BOSTON GLOBE: Massachusetts Issues Subpoena To Wings Network ‘Program’

cautionflag3rd Update 12:58 P.M. EDT U.S.A. The office of Massachusetts Commonwealth Secretary William Galvin has issued a subpoena to Wings Network, the Boston Globe is reporting.

From the Globe (italics added):

“We attended one of their events,’’ Galvin said. “We had heard from some investors who, in light of TelexFree, had become concerned — and we’re concerned.’’

Galvin heads the Massachusetts Securities Division, which brought civil fraud charges against TelexFree last month after an investigation that lasted for weeks. Galvin’s investigators also brought fraud allegations against the WCM777 “program” in November.

Galvin’s office alleged that TelexFree was a combined Ponzi- and pyramid scheme that had gathered more than $1.2 billion.

Both TelexFree and WCM777 were targeted at the Brazilian community in Massachusetts, according to filings. In addition, the “programs” targeted speakers of Spanish and Chinese. The U.S. Securities and Exchange Commission (SEC) also filed charges against the “programs.”

No charges have been brought against Wings Network. The Massachusetts probe is ongoing, the Globe reports.

Like WCM777, Wings Network says it is in the cloud-computing business. Like TelexFree, Wings Network says it’s involved in “apps.” TelexFree also pushed a VOIP product.

Galvin’s office issued a warning on pyramid schemes last month, saying that investigators have encountered “recent schemes” involving “products related to internet services, mobile marketing platforms, app sales, cloud computing services, and voice-over-internet applications.”

The HYIP world is infamous for reload schemes in which victims of previous scams are targeted again by purveyors of purported emerging “opportunities.”

There is a Wings Network outlet in Framingham, Mass., according to a photo in the Globe.

The Framingham area appears to have been a TelexFree stronghold.

Like TelexFree, AdSurfDaily, Zeek Rewards, Profitable Sunrise and other schemes that have come under regulatory scrutinty, Wings Network has a presence on well-known Ponzi-scheme boards such as TalkGold and MoneyMakerGroup.

Also see March 22, 2014, PP Blog story on the interconnectivity of schemes .

 

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4 Responses to “BOSTON GLOBE: Massachusetts Issues Subpoena To Wings Network ‘Program’”

  1. May 14 update: This message is now appearing on Wingsnetwork.com when accessed from the United States:

    ——————————————————–

    Notification

    You may be aware that the Massachusetts authorities recently filed a request of information to understand WINGS NETWORK operations e our company is fully cooperating with those authorities presenting all the requested and comprehensive information.

    No wrong doing has been alleged. We want to inform you that WINGS NETWORK is fully committed to operating legally in this country and is itself conducting its own internal investigation in a pro active effort to ensure full compliant with all state and federal laws in the USA.

    We want to inform you that WINGS NETWORK has decided to suspend operations in the USA for the time being. It’s important to note that this action has been taken by WINGS NETWORK itself, not imposed by the regulatory authorities.

    WINGS NETWORKS looks forward to operating a prosperous, legal and ethical business in the USA for years to come. We know that you will have many questions about this decision and we pledge to provide more details in the coming days. In the meantime the products you have previously purchased will continue available for your usage.

    We recommend for all members within the United States to postpone all further meetings until advised otherwise. In addition it will be necessary to temporarily suspend the registration of new members in the United States.

    We will be providing more information to you very soon.

    Counsel department WINGS NETWORK.

    ——————————————————–

    Oz at BehindMLM.com is working on a story; I’ll post the URL when it become available.

    Patrick

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  2. i just want to know how can i get my money back + all the pp that join this network

      (Quote)

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