15th May-2014, SEC announce to the world about Wingsnetwork have been operations Ponzi Schem business with the business model same Telexfree.
After SEC announce Wingsnetwork decided to suspend its operations in US and announce to investor with promised as bellow,
GLOBAL PRESS
WINGS NETWORK informs its Members and the general public that due to questions about its business model, made by the Secretary of the Commonwealth of Massachusetts - Securities Division (SD), the company will suspend the marketing of its products in the United States of America, until the given answer from this U.S. authority.
We are taking every precaution to resolve the issue. We are sure that the Securities Division’s response will occur after the 5th of June, when we will have the chance to explain all information about the activity.
We inform that this ongoing issue is possibly sue improper dissemination of activities by our own Members, when building their networks. This is what possibly caused improper information to be passed on about the profitability of this business, which are not even offered, as can be seen at the business plan and at the WINGS NETWORK regulations.
Accordingly, to guarantee the business interests that ultimately reflects the same interests of our Members, WINGS NETWORK will remain vigilant to censor any act contrary to our company policy, as well faithful to the application of our Code of Ethics.
Finally, we believe the time is also positive, since the question presented to the most reputable U.S. agency becomes an opportunity for us to demonstrate the seriousness of our activity that is developed and maintained in continuous improvement.
The response of the respectable Securities Division to the world will be emblematic, since, at present, the concern from control agencies in face of companies that promote their sales activities using Multilevel Marketing technique precede the critical analysis about the legality of their business.
Therefore, waiting that the Securities Division’s analysis finds the WINGS NETWORK's commitment with the implementation of our own principles and laws, we expect to receive the declaration of parameters that ensure all companies the maintenance of Multilevel Marketing technique as a way to facilitate the supply of good products to consumers.
For this purpose, constructive and integrated with the work of its members, WINGS NETWORK will surely establish itself in the market as one of the strongest companies in the industry.
22/05/2014
CARLOS BARBOSA
CEO WINGS NETWORK
This is the lesson learn for people around the world have to consideration making before decided to join with any MLM companies in the purpose get high income.
Massachusetts Secretary of State (USA) William F. Galvin said.
“We had heard from some investors who, in light of TelexFree, had become concerned — and we’re concerned.’
Replied to the question from news agent, asked about the management team and responsibility, they will charge by law and can arrest or not?
William F. Galvin said, Yes, this process will follow and we will cooperate with Portugal authority to investigate and will invite management team to declare abut what they do, if we found big mistake will bring this case to court and will arrest any one or all who related.
Filed on May 15th, the SEC Filed a complaint in order to commence an adjudicatory proceeding against Wings Network.
Defendants in the complaint are:
- Vinicius Aguiar – Wings Network affiliate.
- Grupo International – front company, owned by Vinicius Aguiar.
- Sergio Tanaka – owner of TropikGadget with Josefar de Soussa Silver.
- Geovani and Priscila Bento – Wings Network affiliates who ran hotel presentations for the company and engaged in door-to-door promotion.
- TropikGadget – company behind Wings Network with a PO Box in the UAE (TropikGadget FZE, owned by Narendrakumar Mansukhlal Modha) and physical address in Portugal (TropikGadget Unipessoal LDA).
- SuccessWealth 101 Inc. – owned by Geovani and Priscila Bento, with Geovani serving as President, Secretary, Treasurer and Director.
Mr. Sergio Tanaka who president of wingsnetwork and Mr. Carlos Barbosa appear to escape from their responsible while all investor asked thousand of questions by sent mail to company communication and support bellow address,
Wingsnetwork Support tiket,
-support@wingsnetwork.com
-cancel@wingsnetwork.com
Regarding to investors concern about their money, The leaders at Russian and USA they said, they will filling complaint to SEC again and Portugal authority as well.