Things are getting stranger at WCM777: After a police raid this week on the “program” in Peru, the purported head of WCM777 has declared his love for the Peruvian people — on the letterhead of World Capital Market, a California corporation listed as “suspended.”
WCM777, an arm of World Capital Market, is under investigation in multiple countries. In November 2013, the firm was accused by the state of Massachusetts of selling unregistered securities. Hotel presentations in Massachusetts allegedly were targeted at Brazilian-Americans.
In the United States and elsewhere, claims have appeared that $14,000 sent to WCM777 returns $500,000 in a year.
As part of a Twitter declaration of love to Peruvians, “Dr. Phil Ming Xu” noted that WCM777 “wants to united [sic] people and build a global community of trust and love.”
And, according to the Tweet, WCM777 “has a promotion plan with a payout ratio of 130% for a limited time to sell our seven cloud products” and has stopped “our promotion plan with a payout ration [sic] [of] about 50%.”
The Ming Xu letter to Peruvians claimed the company “is willing to back” the 130 percent scheme, but appears to ignore the issue of offering unregistered securities.
WCM777, now reportedly known as Kingdom777, has been targeted at people of faith in the United States and other countries.
For Peru and South American members. First page. pic.twitter.com/gIGYd5UFTk
— Dr. Phil Ming Xu 徐明 (@CNPEG) January 17, 2014
In a Jan. 16 Twitter post, Dr. Phil Ming Xu noted, “When 4 blood moons are on the sky in this April, people will understand what we are doing.”
Some people believe the world will end in April. It’s unclear if Ming Xu is in the end-of-the-world camp.
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