More World Financial Group Scam Lies

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Posted by Xwma (150.210.161.157) on March 16, 2003 at 14:06:49:World Financial Group SCAM Exposed AGAIN!
MY STORY: The Power of ONE pissed off BITCH - WFG Style
I was still part of the WFG scam a few weeks ago. But when my up line from New York began mentioning the Devilz postings on the web, I had my suspicions and began to conduct my own investigation. I confronted my Ceo Marketing Director about it. He couldn’t fully explain the May 2000 Money Magazine article to me, why he was in it, or even the Devilz postings. He couldn’t even explain how his name even got on that list!!! I guess the FAKE WFG UNIVERSITY didn’t teach him how to LIE about that yet. Two weeks later, WFG fired me for being incompetent of my duties at the firm. REMEMBER THE POWER OF ONE wfg puke SPEECH??? Well they say a woman scorned is bitch. Can you feel my wrath? Here comes the BITCH SLAPS!!!
LOSS of FAMILY and FRIENDS
“DO YOU WANT ALL YOUR FRIENDS AND FAMILY TO HATE YOU, ALIENATE YOU, OR TALK BAD ABOUT YOU BEHIND YOUR BACK???”
I use to be an aggressor in the WFG SCAM. My top 25 List was the best. My up line thought us how to lie and fudge the truth. One of my friends who use to be in AMWAY
Told me the “PHONE ZONE” was a direct copycat of AMWAY’s way of recruiting. And the WFG SCAM is always bitching about GIVING AWAY TRADE SECRETS. More crock. More BS! So who is stealing who’s trade secrets AGAIN???
And also those new and improved “Brain Storming Sessions” are actually training sessions for: “HOW TO LIE AND SCAM YOUR POTENTIAL VICTIM!”
Its so damn sad to see this kinda “training”. Its just how to lie, cheat, scam, swindle,
Create bogus stories, lie about how great the company is, just to sell some filmsy product.
“Yes we have more workers than Morgan Stanley.” Who the hell cares, at least when you do a search on them you don’t get all this bad shit crap back!
I have now told all of the people who I sold policies to, to cancel their policies. I have family and friends who don’t call or contact me anymore because they read about the WFG SCAM in Money Magazine and in other foreign papers.
The really messed up part is that I got a call from one of my friends on my last Top 25 Lists. They told her that I told them to contact her because I told them I wanted her to buy a VUL. This was the last last straw. Time for revenge.
WHY CAN”T WE TELL THEM ABOUT OUR COMPANY?
“Don’t tell them the NAME of our company. Just LIE to them about our BOGUS open houses. The SUCKERS will come…” - Richard Lam WFG ass kisser
The Devilz had made a very good point. People now these days are smart, they make a GOOGLE search on every company before investing into it. The WFG SCAM has so many victims and bad press that we are training to ENTICE the prospect in coming to one of our FALSE OPEN HOUSES. The meeting is all just a flimsy-shove-it-down-their-throats sales pitch.
WHY DID WMA SECURITIES CHANGE ITS NAME???
“WMA has gotten a bad rep from people who couldn’t cut it. Those 1,000 complaints
filed with the Better Business Bureau means NOTHING. You have to SCAM people in order for them to learn…” - Pai Yan Chung – Another WFG moron
It was all about the bad publicity. WMA Securities had scammed so many people that when Aegeon bought the company, they had to change the name. But what makes a neighborhood bad? It’s the people. GREED is what runs the WFG SCAM. People looking to make a quick buck. It’s not about creating wealth for families; it’s about putting them in poor houses in 5 years. Aegon paid Hubert to step down. But the remaining top coach roaches stayed.
THE pathetic WORLD LEADERSHIP GROUP SCAM
“Ripping people off is a habit. Making money is the only goal. Creating wealth for families is sham you say to make them feel as ease. THEN YOU ROB THEM BLIND!…” Hubert Humphrey – man who create an empire from his Trailor Home
Hubert Humphrey may be a dumb and slick redneck, but he knows what money can buy.
With enough money you can clone any type of business. He still has ties to the WFG SCAM when he is not supposed to. And exactly how many people run the WLG SCAM website, only 1 person. Isn’t that just sad? Jimmy George – never trust a white dumb red neck that has two first names.
WHY DID THE NASDA CLOSE DOWN www.WMAS.com???
“Whaaaa WMAS.com??? Neeva heard of it! And I did int rob anybodies downlines! “
- David Pham WFG Baby Killer
This is never supposed to be discussed at the WFG SCAM. If you even open your mouth about why they closed the World Marketing Alliance Scam down or even mention about the Money Magazine article you will be looked down upon and spited. In the end, WMA Securities were scamming so many people, the Better Business Bureau found over 900 complaints fined against them, and WMA disavowed any knowledge of those complaints.
The DEVILZ fiery Group and Postings on the WFG SCAM
“What they said about me being a whore in the company are all lies! (Wipes her chin).”
- Dao Troung - The Dao Exchange Goes Up & Down Up & Down Just like her head
This single group has caused wide spread disaster to the WFG SCAM franchise. Their postings have been viewed by over 10,000 people and growing! In a secret up line meeting, it has been estimated that they caused about 6.7 million dollars in loss of recruits, cancellation of policies, massive Arthur Andersen style document shreddings, and fear of investigations.
All due to some of these simple postings:
World Financial Group Scam Names and Addresses
http://www.xuviet.org/help/business/239.htm
World Financial Group SCAM WMA Securities SCAM The Hunt for the DEVILZ!!!
http://www.xuviet.org/help/business/238.htm
World Financial Group SCAM LYING to their Own People!!!
http://www.xuviet.org/help/business/237.htm
World Financial Group SCAM BETRAYED by their OWN!
http://www.xuviet.org/help/business/236.htm
World Financial Group SCAM Rich JackAss Poor DumbAss
http://www.xuviet.org/help/business/235.htm
WFG Scam WMA Scam PROSTIUTION WMA WFG Las Vegas Convention
http://www.xuviet.org/help/business/234.htm
WFG SCAM WMA Securities SCAM The Hunt for the DEVILZ!!!
http://www.xuviet.org/help/business/230.htm
WFG WMA WLG GPH New Scam Canada Office
http://www.xuviet.org/help/business/222.htm
Even our Ceo Marketing Director who screeches about how badly he wants to be FVC has spoken in public about this group. It appears that the DEVILZ group were trained and had infiltrated the New York City branch and spread right under their noses.
The WFG SCAM has offered numerous amounts of money just for a link as to who was behind their leak of information and sources. It has been rumored that this group had infiltrated the heart the WFG SCAM. They were paid to be trained by the BEST of the WFG SCAM. David Pham, Xuan, Penny Ooi and even Andy Nyguen. And if you IDIOTS read close enough they were SCAMMING WFG, the same people who are scamming poor families. Justice is a BITCH isn’t it?
How does the WFG SCAM feel being assassinated by the same members they’ve trained? Pretty stupid I guess.
HOW DID THE DEVILZ GROUP GET ALL THOSE NAMES AND ADDRESSES???
“How the hell did they get our addresses and social security numbers!? Now everyone I have SCAMMED will know where I live!” - Oscar Lee – Another Dumb Piece of WFG SH!T


http://www.100insurers.com/wwwboard/messages/8826.html

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Referring to this particular and famous list:
Executive Marketing Director WFG SCAM WMA SCAM George "Dutch" Aufderheide
: 501 RIVERSIDE DR (203) 254-2043
: FAIRFIELD CT 06430-6963
: Senior Marketing Director WFG SCAM WMA SCAM John Balcerzak
: 16264 E HYDE PARK PL (480) 837-8677
: FOUNTAIN HILLS AZ 85268-2741 294-44-xxxx Dec 04, 1957
: CEO Marketing Director WFG SCAM WMA SCAM Steven Cao
: 16264 E HYDE PARK PL (480) 837-8677
: FOUNTAIN HILLS AZ 85268-2741 294-44-xxxx
: CEO Marketing Director WFG SCAM WMA SCAM Erich Colet
: 3272 RAVENSWOOD WAY
: SAN JOSE CA 95148-2820 609-26-xxxx Dec 14, 1956
: Field Vice Chairman Dean Fliss
: N 51W 35621 BAY RIDGE CT OCONOMOWOC WI 53066
: 388-66-xxxx Sep 10, 1952
: National Marketing Director Les Korchinski
: 5013 148TH AVE M207 NE BELLEVUE WA 98007-7836
: 533-29-xxxx Jun 14, 1942
: National Marketing Director Laureano Peralta
: 438 FIRECREST AVE PACIFICA CA 94044-1729
: (650) 355-7461
: 560-81-xxxx Jul 03, 1964
: Senior Marketing Director John Saldutte
: 1516 S ARROYA CIR MESA AZ 85206-6755
: 528-25-xxxx Feb 28, 1963
: Senior Marketing Director Bart Balikyan
: 111 N MANHATTAN PL LOS ANGELES CA 90004-4015
: 617-32-xxxx
: National Marketing Director Michael Bamgartner
: 2777 WILD MARE WAY HEBER CITY UT 84032-4164 (435) 657-0046
: 529-06-xxxx Feb 08, 1962
: National Marketing Director Anthony Gurrieri (lying Italian)
: 16 WILLIAM LN OCEAN NJ 07712-3729 (732) 643-8544
: 059-44-xxxx Jul 04, 1954
: National Marketing Director Lydia Legaspi (pending arrest warrant)
: 19 BLACKSMITH CIR POMONA CA 91766-4805
: (805) 483-4020
: 556-55-xxxx Nov 23, 1951
: Field Vice Chairman Jeffrey Levitan (has AIDS)
: 1596 CLEMSON DR NAPERVILLE IL 60565-1675
: 339-74-xxxx Oct 26, 1970
: CEO Marketing Director Pai Yen Cheung (Dutch Fob)
: 3 Rory Ct
: Edison NJ, 08820-1200
: 732-382-8018
: Penny Ooi (she-devil)
: 608 DUNDEE AVE MILPITAS CA 95035-3913
: 358-78-xxxx 1966
: PMD Michael Zhang (bisexual /homosexual)
: 125 Bay 38th St.
: Brooklyn NY 11214
: 718-714-9122
: 838 47th St
: Brooklyn NY 11220
: 718 656-8201
: Dao Truong (office whore)
: 087-70 xxxx
: oct 26, 78
: 737 E. 187 th St.
: Bronx, NY 10458
: Oscar Lee (homosexual)
: 072 64 xxxx
: may 3 79
: 6385 Woodhaven Blvd. 1C
: Rego park NY 11374
: 718 459 8190
: Oliver Pan
: 066 76 xxxx
: Nov 4 62
: 21729 50th Ave.
: Oakland Gardens, NY 11364
: Richard Lam (can’t keep his mouth shut and his wife satisfied)
: 223 Church Ave.
: Brooklyn NY 11218

Upon this list the DEVILZ group had obtained names, REAL social security numbers, REAL addresses, phone numbers, and REAL date of births of some of the top fraud leaders in the WFG SCAM. Mark and XWMA were not able to do this, but the DEVILZ did. At first executives in the WFG SCAM thought they were just a bunch of random posters.
And they did nothing to track them down. But the DEVILZ group and influence grew and grew. The cancer had already spread, it was too late to kill the disease. The DEVILZ group postings had entered into many minds of recruits and potential victims.
Their postings have become the #2 talked about posting since the Money Magazine article, and 3rd is Mark’s postings.
How does my Marketing Director live in such a beautiful home and drive a Mercedes???
“When you have a beautiful rented home and drive a fake car, they will join the business instantly! And its also easier to sell them a bloated VUL which they don’t need.” –
Michael Zhang – WFG gay Moron
It’s just one simple word: RENTED. Yes all those nice homes are RENTED. All those nice cars they pretend to drive are RENTED. I once was at my marketing director’s home in which he claims to been living there for over 5 years since he’s been with the WFG SCAM. I asked him what color was the floor tile in his bathroom was and he got it WRONG. I ran some car plates check on their cars as well. It appears that the cars are rented from a DEALERSHIP. Again they use FAKE RICHES to scam the poor and dumb.
HOW does the WFG SCAM Stay in business???
CANNIBALISM. Just like in the former ERON scenario. Enron repeatly told that the company’s stock performance was spectacular and encouraged its own employees to make more and more purchases of the company’s stock. How much is an Enron stock worth? You can wipe your dog’s ass with it now.
The WFG SCAM has done exactly that. Up lines preached and encouraged all of its members to purchase the WFG SCAM stocks. If you sold a lot of policies you were not rewarded with money but with more useless stock.
But like Enron who withheld and froze their employees stock while it kept on dropping, the WFG SCAM will do the same. Senior WFG SCAM executives will let employees who have stock in the company bleed to death on the market, while they sell their own shares first. History tends to repeat itself, but ignorant people don’t or can’t see it that way before its too late.
Even our Ceo MD in New York City yells at everyone for only making it on Top 50 as #23. Again he encourages everyone to buy aggressive the WFG SCAM STOCK, while he slowly dumps his off to the dumb FOBs and Red Necks.
Paying off the NASDA
Also there have been some Pay offs to some investigators. It’s called the Palm Pilot grease. The WFG SCAM Agent when confronted by an aggressive investigator from the NASDA, SEC, etc. First they offer them coffee and some pastries. Then they called the branch manager who shows up 1 hour later. If the agent finds any unscrupulous evidence, the branch manager should offer he or she a Palm Pilot “Gift”. Inside is actually a $5 grand bribe. Another WFG SCAM agent photographs the exchange. Even if the agent refuses the “gift”, the WFG SCAM already has documented records of the “transaction”.
The agent my fear losing his job and license and takes the bribe anyway.
KIND OF PEOPLE WOULD JOIN or POST BACK ON THE DEVILZ Postings
If you read all of the responses to any bad-mouthed WFG SCAM posting, it looks like
WFG recruits.

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UNEDUCATED WHITE RED NECKS who I can’t believe have an internet connection in a trailer home.
FOBs (fresh off the boat immigrants), people who speak very little or understand English.
YOUNG RECRUITS WHO HAVE CAR PAYMENTS.
CRIMINALS. That whole reference checking thing is a lie and a $100 in-my-own- pocket FEE.
GREED, people who want power, but were denied in the REAL WORLD.
LOSERS who have no real power in the real world like pencil pushers and fast food
Workers.
PEOPLE WITH LOW SELF ESTEEM.
RAPISTS : Yes there have been stories of young girls being lead to CONVENTION TRIPS, they get DRUGGED, RAPED and sometimes even GANG RAPED in their hotel rooms. WOULD YOU ALLOW YOUR DAUGHTERS OR WIVES JOIN SUCH A GROUP???
Yes there are even homosexuals and disease in the WFG SCAM. In the New York branch office, MICHAEL ZHANG WFG SCAM and OSCAR LEE WFG SCAM, have been know to be GAY and have had HOT GAY SEX inside the bathrooms of the office. And ALEX HUIPWEN WFG SCAM has a documented case of HERPES.
Most brain washed WFG SCAM recruits are very defensive about what they do. They have no open minds about discussions or an open debate. If a recruit loses a member they are trained that it was THAT PERSON’s fault that they could not cut it in the business. They are the LOSERS and we are the winners. But in reality, WFG SCAM agents are the future victims and those who leave or are smart enough to leave are the TRUE WINNERS.
They are BRAVE enough to stand up against the opposition. Acknowledge the TRUTH that has been presented. And have the GUTS to leave before WFG SCAM house of cards comes tumbling down.
WHAT CAN I DO TO STOP THIS SCAM and INJUSTICES???
Well you can post anonymously in a secured internet zone what we have already posted here on to other message boards. You can email this to your family and friends and warn them about this WFG SCAM.
Remember, THE POWER OF ONE! One person can make a difference. One person can change the world. And one person can inform others of this deadly WFG SCAM. But you have to do your part. You have to spread the word. A little helps a lot! If you post 1 of our messages on other message boards, in 30 different boards, 1 each day, your 5 minutes of help each day can save thousands, and even millions of families from the WFG SCAM. And those people will tell 10-30 more people, and our message spreads thanks to YOUR HELP!
What other sources besides the Exposing May Money Magazine 2000?
Well the December 2002 Business Week is another example:
Section I: Whistleblower Information
: Following are quotations are from the December 16th 2002 BusinessWeek article Year of the Whistleblower by Paula Dwyer, Dan Carney, Amy Borrus, Lorraine Woellert and Christopher Palmeri. A link to the full article is provided on this page.
: This year, dozens of ordinary people have been put in extraordinary positions throughout Corporate America,...Behind the scenes, they have all played a critical role in providing enforcers with virtual road maps around complex accounting maneuvers. "Whistleblowers give us an insider's perspective," says Linda Chatman Thomsen, the SEC's deputy director for enforcement, and have advanced our investigations immeasurably(page 107, paragraph 4, in the actual magazine
: article)."
: It would not be too glib to call 2002 the Year of the Whistleblower. The spectacular blowups at Enron and WorldCom have sensitized employees to the devastation caused by corporate crime. That has helped create a "do the right thing" culture in which employees believe they have little choice but to ring the alarm when they suspect misconduct, despite potentially high personal costs. Watkins and Cooper have helped recast whistleblowers from crackpots to national champions, says Stephen Meagher,
: a former federal prosecutor who represents whistleblowers(page 107, : paragraph 5).
More important, the landmark Sarbanes-Oxley Act of 2002 gives those who report corporate misconduct sweeping new legal protection. An executive who retaliates against a corporate whistleblower can be held criminally liable and imprisoned for up to 10 years(page 107, paragraph
: Corporate lawyers also have special responsibilities under the new law. If they come across evidence of misconduct, they must report it to top management. If there is no response, the lawyer must report higher up the line, to the board. The aim is to prevent lawyers from sitting idle--and claiming attorney-client privilege--when they see laws broken(page 108,
: paragraph 2).
…A prime example of Whistle Blowing is from a group know as the DEVILZ. This group’s email postings against the World Financial Group Scam has been published in over thousands of business message boards across the nation. Representatives from WFG have refused adamantly about their shady insurance practices…
HOW DO I FIND MORE ABOUT THE WFG SCAM?
I order to find more information regarding this scam, just go to GOOGLE.COM, and type in WFG SCAM or WMA SCAM. That’s how those dumb recruits found out about the DEVILZ groups postings, they typed in WORLD FINANCIAL GROUP in the search engine and were “CURIOUS” as to what they would find there.
But to their shock, they found the DEVILz. But many of those WFG SCAM agents had invested too much time, lost too many friends, and already sold their souls to the WFG SCAM. So in order to protect their “investment” they use reverse psychology against those postings.
Even if you were to do a normal search on these companies, there are more negative things about the WFG SCAM than anything good. If the WFG SCAM was such a good company then why was the WMAS.com site closed down by the NASDA??? Why did the May 2000 Money Magazine discussed so many bad faults about the WFG SCAM???
Ask any WFG SCAM agent what has been published on this posting. I am sure they will just ignore you or get mad and yell at you. YOU CAN”T ESCAPE THE TRUTH, YOU CAN ONLY LIE ABOUT IT!!!
www.XWMA.org
This little site is the # 1 thorn in the WFG SCAM’s side. Its site which has NOT been shut down and has provided hundreds of thousands of people with information about the WFG SCAM. The WFG SCAM has been very unsuccessful in shutting them down. Ask any WFG SCAM agent why this site is still up. Ask about everything that is posted there. See what there responses are. But be aware, these agents have been brain washed and trained how to answer “bad rep” questions. One white red neck from the NY branch office that had been trying to sell my friend a VUL, when asked about the XWMA, his jaw dropped and he told her he couldn’t speak English. A white dubba red neck I quote again!
WANT MORE PROOF????
Courtesy of www.XWMA.org
June 2002 GPH announced withdrawn of $100 millions IPO due to "unfavorable market conditions".
May 2002 NASD fined WMA $200,000 for violation of unapproved advertisements and sales literature rules. www.WMAS.com was completely shut down! http://www.nasdr.com/pdf-text/0206dis.pdf
April 2002 xWMA founder, Hubert Humphrey started "World Leadership Group", WLG for new scheme.
http://www.WLGWeb.com
April 2002 WMA Securities, Inc. (WMAS) was ?sold? to World Group Securities, Inc., (broker for World Financial Group, WFG) a subsidiary of AEGON Asset Management Services, Inc.
March 12, 2002 GPH named Edward F. McKernan as CEO. He was a Senior Manager in the Life Actuarial Consulting Practice of KPMG LLP, an auditing company for WMA and GPH.
March 1, 2002 Jennifer and Matthew Fletcher, WMA/WFG EMD, are accused of murder in the 1998 death of her former husband, Joel Shanbrom in CA.
http://www.xwma.org/mattfletcher.html
February 2002 GPH filed for $114,000,000 common stock IPO. http://www.sec.gov/Archives/edga ... 01768/g74145s-1.txt
Early 2002 NMD Tam Luong was forced to give up all his downlines, mostly in Southern California, including FVC John Pham, CEO MD David Pham, CEO MD June De La Cruz, SMD William Jacinto, SMD Tony Carungay, EMD John Cordero, CEO MD Sunny Leung. SVC Xuan Nguyen has long been fighting with Tam Luong for "not helping enough" to his downlines or "participate" in the business.
Year 2001
December 28, 2001 Founder Hubert Humphrey resigned as CEO and Chairman from WMA.
Year 2001 Charles R. Miller et al v. WMA Securities, Inc., 2nd Class Action Lawsuit filed in Texas.
http://www.xwma.org/classaction2.html
October 22, 2001 Law firm Wolf Haldenstein Announces Class Action Lawsuit Against WMA Securities, Inc.
http://www.xwma.org/classaction.html
September 27, 2001 WMA Corporation changed to Global Preferred Holdings, Inc., get ready for IPO in February 2002 with a new name.
August 2001 www.xwma.org was permanently secured and served all xWMA/xWFG, and World Leadership Group agents and victims.

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July 28, 2001 Computer virus sent by WMA agents to xWMA agents emails.
June 26, 2001 SEC fined WMA agent, Jeffrey A. DeVille from Clearwater, Florida for fraudulent bank debenture trading program of over $1,000,000 of unregistered securities in "Private Pool".
http://www.sec.gov/litigation/admin/34-44474.htm
June 29, 2001 SEC Sentenced Terry Koontz and others, WMA Agents to Prison.
http://www.sec.gov/news/digest/06-29.txt
January 24, 2001 www.xwma.tripod.com site was first launched in Tripod.com. Due to the complaint from WMA, it was shut down after 30 days. Year 2000
Duluth Office Intimidation (Whipsuit) (disconnected)
NASD Disclosure Report
WMA Reports filed to SEC
September 28, 2000 SEC fined WMA agents for selling fictitious prime bank instruments in a $19 million offering fraud.
http://www.sec.gov/litigation/litreleases/lr16736.htm
October 30, 2000 Nevada Secretary of State Settles Action against WMA Securities for more than $1,080,000 in restitution. http://sos.state.nv.us/securities/press/10300.htm
August 2000 NASD fines WMA Securities, Inc. $125,000 for failure to report nearly 900 customer complaints.
http://www.nasdaqnews.com/news/pr2000/ne_section00_185.html
August 2000 NMD Becky Chen was forced to resign from WMA by his upline CEO MD David Pham. In the following two months, more than 40 licensed agents under Becky Chen resigned from WMA. Since then, David Pham and his brother John Pham have lost more than 50% of their business.
July 2000 Kevin Palmer, VP, Chief Compliance Officer, required all licensed agents, 1 sale every 6 months, $5000/year minimum personal commission, not including override. No more $750 training reimbursement. Unlike before, no trainee allowed pushing for the sale.
June 30, 2000 Two Couples Allege Deceptive Sales Practices by WRL.
http://www.findarticles.com/m4PRN/2000_June_30/63065887/p1/article.jhtml
June 14, 2000 Prudential and AEGON USA sued over deceptive annuity sales pitches.
http://www.insure.com/annuity/prudentialaegon600.html
June 2000 Hubert Humphrey held mandatory and confidential ?Leadership Session and Compliance Meeting? with all Senior Marketing Directors and up in Las Vegas. This was an emergency meeting to battle the widespread of investigations and bad publicity of WMA.
May 10, 2000 California Department of Corporation filed ?Cease and Desist? Order against WMA.
http://appellatecases.courtinfo.ca.gov/search/mainCaseScreen.cfm?dist=1&doc_id=4316
May 2000 WMA Compliance Department notified all agents to discard the selling brochures, "The Revolution Brochure" and "The Crusade" Brochure. WMA is known to use unapproved sales literatures to recruit and sales.
May 2000 MONEY Magazine issues article, "Hubert Humphrey wants to sell Middle America loads of gimmicky, high-cost investments through an army of part-time brokers." www.xwma.org/money.html
April 4, 2000 State of Arizona has fined WMA $1.9 million for improper supervising activities by the licensed agents. It only represents 50 clients filing lawsuits against the company. There are still another 190 clients pending lawsuits against WMA Securities, Inc. Arizona Securities Commission News Release April 4, 2000
March 7, 2000 WMA lost the case in Montana State Labor Department in ?Independent Contractor? lawsuit by former agent in $5,500 wage claim. http://www.investmentnews.com/story1.shtm
January 17, 2000
Investment News--SEC Probe Targets WMA--Jan. 17, 2000
Early 2000 First CEO MD/Field Vice Chairman, Dean Nguyen, resigned from WMA for "personal reasons". Dean Nguyen and his team had been working closely with Hubert Humphrey in the internet business plan.
Year 2000 State of Florida also investigated WMA agents' "Selling Away" compliant.
Year 2000 State of Massachusetts investigates WMA regarding ?selling away?. 15 clients bought promissory notes from WMA agents and lost ? millions dollars. WMA promised to reimburse and returned money to clients. WMA also put additional funds for future escrow in case future victims might come up.
Year 2000 State of Missouri investigated WMA recruiting system.
Year 1999
December 9, 1999 WMA agent, Ping Wang from San Jose was reported missing and found death.
http://www.metroactive.com/papers/metro/01.20.00/wang-0003.html
November 24, 1999 SEC in Fort Worth, Texas Sentenced WMA agents to prison for $16.5 million of fraud.
http://www.xwma.org/secsentence.html
July 2, 1999 Ohio Division of Securities filed Cease & Desist Order against WMA.
Ohio Division of Securities--Cease & Desist Order July 2, 1999
Ohio Division of Securities--Cease & Desist Order July 8, 1999
Ohio Division of Securities--Cease & Desist Order August 25, 1999
Ohio Division of Securities--Cease & Desist Order Sept. 7, 1999
Ohio Division of Securities--Final Orders Sept. 1999
Ohio Division of Securities--Cease & Desist Order December 28, 1999
July 1999 Investment News article, "Stock Cops Turn Eyes on Amway-Style Brokerage: Five Years Old, It Already Has 9000 Small-Town Reps."
February 26, 1999
CA University Credit Card Fraud (Use WMA Name) Feb., 26, 1999
Year 1999 A private placement 4,333,333 shares of common stock to institutional investors ($10 million) was not successful by WMA.
Early 1999 CEO MD Joe (Tuan) Trieu, under FVC John Pham and CEO MD David Pham, from Anaheim, CA was demoted twice and finally forced out of business. Joe Trieu was one of the MD wrote many fraudulent VUL applications for CEO promotion under the direction of his upline John and David Pham. John and David Pham are still in business as usual. Most of Joe Trieu's business was transferred to his former wife, Linh Truong.
Year 1998
November 24, 1998 Arizona Corporation Commission ordered WMA Securities, Inc. to pay $2,000,000 for not properly supervising their sales agents.
Arizona Corporation Commission Oders WMA to pay $2,000,000, Nov. 24, 1998
Sept. 17, 1998 SEC fined WMA for $19 million fictitious prime bank instruments fraud. http://www.sec.gov/litigation/litrelease/lr16736.htm
September 1998 The newly promoted (June 1998) CEO Marketing Director?Katherine Wang was demoted to regular MD because the NASD in Northern California has found illegally signing of variable universal life application by clients. Miss Katherine Wang is under another CEO--MD--Miss Penney Ooi (agent #9653T) in Santa Claria office. Also, the Senior Vice Chairman--Xuan Nguyen has been fined for improper supervising his people.
January 16, 1998 ARIZONA CORPORATION COMMISSION CRACKING DOWN ON UNAUTHORIZED SALE OF SECURITIES PRODUCTS by WMA agent.
http:://www.cc.state.az.us/news/PR01-16.htm
Year 1997
July 1997 WMA Agent--Marlyn Fularon (agent #2253T) wrote illegal and fraudulent VUL applications, some even with fake names, SS# and addresses. She got hundreds of thousands of dollars in advance commissions and disappeared. Her upline CEO MD--Chito Roxas (agent #1228W) was charged back for her advance commission. Later, Marlyn Fularon was fined $25,000 and was suspended for 2 years in 2000.
Year 1996
November 1996 WMA NMD, Janice Lo disappeared after late WMA meeting in San Gabriel, CA. No one in WMA is cooperating with the local police for the case.
http://www.xwma.org/janicelo.html

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From Late 1996 to Late 1998 CEO MD Club scam started by Senior Vice Chairman, Xuan Nguyen. Agents wrote illegal VUL applications to reach required promotional points for CEO MD level. Illegal VUL applications include forged applications, unsuitable VUL policies, non-licensed agents sales and illegal reimbursements, etc......
June 1995 $20,000,000 common stocks and $500,000 warrants of WMA Corporation were issued to its agents. All high level MDs were pushing the stocks to their downline agents spectacle for quick profits as it did for Primerica.
February 1993 Partner with WRL and AEGON selling VUL.
November 1991 Founded by Hubert Humphrey, formerly with Primerica. Message Boards and Related Sites:
Cam Web--Financial Investments Forum Bulletin Board
Rip-Off Report about WMA
Xuviet WMA Message Board
Primerica Message Board
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CFR(Code of Federal Regulations) 436
Consumer Federation of America--Life Insurance Evaluation Service
CULTS: Public Perceptions vs Research
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At the bottom, under ARCHIVES, enter keyword: WMA, and click SEARCH.
WMA/World Financial Group Message Board
(Inactive since end of Sept. 2001)
WMA/WFG/WLG Related Sites:
World Financial Group
WFG Operation Site
WMA Securities, Inc. (Shut Down by NASD))
World Leadership Group (New Company by Former WMA Founder--Hubert Humphrey)
Dotplanet (shut down their own message boards because thousands of people were posting the TRUTH about WMA SCAM each day)
AEGON
Zillionaire.com (Disconnected)
Agencies you can file complaints:
NASD
SEC
Arizona Department of Insurance
Arizona Corporation Commission Securities Division
California Department of Insurance
California Department of Corporation, Securities Regulation Division
California Attorney General Office
Florida Department of Banking and Finance
Georgia Securities and Business Division
Illinois Office of the Secretary of State, Securities Department
Missouri Office of the Secretary of State, Securities Division
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Other States Links--NASAA Member Websites
WMA recruiting philosophy is totally based on GREED. The GREED of prospective recruits to ?dream big? and ?make big money? in a very short time with residual income. The GREED of members to success no matter what it takes!
This was a neat trick that the DEVILZ group taught us. If you spam the following phrases enough, it will turn up on any search engine! And save many victims from this SCAM! Do your part! Stop these criminals! Remember the power of ONE!
AEGON Asset Management Services, Inc. SCAM World Leadership Group SCAM World Lending Group SCAM GLOBAL PREFERRED HOLDINGS SCAM
WRG Real Estate Advantage Scam World Realty Group Scam World Financial Group SCAM World Marketing Alliance SCAM World Group Securities SCAM
AEGON Asset Management Services, Inc. SCAM World Leadership Group SCAM World Lending Group SCAM GLOBAL PREFERRED HOLDINGS SCAM
WRG Real Estate Advantage Scam World Realty Group Scam World Financial Group SCAM World Marketing Alliance SCAM World Group Securities SCAM
Doesn’t it just suck when the WFG SCAM screws with the wrong people???
Now they do… - World Fraud Group Alliance
“Life is such a bitch when you screw over the wrong people.”

Test

The only reason I can honestly find that it's said online to be a "scam" is that there's a definite undercurrent of resentment that it's doing so well in the industry.   In about 18 years, it's exploded onto the financial services marketing field and it's now in the U.S., Canada, and China.  It's also revolutionized the way that financial products are distributed to middle class families - that's created some enemies along the way.  Some folks who've come aboard apparently think that just being in the company is somehow supposed to lead them to money (instead of actually realizing that it's a business opportunity and that you have to work to create something.)  Think of it this way - some folks buy into a franchise; it doesn't work for them - usually because they don't work or because of other reasons.  They walk away (at one point some forty years ago, you could find articles railing against the "scam" of franching and declaring that way of doing business "illegitimate."  

Does WFG have elements of MLM (direct marketing) in its business structure.  Yup, it does.  That's one reason it's been so successful (as have many of the individuals who've chosen to build in it as a career).  However, it's also got many differences from what many consider to be the classic MLM model (e.g., there are no quotas; no one has to buy anything; there is no money made from recruiting)

Many people today don't realize that 1099 income is likely going to be the wave of the future as traditional jobs move offshore and we move more to a service economy.   Anything to do with direct marketing (many folks don't realize that even some long time traditional companies now have direct marketing (MLM) sections of them) is going to become more and more prevalent in the next forty years.  I'm old enough to remember when franchising was proclaimed to be the downfall of America and illegal and quite honestly almost word for word all the crap that's being babbled about direct marketing today. Direct marketing is coming out of that stage now, as franchising did earlier and you're going to find that it will simply be an accepted way of doing business.  However, to return to the first part of your question - there are a lot of folks still who mix up direct marketing and illegal ponzi schemes at least on sites like this.

http://answers.yahoo.com/question/index?qid=20090308223930AAKplVv

bast2vvav

beijing,apple macbook pro spring 2010, nanchang,asus u36jc-b2b, january 13 (reporter wang jian ) beijing, correspondent 13 from jiangxi jiujiang municipal propaganda department was informed that the city's lotus镇党委委员fengmei jiang lushan area ,toshiba portege r700-s1312, together with others ,nikon d90, nine times in five years illegally selling land and housing related indicators ,nikon 18-200mm lens, illegal profit 1.0177 million yuan .

preliminary investigation by the commission for discipline inspection jiujiang ,toshiba a665, lushan district lotus镇党委委员the city ,sony vaio vpcf13wfx/b, armed minister fengmei jiang , together with others from august 2007 to october 2011 ,www.cheap-bestbuy.com, has nine times the illegal reselling of 9.26 acres of land and housing -related indicators for the nine urban residents to build private houses built illegally profit 1.0177 million yuan .

jiujiang municipal committee propaganda department informed that ,sony hdr-ux20, in september 2011 ,dell inspiron 14r, together with the town of lotus dragon feng meijiang village party branch secretary liaoxin lin ,sony s13egx/b, used his position to put the collective name of the property to relatives reported , taking the government relocation compensation 25.7 million. february 2011 to october ,htc touch diamond, fengmei jiang and others illegal illegal construction 10 and get the building ,dell nirvana 3750, get the building area of ​​4270 square meters ,sony vaio vpcf13wfx/b, illegal taking of relocation compensation .

up to now ,jvc gr-dv3000, were registered and investigated six people, three people were

beijing reporters learned that september 27,hp elitebook 8440p xt919ut, 2011 ,apple macbook mb467ll/a, internet users ,asus n53jq-xt1, million. jiujiang city commission for discipline inspection , said the case is still under investigation . (end )

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