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Commerce Commissioner orders “Profitable Sunrise,” to stop selling securities in Minnesota

Minnesota joins multiple states to take action against the international internet fraud with Minnesota ties

March 14, 2013

For Immediate Release:

SAINT PAUL, MN – Commerce Commissioner Mike Rothman ordered Profitable Sunrise and its operators, Roman Novak and Radoslav Novak, and Minnesotans William Nilsson (a/k/a Chad Nilsson) and Casey Dorian, today to cease and desist from selling securities in the State of Minnesota.

The Minnesota Department of Commerce, in conjunction with 19 jurisdictions throughout the United States and Canada, took coordinated action against Profitable Sunrise, an international entity allegedly operating an internet scheme to defraud investors.  The Commerce Department’s investigation found that two individuals in Minnesota, Chad Nilsson and Casey Dorian, were allegedly participating in the investment scheme, currently soliciting investors but are not licensed to sell securities in the state.

“We are taking strong action today to stop internet fraud from victimizing Minnesotans and duping them into a pyramid-like scheme to lose their life savings,” said Commissioner Mike Rothman. “Minnesota investors should not invest any of their money into Profitable Sunrise’s fraud.”

The Commerce Department’s Securities Section investigated Profitable Sunrise and found that while it claims to be registered and located in the United Kingdom, the multiple addresses on the company’s website appear to be false, with one listed as a construction site.  The domain name for Profitable Sunrise’s website is registered in the United Kingdom, yet the IP address for the website appears to be located on a server in Los Angeles. 

The investment model of Profitable Sunrise is characterized as the “charitable platform” for a money lending group.  This means that Profitable Sunrise claims to raise money from individual investors and in turn, provide short term loans to various businesses that pay three percent interest per day.  Investors would then earn a return of two percent “per business day” over an investment period of at minimum, 170 business days. The Commerce Department’s Order illustrates that for example, a $1000 investment would be worth $37,198 at the end of the 170 business days.

As an incentive for attracting additional investors, a three-tiered referral opportunity is extended to investors making it identical to a pyramid or multi-level sales approach. Groups have formed around the country including one located in Ohio run by an individual named Nanci Jo Frazer who claims to have 1,400 investors in her group known as the “NJF Global Group Community” to help fund her ministry, FocusUp Ministries. 

The Commerce Department Order states that Nillson and Dorian, along with investors like Frazer are utilizing internet marketing through websites, blogs, YouTube, and social media to sell their investment opportunity.  Further, the Order states that Dorian solicits investors by running free ads on websites, while Nilsson uses Facebook and other social sites.  Additionally, Profitable Sunrise operates its own webpage referencing religious scriptures on each page including a statement on the main page containing a statement implying a spiritual endorsement of the investment program.

“Consumers need to be very cautious of investment affinity fraud schemes both in person and on the internet that deliberately exploit and manipulate the trust of Minnesotans,” said Commissioner Mike Rothman.  “Unfortunately, fraudsters use the internet and other advertising to carry out their schemes, and I urge everyone to use vigilance. When a deal seems ‘too-good-to-be-true,’ then it is.  Stop and check it out thoroughly or contact the Commerce Department.”

On behalf of Minnesota investors, the Commerce Department ordered Profitable Sunrise, Dorion and Nilsson to cease and desist from engaging in unlicensed activity of any kind and offering or selling any securities or other types of investment products.  

If you have questions or want to report suspicious activity, the Commerce Department’s Consumer Help Line can be reached by phone at (651) 296-2488 or (800) 657-3602. Questions or consumer complaints related to securities can be sent by email to or by mail to the Minnesota Department of Commerce, 85 7th Place East, Suite 500, Saint Paul, MN 55101.

For more information on investments and securities or how to look up whether your investment advisor is licensed and investments registered with the State of Minnesota, visit the Minnesota Department of Commerce Securities Section online.