Nevada issues Wings Network securities warning
It was only a few months ago that Wings Network “suspended” its US operations.
Of course that was all pseudo-compliance baloney, with the company’s affiliates continuing to recruit US-based investors.
This eventually attracted the attention of the Massachusetts Securities of State, who filed a pyramid scheme complaint against the company in May. The case is currently making its way through the courts.
In the meantime, the US state of Nevada has now issued its own warning against Wings.
A press-release issued by the office of Ross Miller, Nevada’s Secretary of State, reads
Secretary of State Ross Miller warns Nevadans to beware of a possibly fraudulent investment scheme targeting minority communities, specifically Spanish and Portuguese.
Wings Network is a multi-level marketing program that is advertising online, and being sold door-to-door or through friends and relatives.
The Secretary of State’s Securities Division believes Wings Network’s proposed business opportunity is an investment contract and a security that should be, but isn’t, registered with the State of Nevada.
Some multi-level marketing programs may be structured in such a way that they constitute a security and should be registered as such. Miller cautions individuals not to buy or sell packages from Wings Network without conducting thorough research and seeking independent legal advice.
“It is vital that every investor conduct the most thorough due diligence possible when making an investment,” said Miller. “Investing is a complicated and risky process.
Even the initial receipt of interest payments or distributions paid to some investors, or an investment sold by someone you know, doesn’t guarantee that an investment is legitimate.
A Ponzi scheme may have similar attributes. Potential investors just can’t be careful enough. And always remember that if it sounds too good to be true, it probably is.”
BehindMLM reviewed Wings Network back in December of 2013 and drew similar conclusions.
With Wings Network, under the guise of cloud computing services, essentially you’ve got a wholly affiliate-funded scheme, with commissions paid out directly on recruitment and then residually when a recruited downline recruits new affiliates.
The lack of retail and recruitment driven nature of the business puts Wings Network squarely in pyramid scheme territory.
Recruitment of new affiliates, getting them to buy in at one of three levels and then going off and recruiting others who do the same is the core of the business.
Once new recruitment stops, the commissions dry up and Wings Network, like any other pyramid scheme, will implode.
“If it sounds too good to be true, it probably is.”
Footnote: Hat tip to Patrick Pretty.
The top leaders who make the most money in Wingsnetowork was got away with this crime. People like top leader Viviane Rodrigues and Husband Evandro Rodrigues plus.google.com/+VivianeRodriguesUSAGRUPOINTERNACIONAL/posts was direct downline under Vinicius Aguiar director of WingsNetwors Sergio Tanaka right hand man.
Viviane and Husband had a company called Grupo Internacional USA together they made approximately one Million Dollar with this scam, she went to Brazil and now she is back with a new mlm Integrity Assets Group.
Number 2 in line Wesley “Cowboy” Rodrigues first supervisor in Massachusetts under Vinicius Aguiar youtube.com/watch?v=hpknAr0102A was a big promoter and he went under radar as well.
Number 3 in line is: Dorli Alves Pinto, residend of Framingham Ma who used his family business AD2 printing Inc to recruit thousands of fellow Brazilians and made millions dollars with all sort of pyramid scheme including Telexfree, WCM777, WingsNetwork etc…..
Mr. Pinto also went under radar after defraud many in his community shame on him, he was direct downline and personal friend of Viviane Rodrigues Vinicius Aguiar right hand.
Number 4: Gilvan Calado is Sann Rodrigues was a top leader o WingsNetwork as seen in this photo and facebook facebook.com/gilvanribeirocalado/photos?pnref=lhc he also made millions on all sort of scams range from Telexfree, WCM777, WingsNetwork and Get Easy.