Former ZeekRewards officers plead guilty to scheme

Dec. 20, 2013 @ 04:54 PM

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.