World Capital Market Inc.

PP Blog Tag archives on references to "World Capital Market Inc.."

DEVELOPING STORY: Phil Ming Xu Of WCM777 May Be Under Arrest In China

DEVELOPING STORY: Phil Ming Xu Of WCM777 May Be Under Arrest In China

UPDATED 3:11 P.M. EDT U.S.A. A report dated today at ShanghaiDaily.com says an individual “surnamed Xu” and associated with “World Capital Market Inc.” is “now in custody” after a police action against a “pyramid scheme” in China. The PP Blog has contacted the U.S. Securities and Exchange Commission to determine if the person reportedly under […]

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 […]

BULLETIN: Receiver For WCM777 MLM ‘Program’ Says California Lobbying Firm Received $750,000

BULLETIN: Receiver For WCM777 MLM 'Program' Says California Lobbying Firm Received $750,000

BULLETIN: (7th update 6:59 p.m. EDT U.S.A.) The court-appointed receiver in the SEC’s WCM777 pyramid- and Ponzi-scheme case says she is seeking court approval to pursue claims against a California lobbying firm that allegedly received $750,000 from accused scammer Ming Xu and performed no work. Some WCM777 MLM affiliates claimed $14,000 sent to the “program” […]

BULLETIN: WCM777 Receiver Puts End To ‘New Multi-Level Marketing Scheme Which Was Being Developed’ In California Warehouse And ‘Involved Numerous Of The Same Defendants And Personnel’; Receiver Also Seeks Freeze Of Attorney’s Bank Accounts — Plus, A Ponzi Fish Story

BULLETIN: WCM777 Receiver Puts End To 'New Multi-Level Marketing Scheme Which Was Being Developed' In California Warehouse And 'Involved Numerous Of The Same Defendants And Personnel'; Receiver Also Seeks Freeze Of Attorney's Bank Accounts -- Plus, A Ponzi Fish Story

BULLETIN: (UPDATED 11:38 P.M. EDT U.S.A.) The court-appointed receiver in the WCM777 Ponzi- and pyramid case says in court filings that she has stopped a “new multi-level marketing scheme” that had been under development by WCM777 in a warehouse in El Monte, Calif. WCM777, alleged by the SEC to have gathered about $65 million, purportedly […]

URGENT >> BULLETIN >> MOVING: SEC Takes Down WCM777; Says Purported Opportunity Is ‘Worldwide Pyramid Scheme,’ Ponzi And Offering Fraud; Federal Judge Signs Asset Freeze

URGENT >> BULLETIN >> MOVING: SEC Takes Down WCM777; Says Purported Opportunity Is 'Worldwide Pyramid Scheme,' Ponzi And Offering Fraud; Federal Judge Signs Asset Freeze

URGENT >> BULLETIN >> MOVING: (16th update 5:42 p.m. EDT U.S.A.) The SEC has gone to federal court in Los Angeles, alleging that the WCM777 “program” is a “worldwide” pyramid scheme, a Ponzi scheme and an offering fraud that targeted Asian and Latino communities and gathered more than $65 million. A federal judge has granted […]

BULLETIN: California Asks Residents Who Bought Into WCM777 To Contact Department Of Business Oversight ‘Immediately’; State Says Thousands Of Locals Bought Into Scam

BULLETIN: California Asks Residents Who Bought Into WCM777 To Contact Department Of Business Oversight 'Immediately'; State Says Thousands Of Locals Bought Into Scam

BULLETIN: (UPDATED 6:38 P.M. ET U.S.A.) The state of California, which last month issued a Desist and Refrain order against the WCM777 MLM “program” and called it an “investment scam,” now is asking residents who invested in WCM777 to contact the Department of Business Oversight “immediately.” At least 5,500 Californians plowed money into the scheme, […]

BULLETIN: California Calls WCM777 A ‘Scam,’ Issues Desist And Refrain Order That Names Executives And YouTube Pitchman

BULLETIN: California Calls WCM777 A 'Scam,' Issues Desist And Refrain Order That Names Executives And YouTube Pitchman

BULLETIN: (Updated 10:36 a.m. ET U.S.A.) The state of California has called the WCM777 MLM “program” a “scam” and issued a Desist and Refrain Order that bans the enterprise in the state. The Department of Business Oversight (DBO) has issued a companion Consumer Alert and is “strongly” encouraging California investors to file a formal complaint. […]

URGENT >> BULLETIN >> MOVING: Massachusetts Halts WCM777, Says It Was Selling Unregistered Securities And Targeting Brazilian Community

URGENT >> BULLETIN >> MOVING: Massachusetts Halts WCM777, Says It Was Selling Unregistered Securities And Targeting Brazilian Community

URGENT >> BULLETIN >> MOVING: (10th Update 9:28 p.m. ET U.S.A.) Massachusetts has halted the WCM777 multilevel marketing scheme, saying it was associated with entities in Hong Kong, the British Virgin Islands and the United States and selling unregistered securities. In Massachusetts, the state said, the scheme was targeting the Brazilian community. In a filing […]