PatrickPretty.com

Tag: BBOM

  • WCM777 — In Pictures: (1) Send In $14,000, Get Back 35 Times That Amount (c. $500,000); (2) Launch Scheme, Buy A Golf Course And Invite Friends; (3) Rip Off Scenes From ‘Rocky Balboa’ And Pretend Sly Stallone Is On The Train

    These are screen shots from three different promotional videos or news releases for WCM777 online. The first reflects a claim that people who send $14,000 to WCM777 in a poor economy will fetch back $500,000, 35 times-plus the amount they sent in. This will be accomplished in 52 weeks through the rollover of earnings in 100-day cycles, according to the video. The text headline on the video page says this: “Investment WCM777 – The Power of 7 Units Raises over $ 500,000.” Below that, there is a link to Blog with the extension of “br,” which stands for Brazil.

    The second screen shot shows World Capital Market, the purported parent firm of WCM777, saying it bought the Glen Ivy golf course in California. Meanwhile, the third shot reflects a pitch for WCM777 that rips off more than two minutes of footage from Sylvester Stallone’s “Rocky Balboa” flick (2006) with its inspirational message and famous musical soundtrack from the six-film “Rocky” franchise, suggesting internationally famous movie star Stallone (or Rocky Balboa) would endorse WCM777.

    Unseen in the third screen shot is a text message that appeared below the video featuring Stallone. The message suggests that Brazil cannot block WCM777 or subject it to investigation, as it did with the BBOM, Priples and Telexfree “programs.”

    Here is that message in Portuguese: “A WCM777 é um banco de investimento que usa como estratégia de venda do seu produto o marketing de rede ou marketing multinível, o produto da empresa é a tecnologia em forma de nuvem a mesma usando pelo dropbox, Skydrive só que os lucros pór indicação é em dolar além do produto e a empresa ser sustentável o Brasil não pode bloqueá-la como fizeram com a BBOM, Priples e TELEXFREE. Junte-se ao Marketing de nível Profissional!”

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    On a side note, if the world of MLM investment schemes can rip off Sly Stallone and his fictional portrayal of the boxing world, why not the rip off the real world of the sport of badminton? BehindMLM.com is reporting that TelexFree appears to have appropriated the logo of the 2010 World Badminton Championship in Paris and made it its own.

  • Profitable Sunrise Facebook Site Again Used To Drive Business To TelexFree, An Alleged Pyramid Scheme

    Despite at least seven pyramid-scheme probes into TelexFree, an apparent affiliate of the MLM "program" was promoting it yesterday on Facebook -- on a site once used to lead cheers for the Profitable Sunrise scheme.
    Despite at least seven pyramid-scheme probes into TelexFree, an apparent affiliate of the MLM “program” was promoting it yesterday on Facebook — on a site once used to lead cheers for the Profitable Sunrise scheme.

    A Facebook cheerleading site for Profitable Sunrise — alleged in April by the SEC to have conducted an offering fraud that may have gathered tens of millions of dollars through offshore bank accounts — again is being used to drive dollars the TelexFree scheme. The same Facebook site has been used to drive cash to multiple schemes. Some of the schemes already have disappeared, taking unknown sums with them.

    “100% Guaranteed Get Paid To Post Telexfree Ads,” a post on the Profitable Sunrise site roared yesterday. There was no mention that at least seven pyramid-scheme probes into TelexFree are under way in Brazil.

    The TelexFree pitch on the Profitable Sunrise Facebook site is surrounded by claims that a “conference call” has been held with a purported Profitable Sunrise “Admin” and that a new call will be held today and that some sort of good news is in the offing.

    With respect to Profitable Sunrise, a post dated Aug. 21 declares that the U.S. government “Is The Crooked One.”

    In 2010, FINRA said that HYIP fraud schemes were spreading though social-media sites through which pitchmen seek to sanitize the scams by making them appear to be legitimate programs.

    “Whack-a-mole” also is an element in the scams: As soon as one scam is shut down, others pop up to replace it. The interconnectivity of the schemes and the willful blindness of many participants put banks and payment processors in the position of becoming warehouses for fraudulent proceeds, leading to questions about money-laundering, wire fraud and national security.

    In August 2012, the SEC said the Zeek Rewards MLM scheme had gathered at least $600 million through a combined Ponzi- and pyramid scheme. The final haul of Profitable Sunrise, which the SEC described in April 2013 as a scheme operated by an apparent ghost, is unknown.

    By some estimates, TelexFree has gathered $300 million or more. Some promoters have planted the seed that TelexFree was “authorized” by the U.S. government. The U.S. government does not authorize such schemes.

    BehindMLM.com is reporting today that investigators in Brazil have established promotional links between TelexFree and BBOM, another alleged fraud scheme operating in Brazil.