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Thread: WCM may be much WORSE than we ever suspected

  1. #1
    kschang is offline Senior Scambuster
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    WCM may be much WORSE than we ever suspected

    WCM777 is a ponzi, we knew that (see BehindMLM)

    Now we're finding that not only Ming Xu embellished his resume on LinkedIn (then confirmed it on Twitter)

    A MLM Skeptic: BREAKING NEWS: WCM Ming Xu admits on Twitter that he faked his resume on LinkedIn

    He was linked to Olympic fundraising fraud in 2007

    A MLM Skeptic: BREAKING NEWS: Old Chinese News From 2007 Revealed Ming Xu had been defrauding Americans back in 2007!

    And his buddy, head of WCM777, Zhi Liu, is head of US branch of a vast stock scam in China called Vantone.

    A MLM Skeptic: BREAKING NEWS: WCM777 CEO Zhi Liu Linked to Vantone Stock Scam in China
    ---
    A MLM Skeptic (not a Cynic) covering scams, critical thinking, and psychology
    http://amlmskeptic.blogspot.com

  2. #2
    PPBlog is offline Senior Member
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    Re: WCM may be much WORSE than we ever suspected

    Quote Originally Posted by kschang View Post
    He was linked to Olympic fundraising fraud in 2007
    Slightly off-topic, but a point worth mentioning: TelexFree almost certainly was doing the same thing -- not in the sense it was raising money for the Olympics itself, but in the sense it was tapping into the national pride of Brazil for hosting the 2016 summer games. The message was along these lines: "Join TelexFree, and you'll be helping drive economic development in Brazil. You'll also create jobs outside the MLM: We're building 500 hotels."

    WCM777 also reminds me of TelexFree in the sense that a carrot was dangled that the members could become beneficiaries of some sort of public offering in the future that somehow would create windfall profits. Some China or Hong Kong-based schemes have been dangling similar carrots, as the SEC's CKB and CKB168 case demonstrates:

    SEC.gov | SEC Halts Pyramid Scheme Targeting Asian-American Community

    PPBlog

  3. #3
    littleroundman is offline Administrator
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    Re: WCM may be much WORSE than we ever suspected

    Quote Originally Posted by kschang
    WCM777 is a ponzi, we knew that (see BehindMLM)

    Now we're finding that not only Ming Xu embellished his resume on LinkedIn (then confirmed it on Twitter)

    A MLM Skeptic: BREAKING NEWS: WCM Ming Xu admits on Twitter that he faked his resume on LinkedIn

    Reproduced here with the kind permission of K. Chang from his excellent
    A MLM Skeptic blog


    The only thing necessary for the triumph of evil is for good men to do nothing

  4. #4
    littleroundman is offline Administrator
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    Re: WCM may be much WORSE than we ever suspected

    Quote Originally Posted by kschang

    Reproduced here with the kind permission of K. Chang from his excellent
    A MLM Skeptic blog

    The only thing necessary for the triumph of evil is for good men to do nothing

  5. #5
    littleroundman is offline Administrator
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    Re: WCM may be much WORSE than we ever suspected

    Quote Originally Posted by kschang
    And his buddy, head of WCM777, Zhi Liu, is head of US branch of a vast stock scam in China called Vantone.

    A MLM Skeptic: BREAKING NEWS: WCM777 CEO Zhi Liu Linked to Vantone Stock Scam in China
    Reproduced here with the kind permission of K.Chang from his excellent A MLM Skeptic blog

    The only thing necessary for the triumph of evil is for good men to do nothing

  6. #6
    NikSam is offline AntiCon Artist
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    Re: WCM may be much WORSE than we ever suspected

    What the hell is this? :

    wcm777pic5.jpgwcm777pic6.jpg

    This event has also received great support from the California government. California 49th Assembly District Representative Ed Chau and California State Controller presented Certificate of Recognition and Congratulatory letter to Dr. Phil Ming Xuon behalf of the state government.


    What did State Controller recognized in him? :)

    URL: http://www.wcm777.hk/en/news/20130916en.html


    PS: oh, Never mind after zooming in I figured out that it is a congratulation for appearing at "The Grand Opening of the Glen Ivy Golf Course"

  7. #7
    NikSam is offline AntiCon Artist
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    Re: WCM may be much WORSE than we ever suspected

    LRM, interesting address you diged up on affluen.com whois,

    suite number is missing, but i tried to look up more details and stumbled upon this 2008 doc from SEC
    http://www.sec.gov/Archives/edgar/co...-08-000002.txt

    MAIL ADDRESS:
    STREET 1: % WORLD CAPITAL MKT 9595 WILSHIRE BLVD
    STREET 2: SUITE 900
    CITY: BEVERLY HILLS
    STATE: CA
    ZIP: 90212

    FORMER COMPANY:
    FORMER CONFORMED NAME: GOODWELL HOLDINGS, INC.
    DATE OF NAME CHANGE: 20080111
    so suite is 900
    same exact place where Uinvest's Beverly Hills office is :)

    let me explain, suite 900 is a reception for entire floor, there are some offices rented, time-shared, desk-shared or just virtual receptionist service
    but all using suite 900


    Virtual_ofiices.jpg
    Last edited by NikSam; 10-29-2013 at 12:41 PM.

  8. #8
    littleroundman is offline Administrator
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    Re: WCM may be much WORSE than we ever suspected

    Don't you just love it when a HYIP ponzi fraudsters goes one step too far and gets caught out in a bigtime lie ??

    Here's Ming Xus' announcement on the WCM777 fraud website:



    Here we see Phil Ming Xu himself making the announcement:




    Finally we have this announcement from a frustrated Siemens on the
    Siemens.com website

    The only thing necessary for the triumph of evil is for good men to do nothing

  9. #9
    kschang is offline Senior Scambuster
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    Re: WCM may be much WORSE than we ever suspected

    More update... Basically same as LRM's Siemens update

    A MLM Skeptic: BREAKING NEWS: Siemens denies ANY involvement with WCM or any related company, Ming Xu lied

    Plus allegedly a confession by Ming Xu claiming he was a victim in all the frauds he was accused of involvement, managed to also insult all the Chinese, calling US people superior morals compared to mainland Chinese. :)

    A MLM Skeptic: BREAKING NEWS: Ming Xu admits to being involved in multiple frauds in China and Olympic fraud, denies responsibility
    ---
    A MLM Skeptic (not a Cynic) covering scams, critical thinking, and psychology
    http://amlmskeptic.blogspot.com

  10. #10
    littleroundman is offline Administrator
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    Re: WCM may be much WORSE than we ever suspected

    Once again reproduced here with the kind permission of REALSCAM.com member kschang from his A MLM Skeptic
    blog



    Tuesday, October 29, 2013


    BREAKING NEWS: Ming Xu admits to being involved in multiple frauds in China and Olympic fraud, denies responsibility

    Search engine brought up this blog, allegedly by Ming Xu, where he laments at getting involved with bad people in China, denies ANY responsibility of defrauding people in China and in the US. He also called people in China generally more morally corrupt than the people in the US.

    http://blog.sina.com.cn/s/blog_67bfab070100orzy.html

    It is in Chinese, so here's a short translation:

    Regarding alleged scams in China

    2005年低,我拿到美国绿卡后。开始回到中国,我们当时签约了中坤地产。操作其旅游业务的上市。 
    At the end of 2005, I got US green card, so I returned to China, and we signed up ChungSheng Realty, and helped their travel department's IPO.
    当时,通过朋友介绍,我们也考察了哈尔滨富华公司。
    Also, through a friend's introduction, we studied Harbin's FuHua company.
    2007年签约作为其财务顾问,操作其上市。
    We signed contract in 2007 to be their financial advisor, to control its IPO.
    我们投资上市壳公司。这在当时是一个金融创新。 
    We invested in the IPO Shell company. This at the time is a financial innovation.
    因为当时所有的中国公司必须化钱买壳。我们的壳不需要现金购买。 
    At the time, all the Chinese companies need to spend money to buy shell. Our shell costs no cash.
    但是后来其董事长由于债务问题被抓出事, 其上市也不了了之。 
    However, the CEO later got arrested for debt problems, so the IPO never happened.
    我们的投资和时间也付之东水。 
    Our investment and time are also lost.
    但是后来很多投资过哈尔滨富华,不明真相之人,怪我们没有操作成功其上市。
    Later many people who invested in Harbin FuHua company, and do not know the truth, blame us for unsuccessful IPO.
    但这不是我们能控制的,我们也没有从其集资中获益, 我们只是财务顾问, 我们也是壳的投资者 。
    This is beyond our control. We did not profit from this. We are financial advisor only. We invested in the shell too.
    从此事件后,我们对有民间集资背景的公司,很慎重介入, 防止被其利用去民间集资。
    AFter this, we are very careful in joining any company that raises capital from the masses, to prevent raising money from the public.
    当时利用上市去民间集资,很风行。 但是大多数是没有退出机制的。
    At the time IPO to raise money from investor is very popular, but vast majority has no way to back out.
    我们本来想解决这个问题,但是由于突发事件,我们也没有这个机会来解决其退出机制的问题。我们 对此很遗憾。
    We wanted to solve this problem, but the problem was sudden, and we had no chance to solve this chance to back out, to our everlasting regret.
    中间我们还签约了沈阳帝杰,作为其上市顾问,后来重组了该公司。
    We also signed DiJie from Shenyang, to be IPO consultant, and reorganized the company.
    后来我们聘用的律师尽职调查发现其业务有问题,我们就退出了合作,签订了终止合作协议。后来其董事长也出事 了。 
    Later our lawyer, investigated and found problems, so we backed out of the deal, and signed our withdrawal. Later its CEO also got into problems.
    我的经验教训,我们要选择好合作伙伴。
    My experience has taught me that we need to choose good working partners.
    若合作伙伴没有选好, 再好的商业设计也是前功尽弃。
    We we did not choose the right partners, no matter how good the company is, it will be wasted.
    道不同不可以相为谋。 正如神说, 义与不义, 不能同负一轭。
    (some Chinese adage, and a bible adage of similar talk)
    第二,在中国,我们若不谨慎小心, 就很容易成为别人做的局里面的棋子, 被人利用。
    Second, in China, if we're not careful, we can be a pawn in someone else's game, and be used.

    2007年我通过我以前中国国际广播电台的同事钱军认识了一自称为北京全民迎奥运的主席,王先生。 
    In 2007 I met a Mr. Wong, who claimed to be chairman of "Beijing All People Welcome Olympic", through an old workmate at CRI Mr. Chien.
    他积极拉我进入该组织,为北京奥运出力。 
    He invited me to join this organization and help Beijing Olympics.
    对于能参与到北京奥运会,作为一个海外游子,能有机会为国家作贡献。我义不容辞。 
    I jumped at the chance to join the Beijing Olympics as a good ex-pat to contribute to my mother nation.
    我当即捐献了一笔不菲的钱给他去推动全民办奥运的想法和主张, 他立即封我为执行主席
    I donated a significant amount to him to let him promote the idea and purpose. He immediately gave me title action group leader.
    我非常喜欢其全民参与的主张。
    I really like the organization's purpose.
    自己在没有对该机构尽职调查情况下,就一厢情愿支持他。
    I joined without doing any due diligence, and supported him all the way.
    我想原因有二:一是朋友推荐,放松警惕;二是自己个人膨胀, 想荣耀自己的名。虚荣心使我轻易上钩了。
    I think there were two reasons. One is recommended by friend, let my guard down, and two, I was overwhelmed by pride and want to show off my name.

    为了配合北京全民办奥运,我在洛杉矶召开记者招待会,发动全球华人迎奥运
    To support Beijing Olympics, I held press conference announcing "Global Chinese Welcome Beijing Olympics"
    我们也在美国加州注册成立了中国奥运基金会,中国使馆做了公证。
    I also registered in California "China Olympic Fund", certified by the Chinese Embassy.
    我们在美国当时的2个子公司捐赠了几十万美元零售价值的物品给中国奥运基金会,用于公益事业。  
    My two child companies in the US donated several hundred thousand dollars (MSRP) of products to the China Olympic Fund for charity.
    后来我才发现,王先生给我看的在北京民政局注册的北京全民迎奥运全部是假的文件。
    Later I found the paper shown to me by Mr. Wong, that stated this Beijing All People Welcome Olympic"certified by Beijing City Bureau, was a fake document.
    公章都是伪造的。
    Even the seal was a fake.
    我真正领教了中国的另外一面, 有些人为了挣钱,可以不择手段。
    I really experienced a different side of China... Some people will try to make money with ANY means necessary.
    我真是在海外呆傻了。我们海外华人的报国之心被利用了。
    I must have gone stupid staying overseas. Our patriotic heart was abused.

    后来中国21世纪导报在没有调查,了解实情的情况下,给我们做了不实的报道。 对此,我们的中国奥运基金会"在网站上也做了澄清。(www.MyBeijing2008.org)
    Later TwentyFirst Century Newspaper in China, by doing no investigation, made a false report. We have explained our side on our website.

    箴言里说,愚蠢的人见话就信。 我当时就是很愚蠢。大陆人才良莠不齐。不是美国,人普遍层次较高,法律严谨。 大部分人讲的话都是真的,负责的。
    As the cliche goes, gullible believe anything. I was gullible. People in China comes in all alignments, not like the US, where generally people have higher morals. Most people say true and responsible things.


    ----


    I do point out that in the newspaper, the Chinese Embassy in the US disclaims any such support. I don't know about the "notarize" part.

    The only thing necessary for the triumph of evil is for good men to do nothing

  11. #11
    kschang is offline Senior Scambuster
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    Re: WCM may be much WORSE than we ever suspected

    War of Bible quotes continues on Twitter. :) Watch the dialog between @CNPEG (Ming Xu) and @Kschang777 ;)

    (OpenBible search is a wonderful thing... Saves me hours of searching back and forth for a suitable quote... )
    ---
    A MLM Skeptic (not a Cynic) covering scams, critical thinking, and psychology
    http://amlmskeptic.blogspot.com

  12. #12
    kschang is offline Senior Scambuster
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    Re: WCM may be much WORSE than we ever suspected

    Apparently Ming Xu is self-deluded enough to appear on SVIEF and tout his "incubator" (most of which are incubating his own companies) and his "Kingdom Card", supposedly a customer loyalty program (but part of the WCM777 ponzi scheme). He even released his own speech online. It's on behindlmlm.
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    A MLM Skeptic (not a Cynic) covering scams, critical thinking, and psychology
    http://amlmskeptic.blogspot.com

  13. #13
    JustTooMuchTime is offline Senior Scambuster
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    Re: WCM may be much WORSE than we ever suspected

    Quote Originally Posted by kschang View Post
    War of Bible quotes

  14. #14
    kschang is offline Senior Scambuster
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    Re: WCM may be much WORSE than we ever suspected

    Except Ming doesn't really cite the Bible. He simply claims to appeal to Yahweh to give him strength every night or something like that.

    Frankly, if you need to do that every night, either something's wrong with your life, or you're living it wrong.
    ---
    A MLM Skeptic (not a Cynic) covering scams, critical thinking, and psychology
    http://amlmskeptic.blogspot.com

  15. #15
    kschang is offline Senior Scambuster
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    Re: WCM may be much WORSE than we ever suspected

    For more grins, watch this new twitter account: @NOTCNPEG
    ---
    A MLM Skeptic (not a Cynic) covering scams, critical thinking, and psychology
    http://amlmskeptic.blogspot.com

  16. #16
    littleroundman is offline Administrator
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    Re: WCM may be much WORSE than we ever suspected

    An update of the statement from Siemens distancing itself from WCM:

    Official statement regarding claims made by the World Capital Market company

    Encontrará la versión española abajo.

    A company called World Capital Market and its affiliated businesses are offering opportunities to invest in cloud-based storage solutions. The company claims to operate these solutions in cooperation with Siemens.

    We hereby state that no form of cooperation exists between Siemens and the World Capital Market company and its affiliated businesses. Nor do we accept any claims made in any presentation or video by WCM and its affiliated websites. The website wcm7.com and affiliated sites do not represent an official offer from Siemens. The World Capital Market (WCM/WCM7/WCM777) company is not entitled to use the Siemens name or trademark.

    A document provided by WCM to prove that a contract was concluded with Siemens is, as is clearly evident, a letter of intent. A letter of intent is non-binding and merely shows an intention to perhaps do business in the future (see Wikipedia). This letter was signed by Siemens on Sept. 27, 2013, which is very much later than the alleged cooperation. Under the terms of the confidentiality clause, we cannot provide the full text of this agreement. However, we can affirm that it has a very vague scope and does not entitle WCM or any affiliated company to use Siemens' name or trademark. We explicitly declare that no binding agreement has been signed and no products or solutions have been delivered. Based on the information gained over the last few weeks, also from the social media community, Siemens will carefully review this business opportunity before considering to negotiate any binding agreement.

    For your further information, Siemens' IT business (which is mentioned in some statements and presentations) was sold in 2011 (the press release can be found here Atos Origin and Siemens to create a European IT Champion - Atos Origin to acquire Siemens IT Solutions and Services - Siemens and Atos Origin to become strategic partners - Siemens Global Website).

    In order to help other investors avoid making any investments based on false assumptions, we would urge you to pass on this information.

    > Please use the following URL as a link to this statement:
    Official statement regarding claims made by the World Capital Market company - Siemens Global Website

    Siemens AG
    The only thing necessary for the triumph of evil is for good men to do nothing

  17. #17
    littleroundman is offline Administrator
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    Re: WCM may be much WORSE than we ever suspected

    Put your hands together for the man of the moment:

    Ming Xu




    Finroad Directory
    The only thing necessary for the triumph of evil is for good men to do nothing

  18. #18
    Whip's Avatar
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    Re: WCM may be much WORSE than we ever suspected

    Quote Originally Posted by kschang View Post
    War of Bible quotes continues on Twitter. :) Watch the dialog between @CNPEG (Ming Xu) and @Kschang777 ;)

    (OpenBible search is a wonderful thing... Saves me hours of searching back and forth for a suitable quote... )
    Bible quote fight club!

  19. #19
    kschang is offline Senior Scambuster
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    Re: WCM may be much WORSE than we ever suspected

    That "not Ming Xu" twitter account needs some followers... ;)
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  20. #20
    littleroundman is offline Administrator
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    Re: WCM may be much WORSE than we ever suspected

    The Patrick Pretty blog is reporting:

    URGENT >> BULLETIN >> MOVING: Massachusetts Halts WCM777, Says It Was Selling Unregistered Securities And Targeting Brazilian Community

    URGENT >> BULLETIN >> MOVING: (4th Update 11:15 A.M. ET U.S.A.) Massachusetts has halted the WCM777 multilevel marketing scheme, saying it was associated with entities in Hong Kong, the British Virgin Islands and the United States and selling unregistered securities.
    The only thing necessary for the triumph of evil is for good men to do nothing

  21. #21
    littleroundman is offline Administrator
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    Re: WCM may be much WORSE than we ever suspected








    The only thing necessary for the triumph of evil is for good men to do nothing

  22. #22
    littleroundman is offline Administrator
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    Re: WCM may be much WORSE than we ever suspected

    The face behind the names behind the WCM fraud:



    Renato Rodriguez' renatorodriguezteam page on Facebook



    Saul H Mondragons'
    saulmagazine page on the WCM777.me website



    Daniel Cruz'
    daniel.cruz.12935 page on Facebook



    Francisco Figueroas' francisco.figueroa.3192 page on Facebook
    The only thing necessary for the triumph of evil is for good men to do nothing

  23. #23
    littleroundman is offline Administrator
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    Re: WCM may be much WORSE than we ever suspected

    More of the faces behind the names behind the WCM777 fraud:



    Armando Garcia Garcias'
    armando.garcia.garcia.3975 page on Facebook



    Malva Sagravs'
    malvasagrav30 page on Facebook



    Carlos Ramirez'
    organogelatino page on Facebook
    The only thing necessary for the triumph of evil is for good men to do nothing

  24. #24
    littleroundman is offline Administrator
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    Re: WCM may be much WORSE than we ever suspected

    The only thing necessary for the triumph of evil is for good men to do nothing

  25. #25
    littleroundman is offline Administrator
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    Re: WCM may be much WORSE than we ever suspected


    The
    wcm777colombia page on Facebook



    In further WCM777 related news, OzSoapbox is reporting on his
    BehindMLM blog

    Colombian government suspends WCM777 operations
    Nov.18, 2013 in WCM777

    Three weeks ago twe broke the news that Colombian President Juan Manuel Santos had personally ordered a police investigation into the local business operations of WCM777.

    Twenty one days later, the results of that investigation are out, with The Colombian government deciding to suspend WCM777′s operations in Colombia. Criminal investigations into top WCM777 Colombian affiliate investors have also been launched.

    The suspension decision and criminal investigations, announced last Saturday by the Superintendent of Companies and effective immediately, includes the prohibition of Colombian WCM777 affiliate investors from advertising the investment opportunity. Colombian police are now actively going after Colombian WCM777 affiliates advertising on the internet and seeking removal of the content.

    Additionally the government has also “frozen” WCM777 affiliate’s deposited investments and ROIs held locally. They have also seized assets of top Colombian affiliate investors.

    The reason behind the decision to effectively freeze WCM777′s Colombian operations appears to be the “usual unauthorized mass-collection of money” (Google auto-translate), which the Colombian police see as a “pyramid scheme”.

    Please note that this is a breaking story (in Spanish) and as of yet I haven’t seen a print version of it available online. I’ve done my best to make sense of the auto-translation of the Noticias Uno report below, but any Spanish-speaking readers are welcome to suggest any corrections.
    The only thing necessary for the triumph of evil is for good men to do nothing

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