As many of you already know, the SEC shut down the organization known as Zeek Rewards and it's sister company Zeekler on August 17, 2012, alleging the company was engaged in a $600 million dollar ponzi scheme, by lieing about it's profits and paying members with other member's money through the use of a point system that was used to cover up it's "true" motives.

Since then many formers members and those interested in the company have wondered what the latest Zeek Rewards news and updates are and if there is any end in sight. Here is what we know so far:

Latest update as of 11/12/2012:

While the case is being investigated, a receiver has been hired to reclaim money from affiliates who profited off the company and give back the profits to those who lost money through the company. The process by which this is done is complaints are being filed by Zeek Rewards members who have lost their investments in the company. In addition to that, while searching through it's member's information, the receiver has been able to find members who have profited off the company.

These people have been asked to return their profits which will then be given out to those who have lost it. Although there is supposedly more than a million plus members that have put money into this organization, one thing is certain: This process will take a LONG time to sort out.

What has been released is that so far $300 million has been recovered and if you are a member who still has yet to receive your investment back, please be patient or file an official complaint with the receiver.

While it is not 100% guaranteed that everyone will get back what they lost, it is important to know that there are also "copycat" companies rising out of the fall of this one claiming to work the same way, but not engage in any fraudulent tactics.

Many officials have said that these companies are not to be trusted as they are likely trying to take advantage of previous members and bring them on board for what could potentially be another ponzi scheme in the making. If you are someone who is looking for other opportunities, please exercise caution before jumping on board to another type of company.

The rule of thumb here is pretty general: If it sound too good to be true, it may very well be that way! Easy money isn't easy, unless there is some sort of illegal activity involved. Please make sure to be careful and do your own research! Once again, if you were affected by the Zeek Rewards event, please file an official complaint if you haven't already done so.