Peruvian legislator Jaime Delgado has issued a public statement that warned all against WCM777, a foreign company doing illegal pyramid-selling business... just like TelexFree that came from Brazil. Their pitch basically is give them up to $2000 USD, and you can realize profit of up to 300% in a few months.
You can read the original article here in Spanish
http://peru21.pe/impresa/alertan-polemico-negocio-2158106
UPDATED 21-NOV-2013 It is now stated that Jaime Delgado has asked the Peruvian Superintendency of Securities, Peruvian Superintendency of Banking and Insurance, as well as Peruvian Attorney General, to look into this scam.
http://www.connuestroperu.com/consumidor/20/40008-advierten-sobre-negocio-piramidal-de-empresa-wcm777
There are various Twitter accounts, Facebook pages, and even a few domains registered in Peru. In fact, one of the biggest pushers of WCM777 pyramid scheme (according to Colombian government) is a pastor David Lozano, of "Ministerio La Luz". This is him on his ministry website, at the bottom, touting WCM777:
And here's a much better picture supplied by himself:
There is only one problem... This is a Photoshop (tm) job. Notice the slight "halo" around his head? This is a background that usually appears in lawyer photos. Mr. Lozano is composited onto the picture. In fact, if you zoom in, you'll see that the book spine says "PRETRIAL SUPPLEMENT", which only belongs to lawyer's libraries.
Just to illustrate the point, here's a completely unrelated lawyer in front of similar books:
I have pictures of Lozano meeting with Tiger Liu and Ming Xu, but really, two pictures are enough.
As explained before, people flying the banner of religion but are really scamming is nothing new. When one even fake one's photo to the public, it kinda makes you wonder just how real is the PERSON in the picture...
And the business they're involved with.
Colombia has declared WCM777 ponzi scheme and illegal. Isn't it too much without having to go to court and WCM777 is pronounced illegal. Unless Colombia does not allow Network Marketing (I am not sure about this), how can it be illegal. No one force them to buy the cloud technology, it is over internet and what is the problem. My understanding is that, WCM777 is in the promotional phase where they have allocated funds for marketing to scale up and globalize their membership base for all their future business. Hence, they are giving profit sharing for time limited which is stated in the Mission Statement of WCM777. Why is this not mentioned by your blog ? It is NOT an investment as most of you have perceived. This is an opportunity to share their profit and it will not last forever.
ReplyDeleteThere is no cloud technology. You're being paid from people who paid in. Nobody is in for cloud tech. Everybody is in to share profit, and the only profit are from other people you joined. This is called a Ponzi scheme.
Deleteagree. wcm777 or kingdom 777 is just scam!
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