REPORTS: Alleged Criminality At WCM777; Government Of Peru Shuts Down Office

By 3:43 pm Jan 14, 2014

wcm777UPDATED 11:39 P.M. ET U.S.A. There are reports today in Peruvian media that the government of Peru has shut down an office of the purported WCM777 “opportunity” and that criminality occurred. It is unclear from early reports whether arrests were made.

See story in Spanish at LaRepublica.pe.

See English translation by Google Translate.

The regulatory authority in Peru is the Superintendency of Banking and Insurance.

WCM777, which is encountering regulatory scrutiny in multiple nations, recently changed its name to Kingdom777, according to BehindMLM.com.

Peru issued an Alert on WCM777 in December, saying the firm was collecting money unlawfully in the country.

As the PP Blog reported in November 2013, some promos for WCM777 claimed investors willing to plunk down $14,000 received a dividend of 35 times their initial investment over the course of a year.

Massachusetts halted WCM777 in November, saying the program was being targeted at Brazilian Americans and was selling unregistered securities.

On Nov. 21, the PP Blog reported that WCM777 may have ties to The Way TV and Media for Christ, which have been linked to a film production known as “Innocence of Muslims.” The trailer of the film reportedly sparked violence across the Middle East in 2012.

Categories: Alleged Ponzi Schemes, The Economy, Uncategorized
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4 Responses to “REPORTS: Alleged Criminality At WCM777; Government Of Peru Shuts Down Office”

  1. Lil Ol' Radical Me
    Jan 15, 2014 at 6:47 am |

    Wow. They dont waste time in Peru. They have invited all people affected by WCM777 to report it to the police and/or the Ministry, giving telephone number and email.

    “Los afectados también pueden presentar sus denuncias a la SBS, llamando a los teléfonos 0-800-10840 (Línea gratuita a nivel nacional) o 01-200-1930; o vía el correo electrónico informalidad@sbs.gob.pe !”

    Nice

  2. UPDATE: In Aftermath Of Police Raid On WCM777 Venue In Peru, ‘Dr. Phil Ming Xu’ Declares Love For The People — On Letterhead Of Suspended California Company
    Jan 17, 2014 at 5:27 pm |

    […] are getting stranger at WCM777: After a police raid this week on the “program” in Peru, the purported head of WCM777 has declared his love for the […]

  3. PatrickPretty: In Aftermath Of Police Raid On WCM777 Venue In Peru, ‘Dr. Phil Ming Xu’ Declares Love For The People — On Letterhead Of Suspended California Company | The Paper
    Jan 17, 2014 at 10:04 pm |

    […] are getting stranger at WCM777: After a police raid this week on the “program” in Peru, the purported head of WCM777 has declared his love for the Peruvian […]

  4. BULLETIN: California Asks Residents Who Bought Into WCM777 To Contact Department Of Business Oversight ‘Immediately’; State Says Thousands Of Locals Bought Into Scam
    Feb 14, 2014 at 10:00 am |

    […] raided a WCM777 outlet in Peru last month. At least one Peruvian TV station showed snippets of Zapata’s YouTube pitch as part of its […]

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