In an advisory dated April 29, the SEC said that WOW Company was registered in its database as a partnership. As such, it was not authorized to solicit investments from the public as it did not secure prior registration and license to do so.
The SEC said these acts make the group “liable for the unauthorized public offering of securities and the misrepresentation committed in connection with such public offering.” “The department received various e-mails inquiring or reporting about [WOW Company] and its alleged investment-taking activities promising a guaranteed return on investment,” the commission said.
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