WCM777: Final Judgment Against Aeon Operating, Inc.

wcm777-logoToday, this Order was issued in response to yesterday’s STIPULATION for Settlement Consent of Relief Defendant Aeon Operating, Inc. to Final Judgment filed by the Securities and Exchange Commission:

 

FINAL JUDGMENT AS TO RELIEF DEFENDANT AEON OPERATING, INC.

“having entered a general appearance, consented to the Court’s jurisdiction over Relief Defendant and the subject matter of the action; and consented to entry of this Final Judgment without admitting or denying the allegations of the Complaint (except as to jurisdiction); waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment:

I.
IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that the $1,276,714 was transferred to the receiver, Krista Freitag, from an account held in the name of WCM Resources, Inc., which account was jointly controlled by defendant Ming Xu and persons associated with Aeon, and that Aeon relinquishes any and all claims to those funds in satisfaction of the SEC’s claims against Aeon as a relief defendant in this proceeding.

II.
IT IS FURTHER ORDERED, ADJUGED, AND DECREED that the Commission’s claim against Aeon shall be, and hereby is, dismissed.

WCM777: Claims Portal Open

wcm777-logoPursuant to Court approval, a claims portal has been opened for victims of this scam to file a claim, which is similar to the Zeek Rewards claims process.

https://www.wcm777claimsprocessing.com/en

The deadline to file a claim is November 9, 2015.

For more information on this matter, please contact the Claims Administrator at:

Call: 1-877-301-6918
Write: Krista L. Freitag, Receiver
c/o SEC v WCM777 Claims Administrator
PO Box 3775
Portland, OR 97208-3775
Email: info@WCM777ClaimsProcessing.com

Please ensure that you include your name and your return address on all correspondence.

BehindMLM: WCM777 Victim Payouts for 2015

WCM777 victim payouts planned for mid/late 2015

Good news for those who lost money in the WCM777 Ponzi scheme, affiliate claims could be processed and paid out as early as mid to late 2015.wcm777-logo

But that’s only the tip of the iceberg in the court-appointed Receiver’s “This Interim Report”.

Reading like a movie script at times, here’s what’s been going on behind the scenes as the Receivership struggles to make sense of Phil Ming Xu’s WCM777 Ponzi empire.

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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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BehindMLM: WCM777 & Extent of Fraud


WCM777 Receivership report reveals extent of fraud

wcm777-logoBack in March the SEC shut down WCM777 and it wasn’t long thereafter that a court appointed Receivership took over.

Tasked with securing funds that will eventually be returned to investors who lost money in the scheme, little has since emerged as to the status of the Receivership’s efforts.

In contrast to the Receivership circuses of TelexFree and Zeek Rewards, the WCM777 Receivership has been deceptively quiet.

In the Receivership’s Second Interim Report however, details of what exactly they’ve been up to are finally revealed.

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ASDUpdates Blog Reaches Its 1,111th Post!

I suppose it is a sort of milestone, 1, 111 posts since I started the Blog to detail the events in the ASD/AdSurfDaily  Ponzi scam. Since that time, there seems to be a proliferation of crooks and scams resulting in literal piles of money leaving the victims and ending up in the bank accounts of serial scam artists and promoters.

Until the worldwide public realizes that no legitimate program can pay them an RIO 100’s of time greater than any other method is nothing but a scam, these “opportunities” will continue to pillage the public and separate them from their money.

 

BehindMLM: WCM777 offshoot, “Global Unity”

Unity Club: Global Unity Ponzi scheme refuses to die

unity-club-logoGlobal Unity is probably the most direct successor of the WCM777 Ponzi scheme. When the regulatory heat got too much for founder Phil Ming Xu, he put out a message saying he’d sold the business to some new owners, and that he hoped they could turn it legit.

Global Unity was far from legit though, with the owners instead opting to try to reload WCM777′s business model. Global Unity affiliates even professed the company to be safe from the SEC, largely due to the fact that it was based offshore in Hong Kong:

The team now manages the company from Hong Kong is doing so with much more professionalism than the previous team.

Total trust in the new policy according to which there has been. -Global Unity will not close, will continue its activity and will continue to pay according to the payment Plan.

SEC is only for USA. As already known the company not operating currently in USA. The rest of the world continues its activity.

That late March and after the announcement things went quiet. A week or so into April and Global Unity’s website went down, showing an “under construction” message.

Now, it seems the owners are trying to flog the same business under yet another name. [Continue reading…]

BehindMLM: Ming Xu repentant about WCM777??


Ming Xu repentant about WCM777?

Apr.13, 2014 in WCM777 11 Comments

wcm777-logoRoughly two weeks ago we saw the SEC finally move in and shut down Ming Xu’s WCM777 Ponzi scheme. As I understand it, these last few weeks Xu has made himself available to the SEC as they continue to tie up any loose ends pertaining to the case.

In a series of tweets that hint at a finality to Xu’s personal input into the SEC case, a much more sombre sounding Xu shed the briefest of light on his side of the story.

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BehindMLM: Global Unity affiliates claim safety from SEC

 


Global Unity affiliates claim safety from SEC

Mar.29, 2014 in WCM777 1 Comment

global-unity-logoWhen Phil Ming Xu became aware that the SEC was investigating his WCM777 Ponzi empire, he began to divert deposits made by investors to Hong Kong.

As noted by the SEC in their complaint against Xu,

Around October 2013, at the same time that state regulators began investigating the WCM777 offering, (WCM777) stopped depositing investor funds into their United States bank accounts, although the WCM777 offering continued.

Since October 2013, Defendants have raised more than $37 million from investors which has been deposited into their Hong Kong bank account.

Whether or not the appointed Receivership in the case will be able to recover the funds from Hong Kong is unclear, but that hasn’t stopped affiliates in Global Unity from proclaiming their opportunity is safe from US regulation.

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