Saturday, February 15, 2014

Scam Absurdities: Kingdom 777 (i.e. WCM777) adopts Ponzi Speak and Pyramid Selling

A blatant ponzi scheme such as WCM777 (which changed its name to Kingdom 777) that was chased out of both North and South America by various jurisdictions, decided to go Orwellian by adopting "Newspeak", which seems to be copied from existing ponzi schemes, such as Ad Surf Daily.

BehindMLM made a copy of Kingdom777's official announcement:

Kingdom777 "word usage explanation" announced 13-FEB-2014

  • Investment, purchase
  • Investor, member
  • Dividend or return , bonus

Hilarious, since this is exactly what "Andy" Bowdoin of Ad Surf Daily ponzi did. Quoting from the SEC press release:
To avoid regulatory scrutiny, Bowdoin referred to ASD’s investors as “members,” referred to the investor’s money, payment and investment principle as “ad packages,” and referred to the return on the member’s investment that ASD promised and paid as “rebates.” 
Let's compile the list...

  • investor, member
  • investment, ad packages
  • return, rebates

Yep, same thing.

But there's something else... It seems Ming Xu is simply replaying the Vantone scam, which is the same trick that Interush tried in Hong Kong, and already busted.

What is the Vantone scam? For that, I'll refer you to my original discovery of the Vantone scam that Ming Xu and his buddy "Tiger" Zhi Liu was involved in. Here's a paragraph to give you an idea:
Office Chu of ShenYang Public Security explained, "After detailed investigation, this company [Vantone] had hired many representatives in multiple [Chinese] provinces. They are selling nutraceuticals and water purifiers, with additional bait of 'giving away virgin stock'. Vantone claimed that if the IPO was successful the profit will be tens of times, perhaps hundred times profit.
Chenping Zhu, 70 yrs old, told the LegalDaily reporter, that he was tempted by this "100 times profit" and became investor of Vantone, and put in at least 50000 Yuan (RMB).
Zhu said, in 2003, a friend recommended her to buy virgin stock of Vantone, told her that if the stock is listed she'll make a lot of money back. However, to get the virgin stock, you have to buy the company products. If you buy 3 units to 13 units (at $558 Yuan RMB per unit) you can purchase virgin stock for $1 per share. If you buy 15 units to 21 units, they'll double your stock... Buy 10000, get 10000 free. The first 100 people every month to order 21 units or more gets 5000 extra shares.  
Got the idea? The more money you put in, the more of this "virgin stock" you get. And if they ever go IPO, you can trade those for "real" stocks, and voila, profit...

Seems Ming Xu and Kingdom777 just swapped the word "bond" for "virgin stock".

The sad part is they aren't even the first to do it in Hong Kong, as Hong Kong already busted one such scheme in 2013, called Interush, which was ALREADY outlawed in China in 2011 and 2012. Interush promised "subscribe to our IRIS suite" and you get X amount of these virtual stock options, which can be swapped for real stock when we go IPO! NOT!!!!

The only difference is Ming Xu's Kingdom 777 is not aimed at China. But with it already outlawed in the Americas, and Europe is usually not dumb enough to fall for this, that pretty much leaves the rest of Asia and Africa, where lack of communication, research, and education may make their populations more vulnerable for the religious affinity scam angle that Ming Xu seem to employ a lot.

Which is why this information needs to be out there.

Beware of Kingdom 777. It's not a place you want to go.

P.S. Any one who had put money into WCM777 in California, is urged to contact California Department of Business Oversight AS SOON AS POSSIBLE.

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