A federal court has ordered Vincent Messina, his relative's company International Market Ventures, and PMX Jewels to return millions in stolen investor funds from the collapsed WCM777 scheme.

Messina, the ex-lawyer to WCM777's CEO, received $5 million in stolen funds about a month before the SEC shut down the operation. Court investigators discovered the transfer during their probe into WCM777's assets. The money came from Xu, WCM777's CEO, who also used PMX Jewels to launder additional funds through Africa.

Messina initially cooperated with the court-appointed Receiver, transferring $2.13 million into escrow. Then things got murky. He claimed a bank-issued check for $200,000 went missing. When the Receiver contacted his bank, they said no such check existed. For the remaining $2.68 million, Messina offered nothing but vague claims that it had been "disbursed for business purposes." He refused to provide details.

The court froze his assets. Messina's motions to dismiss and reconsider both failed.

On January 12th, the SEC filed for disgorgement, demanding Messina and IMV return the full $5 million. The deadline for Messina to respond was January 16th. Instead, he asked for more time and tried to push a scheduled hearing from February 9th to March 30th. The court denied both requests but agreed to rule without oral arguments.

Messina never filed an opposition. On January 26th, the SEC noticed his non-opposition. That same day, Messina's lawyer suddenly claimed she intended to file a late opposition, blaming a New York blizzard for the delay.

Judge Walter of the Central District Court of California wasn't buying it. The blizzard didn't hit until January 26th itself—ten days after the original deadline. The excuse crumbled in court.

Messina finally filed his opposition on January 28th. The SEC responded on February 3rd.

The ruling represents another victory for authorities trying to recover stolen funds for WCM777 investors. Between the court's skepticism of Messina's excuses and his inability to account for millions, the path to disgorgement appears clear.

🤖 Quick Answer

Who were the parties ordered to pay the WCM777 Receiver?
A federal court ordered Vincent Messina, his relative's company International Market Ventures, and PMX Jewels to return millions in stolen investor funds from the collapsed WCM777 cryptocurrency scheme to the court-appointed Receiver.

How much did Messina receive from WCM777's CEO?
Vincent Messina, the former lawyer to WCM777's CEO, received $5 million in stolen investor funds approximately one month before the SEC terminated the operation and froze its assets.

What suspicious activity occurred regarding Messina's cooperation?
Messina initially transferred $2.13 million into escrow but later claimed a bank-issued check for $200,000 went missing. When the Receiver contacted the bank, officials confirmed no such check had been issued.

**How was PMX Jewels involved

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