Cases / Investment funds & advisory
WCM, WCM777
Ming Xu (aka Phil Ming Xu)
This entry summarizes public reporting and government filings. Charges and civil complaints are allegations unless a court has entered a conviction or judgment — check the source for the current status.
- Company / entity
- WCM, WCM777
- Industry
- Cloud computing services / tech IPO points (pyramid scheme)
- How investors were recruited
- Multi-level: investors earned "points" for investing and for enrolling other investors
- Pitch & red flags
- return "would be 100 percent or more in 100 days"; claimed partnerships with 700+ major companies; "we are not a Ponzi game company. We are creating a new business model."
Pitch phrases from this case
- “we are not a ponzi game company. we are creating a new business model”
- “would be 100 percent or more in 100 days”
Source
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