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UPDATED Tue, Oct 29, 2013
I recently met someone who was showing me this WCM777 company and they were constantly using their parent head company World Capital Markets as ‘credibility’ for this company. I always get warning bells when I see this because the reality is that WCM777 is NOT World Capital Markets. That’s like Visalus and their parent company Blyth. Although Blyth may be credibily, it has nothing to do with what Visalus is.
I did read a review online which I found very similar to my findings and I’ll link it here.
Here are the main red flags.
1) A company whose product is cloud service in MLM? Really? I mean, Google has theirs, Apple has theirs, why would someone want to pay $2000 to have a cloud service from WCM777? Simply because it’s just a way to try to make this company look like they have a real product or service. I always teach in our camp that if a company didn’t have anyone who would buy their products without a compensation plan, then it’s very risky! However, if a company would have people buy their products even without a compensation plan, then it’s more real. To be honest, I could never refer this to anyone because I don’t know anyone who would pay $2000 for cloud services.
2) It’s generally the rule of the regulators that you should not buy in more then one time into a company. A company that tells you to buy in more then once is typically called a Ponzi Scheme were you and the rest of the people are enrolling people into the bottom of the structure just to push money up to the top of the people. When I first received the presentation, they told me that you invest $2000, and you would receive $32 / day of which $16 is paid as cash into your eWallet but after 100 days that would stop and you need to buy in again. They then told me of people who bought in 7 positions all at once being $14,000! Yet funny enough, when I looked at one of their English documents (mostly were Chinese) it said in clear English no Re-purchase (which means buy in again) more then once.
3) The top leader, name to be left out, who was trying to sell this to many was convincing me to not worry about the future but worry about now and whether or not I could get my money (investment) back. I told them that I don’t see any long term stability with this system, and they kept pushing that off.
All in all, there was a lot of red flags and anyone who is joining this company, please be very very careful.