The Federal Bureau of Investigation and the United States Postal Inspection Service are conducting an investigation into the activities of World Capital Markets, Inc. and its officers, employees, and affiliates (collectively, “WCM”). If you believe you have been defrauded by WCM, you are encouraged to read and act upon the information below.
The following is public information relating to the ongoing WCM investigation:
On March 27, 2014, the Securities and Exchange Commission filed a complaint and temporary restraining order against WCM and others. On March 27, 2014, the United States District Court granted the temporary restraining order, and on April 10, 2014, the United States District Court entered a permanent restraining order in the case. The allegations made on March 27, 2014, are summarized below.
Beginning in approximately March 2013 and continuing through March 2014, WCM—doing business as WCM777, Kingdom777, and To Pacific—operated an alleged scheme in which it misappropriated more than $80 million in funds obtained from investors in the United States and abroad.