One of the pitfalls of Ponzi scheme investment is depositing funds directly with the scammer who recruited you.

In the event the Ponzi scheme is shut down by regulators, such transactions are difficult to track and typically result in a victim claim being disallowed.

Unfortunately more than a few WCM777 Ponzi investors deposited funds into the scheme via their uplines. They’re now learning the hard way that the decision will likely cost them thousands of dollars.

Mayra Hernandez

Mayra Hernandez identifies herself as a “victim of fraud”.

In October 2013 Nora Velasquez,  a friend of Hernandez, signed up as a WCM777 investor.

Hernandez acknowledges she was aware Velasquez was receiving ‘
commission and points (for) referring as many people (as) she could
‘, but eventually signed up under her anyway.

Hernandez was pitched WCM777 by Velasquez via a presentation, which she claims left her feeling it was “a solid company”.

Hernandez joined WCM777 and initially invested $2000. Shortly after she invested another $4400 ($2400 of which appears to be reinvestment of referral commissions).

To pay for her Ponzi investment, Hernandez loaned money from a friend.

Hernandez was told by Renato Rodrigues (who she identifies as “a leader”), that she had to pay cash directly to Velasquez.

Having deposited $4000 with Velasquez, Hernandez has no paper trail to track the $6400 she claimed to have invested.

Before WCM777 was shut down by the SEC in early 2014, Hernandez managed to recruit her mother ($4000) and two sisters ($2000 and $16,000).

Together, Mayra Hernandez’s family lost a total of $26,000.

None of Hernandez family members withdrew any money. Hernandez’s sister, Alexander Munoz, claims this was because she ‘
thought it was a good business or investment
‘.

German Velasquez

German Velasquez identifies himself as “a truck driver”.

In November 2013 Velasquez was approached by Jose Cuevas to invest in WCM777.

Velasquez claims WCM777 ‘appeared to be a legitimate investment’, so he invested $10,000.

The following week Velasques invested another $10,000. A month and a half later he invested yet another $10,000.

Velasquez is 61 years old and claims this money was for his retirement.

Velasquez paid cash firectly to Jose Cuevas and Rafael Prieto. Velasquez claims he was told

not to deposit the money directly to the company, because it would take a week longer to appear in the system.

Velasquez identifies his “upline leader” as Renato Rodrigues.

Carlos Esquivel

Carlos Esquivel identifies himself as a “workman worker” who fixes bicycles.

Esquivel was recruited ino WCM777 by Linda Mejia, Mayra Hernandez’s mother.

Esquivel claims he had $2000 saved ‘
in the event that either my family or I have an emergency
‘.

After being pitched WCM777 by Linda Mejia, Esquivel invested the $2000 ‘
to make it pay more
‘.

Esquivel invested the $2000 as cash paid directly to Mejia.

Esquivel has no record of where his money went, other than a bank statement showing

🤖 Quick Answer

What happened to WCM777 investors who deposited funds directly with recruiters?
WCM777 investors who deposited funds through their uplines face significant difficulties during claim processing. Such direct transactions are challenging to track and verify, resulting in most victim claims being disallowed by regulators. This decision typically costs affected investors thousands of dollars in unrecovered funds.

Why are direct deposits with recruiters problematic in Ponzi scheme cases?
Direct deposits bypass official transaction records, making them difficult to authenticate during regulatory investigations. Without proper documentation and traceable payment channels, financial authorities cannot verify these transactions occurred legitimately, leading to claim denials despite victims' losses.

How did Mayra Hernandez become involved in WCM777?
Mayra Hernandez was recruited into WCM777 by her friend Nora Velasquez in October 2013. Although Hernandez was

🔗 Related Articles

- SEC file $23.5M Wings Network Ponzi scheme lawsuit
- $48 million clawback lawsuit filed against Traffic Monsoon scammers
- BidForMyMeds threaten legal action over review
- 12 The Traders Domain net-winners settle with Receiver
- Sann Rodrigues claims he doesn’t speak English…