BehindMLM: Phil Ming Xu Sentenced in WCM777 Ponzi

Phil Ming Xu sentenced in WCM777 Ponzi case

wcm777-logoIt’s game over for Phil Ming Xu, with court documents uploaded to the WCM777 Receivership website sometime over the last few days revealing his sentence in the WCM777 Ponzi case.

Neither confirming or denying the SEC’s allegations (which is code for “if I fight this I will lose” in Ponzi litigation), Xu has been “permanently restrained and enjoined from violating, directly or indirectly” various sections of the Securities Exchange Act.

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