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Source: Npros.com 11/23/2013

WCM777 Acknowledges Selling Unregistered Securities

Following an investigation by the Massachusetts Securities Division, WCM777 is banned from doing business in the state and was ordered to refund more than $300,000 to affiliates in Massachusetts.

WCM777 recently posted a short statement on the company's website stating that "the sale of securities failed to fully comply with laws and regulations in the United States, our operations in the U.S. will be on hold until further notice...The company will implement new compliance procedures and register with the SEC before selling securities."

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Related News

WCM777 Acknowledges Selling Unregistered Securities

Following an investigation by the Massachusetts Securities Division, WCM777 is banned from doing business in the state and was ordered to refund more than $300,000 to affiliates in Massachusetts. WCM777 recently posted a short statement on the company's website stating that "the sale of securitie... Read More...

WCM777 Ceases Operating in US

Hong Kong-based WCM777, which held a "grand Opening" in Los Angeles in June and claimed to have "received great support from the California government", has ceased operations in the United States. An announcement from the company says that its U.S. operation is closed, without giving a reason for it... Read More...