WCM777 and World Capital Market has been outlawed in California, as of January 8th, 2014, by order of California Commissioner of Business Oversight.
Order was issued originally on January 8th, 2014, appeared on official website on January 15th, 2014, and only noticed today by BehindMLM. Quoting from the end of the order:
Scammers who have previously recruited people into WCM777, are now trying to push them into other schemes... Such as Lucrazon, which had been previously identified by MLM Skeptic as being very similar to a busted scam 13 years ago called SkyBiz.
Any victims in California should send their complaint to California attorney general's office, to encourage the OAG to start possible criminal investigations.
Those not in California should send the complaint to equivalent units in your state's attorney general office, or your country's equivalent.
You can also send the complaint to the US Securities Exchange Commission.
And please don't forget to copy your complaint to Hong Kong Police... as WCM777 / Kingdom777 is in Hong Kong now.
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Order was issued originally on January 8th, 2014, appeared on official website on January 15th, 2014, and only noticed today by BehindMLM. Quoting from the end of the order:
Based upon the foregoing findings, the California Commissioner of Business Oversight is of the opinion that World Capital Market, Inc., WCM777, Inc., WCM777 Limited, Ming Xu, Zhi Liu and Harold Zapata engaged in the offer and sale of securities in the form of WCM777 membership units.
These securities have not been qualified under the California Corporate Securities Law of 1968, in violation of section 25110 of the Corporations Code.
Pursuant to section 25532 of the California Corporate Securities Law of 1968, World Capital Market, Inc., WCM777, Inc., WCM777 Limited, Ming Xu, Zhi Liu and Harold Zapata are hereby ordered to desist and refrain from the further offer or sale of securities in the State of California, including but not limited to WCM777 membership units, unless and until qualification has been made under the law or unless exempt.
The California Commissioner of Business Oversight is further of the opinion that World Capital Market, Inc., WCM777, Inc., WCM777 Limited, Ming Xu, Zhi Liu and Harold Zapata offered and sold securities in the form of WCM777 membership units, by means of written and oral communications including untrue statements of material fact and omission of material facts necessary to make the statements not misleading, in violation of section 25401 of the Corporations Code.
Pursuant to section 25532 of the California Corporate Securities Law of 1968, World Capital Market, Inc., WCM777, Inc., WCM777 Limited, Ming Xu, Zhi Liu and Harold Zapata are hereby ordered to desist and refrain from offering or selling any security in the State of California, by means of any written or oral communication which includes an untrue statement of a material fact or omits to state a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading.
This Order is necessary, in the public interest, for the protection of investors and consistent with the purposes, policies, and provisions of the Corporate Securities Law of 1968.
Dated: January 8, 2014
Sacramento, California
Scammers who have previously recruited people into WCM777, are now trying to push them into other schemes... Such as Lucrazon, which had been previously identified by MLM Skeptic as being very similar to a busted scam 13 years ago called SkyBiz.
Any victims in California should send their complaint to California attorney general's office, to encourage the OAG to start possible criminal investigations.
Those not in California should send the complaint to equivalent units in your state's attorney general office, or your country's equivalent.
You can also send the complaint to the US Securities Exchange Commission.
And please don't forget to copy your complaint to Hong Kong Police... as WCM777 / Kingdom777 is in Hong Kong now.
