Philip Reitcheck | greentrees

Profitable Sunrise Under SEC Review

Mar 6th 2013 at 3:16 PM

If you remembered, I wrote a blog review on the Profitable Sunrise program back on Nov. 16th, 2012 and at the time I reported a RED flag with this program. 

And it was the fact that the company does NOT provide any 1099's to its members, even though they reported that they have been loaning money to US businesses for the last 6 years and as such were breaking US IRS laws.  I also stated that my doing such the US government would surely seized their company.

By me reporting this RED flag and informing people to not invest into Profitable Sunrise, I received a large number of comments on my Profitable Sunrise blog review.   Most were by Profitable Sunrise affiliates who told me that I was "wrong" and I had NO right to express negative options about a program that I was not even a member of.

Well everybody, the next paragraph is taken from the NC Secretary of State publication which you can read in full at the above posted link.

On February 27, 2013, the Securities Division of the North Carolina Department of the Secretary of State issued a Temporary Order to Cease and Desist to Roman Novak, Radoslav Novak, and Inter Reef LTD d/b/a Profitable Sunrise.

Profitable Sunrise now has 30 days to request a hearing so that they can ‘register’ their company as recognized ‘dealers’ or ‘salesman’ of securities. If they don’t request a hearing within 30 days than the NC SEC judgment will become final.  Now I really think that Profitable Sunrise will protest just because they claim that their model is not securities, but the fact remains that they are not following IRS income laws and this will come to a head within the next two months.

With this current Order of Cease and Desist order, it will only be time before the US SEC will get involved. So my advise for you, if you have any money invested in Profitable Sunrise, is that now is the time to take as much as you can out before it is totally shut down. This is the beginning of the end for Profitable Sunrise, and it will be soon be know-ed as the Un-profitable Sunset.

Your Friend,
Philip Reitcheck

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