WCM777

PP Blog Tag archives on references to "WCM777."

SEC: ViziNova ‘Program’ Was Pyramid Scheme And WCM777 Reload Scam Aimed At Asian-Americans And Hispanic-Americans

SEC: ViziNova 'Program' Was Pyramid Scheme And WCM777 Reload Scam Aimed At Asian-Americans And Hispanic-Americans

A “program” known as ViziNova was both a cross-border pyramid scheme and a reload scam aimed at victims of the WCM777 online debacle, the SEC says. VizaNova, which gathered at least $5 million, invaded the Asian-American and Hispanic-American communities and was partly focused at Brazilians, the SEC said. A PP Blog report in June 2014 […]

Bogus Magazine Cover Depicts Alleged Ponzi Schemer Charles Scoville Of Traffic Monsoon As 2016’s Best CEO

Bogus Magazine Cover Depicts Alleged Ponzi Schemer Charles Scoville Of Traffic Monsoon As 2016's Best CEO

DISCLOSURE: The PP Blog is a Google publisher. A bogus cover of Forbes magazine circulating on Facebook depicts SEC Ponzi defendant Charles Scoville of Traffic Monsoon as the “BEST” CEO of 2016 — all while misspelling his last name. The image, which falsely showcases the Forbes’ issue as a “LIMITED EDITION,” appears today on the […]

WCM777 Receiver Proposes To Disallow Huge Percentage Of Claims; Some ‘Leaders’ Allegedly ‘Perpetrated Their Own Side Scheme’

WCM777 Receiver Proposes To Disallow Huge Percentage Of Claims; Some 'Leaders' Allegedly 'Perpetrated Their Own Side Scheme'

Because we’re writing about the uber-bizarre HYIP wing of MLM/direct sales, we’ll emphasize at the beginning of this story that the WCM777’s receiver’s recommendation to a federal judge to disallow nearly 85 percent of filed claims DOES NOT MEAN she gets to pocket the money from the disallowed claims. HYIP hucksters are infamous for recklessly […]

SEC Declines Comment On Whether It Contacted Traffic Monsoon Pitchman Sunil Patel About Saturday Rally In England

SEC Declines Comment On Whether It Contacted Traffic Monsoon Pitchman Sunil Patel About Saturday Rally In England

Traffic Monsoon pitchman Sunil Patel has promised “security” at a “Revolution Day” rally Saturday in the area of Brighton Beach/Brighton Pier in England to advocate for the alleged Ponzi scheme. In a video post today on Facebook, Patel claimed the SEC has contacted him about the event. The SEC this afternoon declined to comment on […]

EDITORIAL: With Conviction Of Zeek’s Burks, Another Senior MLMer Faces Prospect Of Decades In Prison

EDITORIAL: With Conviction Of Zeek's Burks, Another Senior MLMer Faces Prospect Of Decades In Prison

UPDATED 4:31 P.M. EDT U.S.A. Zeek Rewards was always inexcusably horrid, fueled by serial willful blindness and the sort of practiced disingenuousness that props up so many MLM “programs.” In dollar volume, Zeek ended up being more than seven times larger than the $119 million AdSurfDaily MLM Ponzi scheme that put ASD operator Andy Bowdoin in federal […]

At Chicago Symposium, SEC Highlights Pyramid Scheme Task Force And Notes ‘Whack-A-Mole’ Nature Of Online Scams

At Chicago Symposium, SEC Highlights Pyramid Scheme Task Force And Notes 'Whack-A-Mole' Nature Of Online Scams

“These frauds are easily duplicated, and at times, we find ourselves playing ‘whack-a-mole,’ chasing the same set of fraudsters who, after feeling a bit of heat, simply close down one scheme and quickly set up a new one under a different name.” — Andrew Ceresney, SEC Enforcement Division director, March 2, 2016 EDITOR’S NOTE: Type […]

11,900 Claims Received In WCM777 Ponzi/Pyramid Case; Time To File Is Running Out

11,900 Claims Received In WCM777 Ponzi/Pyramid Case; Time To File Is Running Out

In the bizarre WCM777 Ponzi- and pyramid scheme, investors may not know what has become of Ming Xu and how much the equally bizarre Joseph Global Institute reportedly once operated by Xu and a former Mafia member continues to contribute to the vomitous madness. What is known is that about 11,900 claimants have come forward. The number is […]

U.S. Marshals Service Allegedly Seizes Gun From Accused USFIA Pyramid-Schemer

U.S. Marshals Service Allegedly Seizes Gun From Accused USFIA Pyramid-Schemer

“Initially, Defendant Steve Chen aka Li Chen (“Chen”) was not present at the Company Offices. Shortly after the Receiver arrived and the U.S. Marshals secured the Company Offices, Chen arrived. He was wearing a security guard uniform and carried a loaded gun, which was not concealed. The U.S. Marshals seized the weapon and also found […]

SPECIAL REPORT: Accused WCM777 Ponzi Schemer Ming Xu Expressed Concern About Being Harmed, Says He Was Cooperating With Government; Purported Texas University Claims It Has Absorbed The Bizarre ‘Joseph Global Institute,’ Raising New Questions; WCM777 Claims Deadline Extended To Dec. 24

SPECIAL REPORT: Accused WCM777 Ponzi Schemer Ming Xu Expressed Concern About Being Harmed, Says He Was Cooperating With Government; Purported Texas University Claims It Has Absorbed The Bizarre 'Joseph Global Institute,' Raising New Questions; WCM777 Claims Deadline Extended To Dec. 24

EDITOR’S NOTE: The story about Phil Ming Xu’s asserted cooperation with the government appears below the subhead. We’ll lead with the news of extension of the claims deadline for WCM777 victims. If you’re a victim of the World Capital Market/WCM777 Ponzi- and pyramid scam shut down by the SEC last year, you now have until […]

REMINDER: Claims-Filing Deadline In WCM777 Ponzi- And Pyramid Case Is Nov. 9

REMINDER: Claims-Filing Deadline In WCM777 Ponzi- And Pyramid Case Is Nov. 9

Take note: Victims of the WCM777 MLM “program” must file a claim by Monday, Nov. 9, a little more than three weeks from today. The website of WCM777 receiver Krista L. Freitag now includes a countdown timer to the filing deadline. At the time of this post, only 23 days remain to file claims. This is the […]

SPECIAL REPORT: MyAdvertisingPays, Zeek Figures Sued In TelexFree Class Action; AdSurfDaily And Zeek Cases Cited Repeatedly; Alleged ‘Private Jet’ Also Referenced In 200-Page Complaint

SPECIAL REPORT: MyAdvertisingPays, Zeek Figures Sued In TelexFree Class Action; AdSurfDaily And Zeek Cases Cited Repeatedly; Alleged 'Private Jet' Also Referenced In 200-Page Complaint

EDITOR’S NOTE: Certain reports by the PP Blog that are available to any person with an Internet connection are referenced in a consolidated, amended prospective class-action complaint that makes claims against various defendants with an alleged association with TelexFree. Information from other publicly available sites, including BehindMLM.com, RealScam.com and others, also is referenced. The purpose […]