Churches May Be At Risk From WCM777 ‘Program’; Congregants In Rialto, Calif., May Have Been Swept Into Bizarre Cross-Border Scheme; YouTube Pitchman Says Venture Will ‘Go Into Selling Shares, Pre-IPOs’; Craigslist Flags Ad In Atlanta; Siemens AG Says ‘No Form Of Cooperation Exists’ Between Itself ‘And The World Capital Market Company’
Siemens AG, the German engineering and electronics conglomerate, has taken the unusual step of issuing an “official statement” on its public website that “no form of cooperation exists between Siemens and the World Capital Market company and its affiliated businesses.” The statement appeared yesterday and was announced on Twitter, after the multibillion-dollar firm had received repeated tweets inquiring about its purported ties to WCM and WCM-related web entities, including an MLM “program” known as WCM777.
Among other things, WCM and its MLM affiliates have asserted that Siemens, beginning in 2012, assisted WCM in the development of cloud-computing products. Siemens, however, said it sold the business unit to which WCM and affiliates have referred in 2011.
“The World Capital Market (WCM/WCM7/WCM777) company is not entitled to use the Siemens name or trademark,” Siemens said.
It added, “In order to help other investors avoid making any investments based on false assumptions, we would urge you to pass on this information.”
The WCM entities may be operating out of Hong Kong.
Siemens did not say whether it had received any inquiries from law enforcement about the claims made by WCM and its apparent worldwide group of MLM promoters, some of whom have claimed WCM has business ties to other famous companies, perhaps particularly companies in the hospitality industry. News about the Siemens statement appeared on the MLM Skeptic antiscam Blog.
Based on its research, the PP Blog is reporting today that text below a YouTube video dated Aug. 18, 2013, references Siemens as a technology supplier to the WCM777 MLM “program” and further claims that WCM has provided loans totaling in excess of $1 billion to nine jewels of American business, including at least two that trade on NASDAQ. One concern, a national restaurant chain, was said to have borrowed $908 million from WCM. Another concern, a convenience-store chain founded in Texas, was said to have borrowed $75 million. A famous American toy company that trades on NASDAQ and is an S&P 100 component was said to have borrowed $50 million.
Five hotel chains with famous flags were said to have borrowed a cumulative sum in excess of $134 million. A famous soft-drink concern was said to have borrowed $60 million. The YouTube text pitch further asserts: “World Capital Market (WCM) is the parent company for WCM777. WCM is a private bank managing and lending money to over 700 institutions.”
But if WCM is indeed a “private bank,” it’s apparently one that has no concerns about the privacy of its own borrowers if MLM money is to be made. WCM777 affiliates now are parading in Stepfordian fashion around the Internet and claiming not only to know the identities of WCM’s famous borrowers, but also to know precisely how much they borrowed.
Assuming any of the purported deals actually exist and that anything about WCM is real, the precedent has been set for any future WCM customer to face repeated privacy invasions and repeated episodes of brand leeching as part of bids to legitimize an MLM “program.” Such incidents would be untenable for any enterprise that values its brand and marketplace reputation.
In the video pitch, the WCM promoter suggested that prospects should ignore lower affiliate levels and buy in at $1,999 because the position would pay $3,200 in 100 days. He also suggested that reentry at the $1,999 level would cost only $20 out-of-pocket and that the position would continue to return $3,200 every 100 days.
“Most people are coming in with three units, seven units, 15 units and above,” the narrator said.
“I just had some[one] wire me from Mexico . . . $6,000 for three units,” the narrator said. “I’m signing up another person [in] [Florida?] for six units as well — excuse me, three units as well — another $6,000. And this is just going nuts.”
A “kickoff meeting” was being held in Mexico for WCM777, the narrator said. (Based on the date of the video, this event might have been held in late August, perhaps on the same date as a companion event at a church in California. See below.)
Each of WCM’s famous purported borrowers now may face undeserved embarrassment or a PR problem because an MLMer trying to sell the WCM777 “program” on YouTube is claiming that they borrowed a combined sum of more than $1 billion from the purported parent company of an enterprise now under investigation in Colombia, amid pyramid scheme allegations.
What’s potentially worse is that the YouTube pitchmen claimed in a promo for WCM777 that he had “a presentation in Rialto, California, with a church of 500 people where the entire church is going to be there, Spanish church in Rialto.”
He could not attend the kickoff event in Mexico because it conflicted with the church event in Rialto, the narrator said.
Rialto is a Southeast California community of about 100,000 in San Bernardino County. In 2010, the PP Blog interviewed a 64-year-old woman from San Bernardino County. She’d been ripped off of $5,300 by the Noobing MLM scam operating online. The woman was deaf.
Like similar schemes, WCM777 almost certainly will bring securities concerns into play. “Programs” such as Zeek Rewards, for example, have been accused by the SEC of securities fraud and selling unregistered securities. Based on the YouTube promoter’s claims that WCM is venturing “into selling shares” and “pre-IPOs,” those concerns may only become heightened.
WCM also reportedly permits members to transfer money or the equivalent of money through an in-house system, which raises questions about whether it is setting the stage for money-laundering to occur. Colombia long has had problems with narcotics traffickers. Colombian MLMer David Murcia was extradited to the United States in 2010 to face charges that his D.M.G. Group of companies laundered narcotics cash in the United States. He later was sentenced to nine years in federal prison. Murcia also faces 30 years behind bars in Colombia.
U.S. prosecutors pointedly called DMG “a vehicle for a multi-level marketing scheme.” Participants were told to buy prepaid debit cards that operated on a points system and would permit them to buy electronics and other merchandise at DMG retail stores and enable them to get back 100 percent of what they paid in and perhaps more.
WCM777 also operates a points system and is tied to something called the “Kingdom Card” highlighted at a site known as 1And300.com.
The PP Blog has observed at least one instance in which Craigslist pulled an ad for WCM in Atlanta. Ads in other American communities, including Dallas and Orange County, Calif., continue to appear.
In addition to making a veiled reference to Siemens, the ad screams in all caps: “WHAT IF I TOLD YOU I CAN SHOW YOU A WAY TO TAKE SOME OF YOUR MONEY RIGHT NOW AND PUT IT TO WORK AS AN INVESTMENT AND TURN IT IN A FIRM PROFIT AMOUNT YOU CAN GET OVER AND OVER AGAIN EVERY 100 DAYS. NOT JUST MAKE MONEY WITH YOUR MONEY BUT ALSO HAVE NO SALES TO DO AND YOU WON’T HAVE NO NEED TO RECRUIT PEOPLE. . .?”
WCM, according to the Dallas ad, stands for “WE CREATE MARKET.”
Quick note: Like Zeek, ads for WCM are appearing on classified-ads sites.
Backpage.com snippets from several cities follow:
Jerusalem (in an ad that also references Tel Aviv):
“This is NOT a HYIP program, but this is a passive program where you can earn income 7 different ways.”
Boston:
“Most of the other plans will not allow you to withdraw your money every day. This is NOT a HYIP program and 4 of the 7 plans are passive.”
A Backpage ad in Vera Cruz appears to include a link that rotates to a leads-collection page.
Acapulco (in an ad that describes WCM an an entity that “manages assets” for Siemens and other famous companies):
“WCM777 has 5 opportunities available for you to earn income. There is no sponsoring or referring required, but you can if you so choose.”
A Backpage ad for Hermosillo also appears to rotate to a leads-capture page.
There also appears to be a Backpage ad for Copenhagen, using the little-used spelling of “Kobenhavn.”
Snippet:
“I’ll have to remember that 7 Fomas gains being filled by 2 matrices ORDER OF ARRIVAL ….. So do not waste TIME!!”
Patrick
From iadverts.in:
Ad (in Spanish) targeted at Hyderabad prospects appears to rotate to a leads-capture page.
Ad targeted at Pune prospects is in English and contends WCM is not an HYIP.
Ad targeted at Bhubaneswar prospects appears to rotate to leads-capture page.
Patrick
Quick note: Have seen another YouTube video. It’s by a different promoter, but is at least as outrageous as the video referenced in the story above.
The second video — like the one described in the story above — again spills the beans on major American companies that supposedly have borrowed large sums of money from WCM. It also positions Siemens as a WCM business partner.
The narrator appears to be trying to coax viewers into purchasing seven “units” for $14,000. Various earnings extrapolations are used. It’s confusing. One of the suggestions seems to be that a person who joins somehow can earn a return of 15 percent overnight.
Meanwhile, the video claims that 3 MILLION people have joined WCM777. The opportunity is described as one owned by a bank interested in helping MLMers get rich. The seed also is planted that the company will be trading on NASDAQ in the near future and that people who get in now will clean up.
A comparison is made to how janitors at Google became filthy rich by being in the right place at the right time and having the ability to spot a winner.
The backdrop of the video is a world map — rather like the backdrop a TV anchor might use.
Patrick
The latest stupid WCM videos cuts a video by WilL Smith the actor about entrepreneurial spirit and linked it with investing in WCM. WTF?!
Is the pitchmen was saying that WCM will soon sell shares, this would be a copycat of the Ventone scam Ming Xu and his buddy Zhi Liu helped facilitate out of China.
http://amlmskeptic.blogspot.com/2013/10/breaking-news-wcm777-ceo-zhi-liu-linked.html
Hello K. Chang,
Please use the Contact Form and send a link to me that points to this Will Smith video.
If you’re unable to do that, please leave a comment in this thread that describes the video and your impression of it.
The Club Asteria scammers once tried to plant the seed that Will Smith was on the Club Asteria team.
https://patrickpretty.com/2011/09/09/image-of-famed-actor-and-grammy-winner-will-smith-appears-in-club-asteria-house-organ-just-above-join-now-button-no-immediate-comment-from-his-publicist/
https://patrickpretty.com/2011/09/18/bulletin-club-asteria-reconfigures-e-magazine-to-remove-all-content-related-to-will-smith-famed-entertainers-likeness-appeared-above-join-now-button/
Hell, not even Mahatma Gandhi was out of play for Club Asteria.
https://patrickpretty.com/2011/10/18/incredible-month-after-will-smith-debacle-club-asteria-turns-to-mahatma-gandhi-to-drive-traffic-and-misspells-name-of-assassinated-champion-of-freedom-while-turning-him-into-a-pitchman-house-org/
Patrick
MY PERSONAL PREDICTION: Pretty soon you’ll see Ming Xu that he never said he made loans to those big name companies like hotel chains and Dennys and such. He was merely INVOLVED (but not as WCM) when those deals took place.
One of his buddies (Vantone scam scapegoat top rep) in China was a manager at China Galaxy Securities. I predict that Ming Xu sat in on some meetings and claimed credit/involvement.
Here’s original Chinese report, and my translation:
???????????????????????????????????????????????????????????????????????????“?????????????????????????????????????????????????”????????(??)?????????????
According to reporter’s investigation, Ming Xu is CEO of “US WangTong Investment Bank” (worldcapitalmarket.com) registered in California. Reporter came to the office in China, and found WangTong Website’s “top representative in China” Ang Zhao. Zhao however, replied “Top rep? Just a friend. I’m not employed by him. He asked me and asked me, and I acquiesced, and put his company name out.” Zhao is a manager at China Galaxy Investments.
http://amlmskeptic.blogspot.com/2013/10/breaking-news-old-chinese-news-from.html
No need, it’s right here:
It’s basically the same stuff Club Asteria pulled: a Smith interview with Steve Kroft (60 Minutes) and Charlie Rose repurposed as a sales pitch for an MLM.
One of Frederick Mann’s scams did this, only Frederick’s dream team of scammers used a video of Warren Buffett.
Patrick
It turns out to be just this video, re-hard-subed in Spanish
Which is recut from this one, it seems:
https://www.youtube.com/watch?v=aaRqr7oQ2bo
Dang, there sure are a lot of copycats.
I’ve provided an update on this link between WCM777 and Club Asteria on my blog:
http://amlmskeptic.blogspot.com/2013/10/wcm777-affiliate-steals-will-smith.html
I doubt the WCM777 guy knew about Club Asteria though. It’s probably “dumb minds think alike”.
Now they’re passing around that Bill Clinton thanking DSA video! :-P
According to Hoovers.com (a trusted source of company financial info):
World Capital Market annual revenue is $0.5M.
WCM777 claims WCM is a $5B company.
[…] Steve Wozniak. Meanwhile, WCM777 promoters rushed to YouTube and other social-media sites to claim that WCM777 had ties to famous businesses such as Siemens and a host of hospitality companies with famous […]