NWorld securities fraud cease and desist from Philippines

The Philippine Securities and Exchange Commission just shut down NWorld for peddling unregistered securities with guaranteed returns.

On February 23rd, the SEC's Enforcement and Investor Protection Department issued a cease and desist order against AlphaNetWorld Corporation, which operates under the name NWorld, and its president Juluis Allan C. Nolasco. The company was engaging in the sale and offer of unregistered securities without a license.

NWorld had morphed into something dangerous. The company was selling investment packages that promised member-investors NWorld products plus guaranteed monthly returns of up to P127,000. That's where it crossed from supplement MLM into outright securities fraud.

The EIPD's investigation didn't rely on paperwork alone. Product Specialist Richard Domingo walked investigators through how the scheme worked, explaining and demonstrating the investment packages to regulators. The SEC has video footage of Nolasco himself making these guaranteed return offers.

This wasn't always the case. When BehindMLM reviewed NWorld in 2017, the company was just another personal care and nutritional supplement MLM operation. It had the typical pyramid scheme red flags—little retail focus, heavy emphasis on recruitment—but there was nothing resembling an investment opportunity.

Somewhere between 2017 and now, NWorld's business model shifted. A business presentation dated June 2019 on the company's website contains no mention of guaranteed monthly returns. The guaranteed return pitch appears to be a more recent invention, which explains why it didn't show up in the older materials.

At publication, NWorld's website is still up and running. The company operates in the Philippines, Nigeria, and the UAE. But there's a telling silence: the official company blog hasn't been updated since 2018, and the Facebook page went dark on February 24th—the day after the SEC's order hit.

The cease and desist order is direct and unambiguous. Nolasco and AlphaNetWorld are ordered to immediately stop selling or offering unregistered securities. The question now is enforcement. NWorld members who sank money into these investment packages expecting guaranteed returns may have lost it all. The real test will be whether the SEC can force the company to make investors whole, or whether this order simply drives the operation further underground or across borders.

🤖 Quick Answer

What action did the Philippine Securities and Exchange Commission take against NWorld?

What type of fraudulent activity was NWorld conducting?
NWorld was selling investment packages that promised members guaranteed monthly returns up to P127,000 alongside NWorld products, constituting securities fraud rather than legitimate multi-level marketing operations.

Who were the targets of the SEC enforcement action?
The cease and desist order targeted AlphaNetWorld Corporation, operating under the commercial name NWorld, and its president Juluis Allan C. Nolasco, both engaged in unauthorized securities sales and distribution.

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