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Grand jury to investigate possible fraud at AdSurfDaily

The saga of shuttered Quincy company AdSurfDaily just took another twist. The self-styled Internet advertising network raided last month by federal authorities has been commanded to provide all of its documents and records to a federal grand jury by Sept. 9 on suspicion of fraud. That takes the faceoff between ASD owner Andy Bowdoin and state and federal authorities into the criminal arena. ASD already faces lawsuits from the state Attorney General's Office and U.S. Attorney's Office in the District of Columbia. A number of its estimated 75,000 members have recoiled at descriptions of the company as an illegal Ponzi scheme, saying that no one lost money until the Secret Service seized $93.5-million in cash and assets.

Grand jury to investigate possible fraud at AdSurfDaily 09/02/08 [Last modified: Tuesday, September 9, 2008 3:40pm]
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