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Former ZeekRewards officers plead guilty to scheme

Published On: Dec 21 2013 07:20:32 AM CST

Two former officers of a North Carolina company that officials say operated a multi-million dollar Internet Ponzi scheme that was about to collapse have pleaded guilty for their roles in the case.
A statement from the U.S. Attorney's office in Asheville on Friday said 45-year-old Dawn Wright Olivares and 31-year-old Daniel C. Olivares agreed to plead guilty to federal charges stemming from an $850 million scheme that promised victims a bogus return on investments.
Dawn Olivares was chief operating officer for ZeekRewards. Daniel Olivares was senior technology officer.
The two face up to five years in prison and a $250,000 fine. As part of their plea agreements, the defendants agreed to pay full restitution to their victims. The amount will be determined by the court at sentencing.