Tag: WCM777 receivership
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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…
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Judge Sets Hearing Date On WCM777 Receiver’s Claim That Attorney Linked To Phil Ming Xu Is Refusing To Return Millions And That ‘Xu Uses Nominees To Hold The Proceeds Of Fraud’
EDITOR’S NOTE: See related story from earlier today that outlines where about $2.133 million of the $5 million cited in the story below is being held for safe-keeping. The whereabouts of the balance is creating a mystery, according to court files. U.S. District Judge Christina A. Snyder has scheduled a hearing April 24 in Los…