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."
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.
