March 15, 2016 MLM & Affiliate Marketing News
WCM777 investors claim $300M in Ponzi promises
Posted: 14 Mar 2016 07:17 PM PDT
Following the opening of a WCM777 victim’s claim portal late last year, some 35,545 claims were filed for a whopping $386 million in losses. The problem? The Receiver to date has only recorded around $86 million of actual invested funds. Furthermore only $30 million has been recovered for redistribution. The problem facing the Receiver has [Continue reading…] Source: WCM777 investors claim $300M in Ponzi promises
Read the full article and join in the discussion over at BehindMLM.
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.
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