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The Philippine SEC has issued a regulatory cease order against NWorld.

According to the SEC, NWorld is a subsidiary of AlphaNetWorld Corporation. AlphaNetWorld and NWorld are both based in the Philippines.

The SEC’s letter was sent by its Enforcement and Investor Protection Division (EIPD).

The order specifies:

“AlphaNetWorld Corporation, doing business as NWorld (and) its president, Juluis Allan C. Nolasco… must promptly cease selling and/or offering unregistered securities.”

We evaluated NWorld in 2017. We discovered “a typical personal care/nutritional supplement offering.”

NWorld did have a lack of retail emphasis, which lends itself to becoming a pyramid scam, but at the time, I didn’t see anything like an investment potential.

NWorld’s MLM offer appears to have altered after our evaluation.

The EIPD investigation revealed that NWorld (AlphaNetWorld) sells and offers securities to the public without the appropriate Commission license.

According to the EIPD, Nworld is selling/offering investment packages that entitle member-investors to Nworld products and a guaranteed monthly return of up to P127,000.

Mr. Richard Domingo, one of Nworld’s Product Specialists, verified this information, examplaining the company’s investment-taking actions to EIPD inspectors.

A multi-level marketing organization that offers guaranteed profits on affiliate packages? That’s not a new story.

NWorld operates in the Philippines, Nigeria, and the United Arab Emirates.

The official corporate blog of NWorld hasn’t been updated since 2018. The firm is on Facebook, but nothing has been posted since February 24th, the day after the SEC issued its cease and desist order.

A June 2019 NWorld business presentation is accessible on the company’s website.

I read over the presentation again and found no mention of guaranteed monthly returns.

According to the EIPD, they have video evidence showing Juluis Nolasco making the offer, so it must be a recent addition.

In any case, the SEC’s cease and desist order should result in reimbursements and the end of NWorld’s investment scam.

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