also previously unnoticed Jan 31st
Alert from New Brunswick's FCNB
Attachment 7196
URL: FINANCIAL AND CONSUMER SERVICES COMMISSION - Newsroll
Printable View
also previously unnoticed Jan 31st
Alert from New Brunswick's FCNB
Attachment 7196
URL: FINANCIAL AND CONSUMER SERVICES COMMISSION - Newsroll
Latest chapter in the saga of Dr Phil Ming Xus' scamming ways:
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Dr Phil Ming Xu @ CNPEG on Twitter
anybody who believes THAT will believe anything
Bet you he found a straw buyer like that kid down in LA that claims to be Kingdom 777's "President". hahaha. Voice actor. Hahahahaha.
This notice has appeared on the WCM777 Pay website
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I'm thinking there won't be many people surprised the inevitable has happened:
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Courthouse News Services
SEC Complaint: http://www.sec.gov/litigation/compla...-pr2014-60.pdf
I told those WCM idiots not to pull Fed's leg. they did not listen, now will have to do time.
Receiver appointed:
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EThree Advisors
For those who wonder why investigations appear to take so long and for those who question whether or not banks file Suspicious Activity Reports as required by law comes this interesting information from the SEC complaint:
The SEC has listed 57 known banks accounts associated with WCM777, which means it has been working with banks for an extended period of time before filing the complaint:
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The receiver for World Capital Market has released her Receivers Second report
Some highlights:
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Interesting that while 2 'kingdom' names are mentioned in her list, she has never mentioned 'kingdom777'.
The SEC has obtained a Judgment as to Defendant Ming Xu a/k/a Phil Ming Xu
In which Ming Xu, while neither admitting nor denying guilt (surprise, surprise) is: "permanently restrained and enjoined from violating, directly or indirectly” multiple sections of the Securities Exchange Act"
Ming Xu will also "pay disgorgement of ill-gotten gains, prejudgment interest thereon, and a civil penalty."
With the receiver already laying claim to much of the proceeds of the WCM777 fraud and her stated intention of identifying and recovering as many WCM777 assets as is possible, the disgorgement, interest and civil penalties will leave a sizeable hole in Ming Xus' retirement fund.
It should be remembered the SEC can only prefer civil charges, with civil penalties i.e. fines and disgorgement.
It cannot impose criminal charges nor sanctions, such as imprisonment.
Whether or not another agency prefers criminal charges, with criminal penalties remains to be seen.
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It gets better. Ming Xu's Chinese blog (Sina Weibo) says that he'll pay off everybody's losses by converting them all into "KingdomLoveCoins", something like a Bitcoin, but better.
??_??_???? (in Chinese, partial translation available at A (MLM) Skeptic: News Update 07-SEP-2014: Herbalife problem in Norway; TelexFree Brazil Exposed; Zeek, TelexFree, and WCM ponzi updates )
The receiver for WCM777, Krista Freitag has this week released October 1, 2014 Notice to Investors on the World Capital Market Receivership website
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In another bizarre twist in an already bizarre story, Ms Krista Frietag has released details of a recently filed Receiver’s Ex Parte Application for Order to Sell Additional Personal Property in which she alleges Phil Ming Xu improperly transferred money to his sister, Sue Wang.
Some highlights:
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The complete document and accompanying declarations can be downloaded from the World Capital Receivership website
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World Capital Markets receivership
NB: Sue Wang is Xu's sister, owns MaNa Fashion, is corporate secretary of JJ Sparkles, Inc., and signed checks written on the bank accounts of JJ Sparkles and Yuanhao.
Jianjun Wang is the president of JJ Sparkles.
Xiaomei Deng is Xu and Sue Wang's mother.
Another successful result for the receiver and creditors of the failed WCM777 ponzi:
http://imageshack.com/a/img540/4649/eVR4Tg.jpg
SEC vs WCM disgorgement notice
Charles Messina = WCM inhouse legal counsel
Internet Marketing Ventures (IMV) = principal Gary Messina, nephew of Charles Messina
http://imageshack.com/a/img631/1621/PKOXK3.jpg
SEC vs PMX Jewels disgorgement order
PMX Jewels, Limited, is a rough diamond jewel merchant in Hong Kong
On August 7, 2017 the court appointed receiver, Krista Freitag released the Receivers' fourteenth interim report
Attachment 20226
Some highlights:
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