The Superintendency of Banking and Investments of Peru has issued its ruling... Neither WCM777 nor TelexFree are allowed to receive public funds in Peru.
http://www.andina.com.pe/Espanol/noticia-empresas-wcm777-y-telexfree-no-estan-autorizados-para-captar-dinero-del-publico-486768.aspx#.Uq0tNPRDt8E (link in Spanish)
The article urges anyone who have remitted money to either entities operating illegally in Peru to contact the authorities immediately. Both phone numbers and email address have been provided and is at the link.
EDIT: Secondary link found
http://www.larepublica.pe/12-12-2013/advierten-que-wcm777-estafa-con-practica-piramidal-fraudulenta
Previously MLM Skeptic has noted that WCM777 in Peru was pushed by a pastor "David Lozano" and his "Ministry of the Light", which operates a radio station in addition to virtually non-stop events. This is very reminiscent of Nanci Jo Frasier of "Focus Up Ministries" in Ohio, USA, using a church to spread a scam (Profitable Sunrise ponzi scheme).
It took peru 3 weeks to determine that WCM777 is illegal. Not quite as fast as Colombia, who announced the investigation on Twitter and took only two weeks, but it's still plenty fast for a government. It took the US about 5 months to kick it out of Massachusetts, which prompted a full scale retreat back across the ocean to Hong Kong.
One can only hope the rest of the world follow suit QUICKLY, and bring Ming Xu to justice along with the rest of his top henchmen.
As for TelexFree, it's trying to shift out of Brazil having lost EVERY court battle it faced there, while trying to come up with new "compromises" and "ideas" that would never work, while attempting to infiltrate other countries and try to get them to join the US version, which is the SAME COMPANY, albeit more virtual. Apparently some perps have also registered a TelexFree in the UK.
If you see a WCM event being organized near you, consider notifying the local police to this webpage and to the links around the world that WCM777 is an illegal ponzi scheme.
[Thanks to PPBlog at patrickpretty.com for the heads up]
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http://www.andina.com.pe/Espanol/noticia-empresas-wcm777-y-telexfree-no-estan-autorizados-para-captar-dinero-del-publico-486768.aspx#.Uq0tNPRDt8E (link in Spanish)
The article urges anyone who have remitted money to either entities operating illegally in Peru to contact the authorities immediately. Both phone numbers and email address have been provided and is at the link.
EDIT: Secondary link found
http://www.larepublica.pe/12-12-2013/advierten-que-wcm777-estafa-con-practica-piramidal-fraudulenta
Previously MLM Skeptic has noted that WCM777 in Peru was pushed by a pastor "David Lozano" and his "Ministry of the Light", which operates a radio station in addition to virtually non-stop events. This is very reminiscent of Nanci Jo Frasier of "Focus Up Ministries" in Ohio, USA, using a church to spread a scam (Profitable Sunrise ponzi scheme).
It took peru 3 weeks to determine that WCM777 is illegal. Not quite as fast as Colombia, who announced the investigation on Twitter and took only two weeks, but it's still plenty fast for a government. It took the US about 5 months to kick it out of Massachusetts, which prompted a full scale retreat back across the ocean to Hong Kong.
One can only hope the rest of the world follow suit QUICKLY, and bring Ming Xu to justice along with the rest of his top henchmen.
As for TelexFree, it's trying to shift out of Brazil having lost EVERY court battle it faced there, while trying to come up with new "compromises" and "ideas" that would never work, while attempting to infiltrate other countries and try to get them to join the US version, which is the SAME COMPANY, albeit more virtual. Apparently some perps have also registered a TelexFree in the UK.
If you see a WCM event being organized near you, consider notifying the local police to this webpage and to the links around the world that WCM777 is an illegal ponzi scheme.
[Thanks to PPBlog at patrickpretty.com for the heads up]
