Two weeks ago CPA Thomas Lennon, the court-appointed receiver, was warning all investors to cut out the charge backs. In his first communication since taking over, Lennon wrote, “The Permanent Injunction has the effect of freezing those assets and prohibiting anyone, including investors, from attempting to obtain those assets.”

Lennon contended the court order is “extremely broad” and “prohibits efforts by 12 Daily Pro members from enforcing claims through self-help, such as initiating credit card charge backs, or reversing electronic fund transfers.” Anyone who does so, he warns, risks being “found in contempt of Court, with the resulting consequences.”
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His announcement came after many of the victims of 12 Daily Pro’s Ponzi Scheme had been trying to get back their investment by using “charge backs”. They went to their bank or credit card issuer and asked them to reverse or “charge back” transfers to the 12 Daily Pro account.

However, last week Judge Manella issued a Minute Order allowing 12 Daily Pro “investors” to try and dispute charges with their credit card company, bank, or ACH. Some claim they’ve been successful using this tactic; however, there’s no guarantee that the members will get anything of the total $50 million back.

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