NWorld has obtained a regulatory stop and desist from the Philippine SEC.
The SEC identifies NWorld as a subsidiary of AlphaNetWorld Company. Each AlphaNetWorld and NWorld are operated out of the Philippines.
The SEC’s stop and desist was issued by means of their Enforcement and Investor Safety Division (EIPD).
The order directs
AlphaNetWorld Company, doing enterprise underneath the title and magnificence of NWorld (and) its president, Juluis Allan C. Nolasco … to instantly stop and desist for from partaking within the sale and/or supply of unregistered securities.
BehindMLM reviewed NWorld again in 2017. We discovered “a typical private care/dietary complement providing.”
NWorld did have a scarcity of retail focus, lending itself to being a pyramid scheme, however I didn’t see something resembling an funding alternative on the time.
It seems NWorld’s MLM alternative has modified since our evaluate.
The investigation of the EIPD confirmed that NWorld (AlphaNetWorld) … is engaged within the sale and supply of securities to the general public with out the required license from the Fee.
The EIPD particularly confirmed that Nworld is promoting/providing funding packages … which entitles member-investors to obtain Nworld merchandise and a assured month-to-month return of as much as P127,000.
The investment-taking actions of Nworld was confirmed, defined and demonstrated to the investigators of EIPD by Mr. Richard Domingo, one of many firm’s Product Specialist(s).
A complement MLM firm providing assured returns on affiliate packages? That’ll do it.
The NWorld stop and desist was issued on February twenty third.
At time of publication NWorld’s web site is operational. NWorld seems to be lively within the Philippines, Nigeria and the UAE.
NWorld’s official firm weblog hasn’t been up to date since 2018. The corporate is lively on FaceBook, nevertheless nothing has been posted since February twenty fourth, the day after the SEC’s stop and desist.
An NWorld enterprise presentation out there on the corporate’s web site is dated June 2019.
I went by means of the presentation and once more noticed nothing about assured month-to-month returns.
The EIPD declare they’ve video footage of Juluis Nolasco making the supply, so it should be a comparatively new addition.
In any occasion, hopefully the SEC’s stop and desist leads to refunds and an finish to NWorld’s funding fraud.
