Watford Corp anonymous admins have put up what appears to be a fake SEC website closure notice
As AZCoin News reported, Watford Corp was suddenly suspended from the business because the SEC asked for an audit. However, after digging more deeply, it can be seen that this must be just a part of the exit-scam because the announcement they gave was a fake SEC announcement.
Watford Corp anonymous admins have put up what appears to be a fake SEC website closure notice
So far, the Watford Corp website is still inaccessible, has been offline for several days.
And the following message still appears:
“To the Securities and Exchange Commission, it seems that the public interest and Investor protection requires the suspension of trading in securities. Inc. (“Watford LLC”) out of concerns about the adequacy and accuracy of publicly available information about Watford LLC, including its financial condition and operations, if any, in light of the lack of stock listing on the NASDAQ communications service issuer whose share price has risen during the ongoing COVID-19 pandemic. The Commission believes that the public interest and investor protection demand the suspension of trading in the above company’s securities. THEREFORE, ORDERED following Section 12 (k) of the Stock Exchange. Law of 1934, according to which trading in the securities of the above company is suspended.”
According to some experts, it has never happened that the regulators have control over MLM company’s website domain. Hence, it is highly likely that this is a fake announcement that Watford Corp made. Moreover, the style, as well as the grammar in this announcement, is also extremely strange. In terms of language, this feels like a mess. Legally, Watford Corp was never registered with the SEC, Watford Corp never listed shares on NASDAQ and did not have Stock Exchange Law (1934).
The law that Watford Corp’s administrators attempted to refer to was the Securities and Exchange Act. And this law does not apply because Watford Corp was never publicly traded.
The use of multiple regulatory logos, two of which represent SEC, is also a suspicious sign.
The website’s announcement is accompanied by a September 28 video uploaded to the official YouTube channel of Watford Corp. In the video, the actor plays Richard Watford, the fictional founder of Watford Corp, reading a statement prepared to be written in broken English.
“[0:31] It is worth mentioning that the company registration procedure in the SEC is negatively affected our holding operation as a whole, and slow down its growth and development.”
The Watford actor said Watford Corp intends to file an opposition to the SEC but failed to show evidence of the SEC lawsuit. Furthermore, viewer comments on Watford Corp’s videos were turned off. In particular, Watford Corp had been involved in securities fraud since its launch last year.
Technically, the Watford Corp website domain still uses CloudFlare name servers. The domain registration itself has not changed as of July 2019. If US regulators do actually take over the domain, both of these details will be updated to reflect that.
Putting all of this together, the conclusion is simple; Watford Corp crashed, and their administrators did an exit-scam.
In Watford Corp’s marketing material, such as the video linked above, Richard Watford plays an actor with an English accent. In addition to the staged marketing videos, Richard Watford, as a representative, does not exist.
Thus, with so much evidence above, it is enough that this is a Ponzi project that is exiting scam no more and no less.
Read more:
- SEC Charges Against A Florida Businessman Who Scamming Investors Out Of $6.8 Million
- Companies Registered Overseas And Headed By Estonian E-Residents Have Been Involved In A Few Large-Scale Exit Scams