Anthony Renfrow has pleaded guilty in a California court to one count of conspiracy to commit wire fraud. During the plea he admitted to making claims to attempt to convince people to pay to become what he called ‘autosurf investors.’ He said he knew the claims were fraudulent.
The issue is related to the site 14DailyPlus.com in which investors paid a set membership fee and they were then promised a 14% daily return when they clicked on ads for a set amount of time each day. The site claimed that they took all the invested money from those who signed up and purchased ad units online for ‘Fortune-500 type’ companies.
Renfrow kept the fraud going as long as possible by holding conference calls with the investors to help convince them that the investments were being made and that they were earning their returns as promised. In reality, however, the investments were not there and the 14% returns were entirely falsified.
Renfrow is the founder of 14DailyPlus.com, which began in March of 2006. His co-defendant, William Fox, is also awaiting trial for his role as the recruiter and promoter of the site.
The sentencing for this case has not yet occurred, though Renfrow will face a maximum of 20 years in federal prison in addition to a potential fine up to $250,000. He is also being investigated currently for his role in an Iraqi Dinar money scheme.
