Scam Alert! The Securities and Exchange Commission (SEC) to shutdown get rich quick scams.
These companies are NOT REGISTERED with the Commission and OPERATE WITHOUT THE NECESSARY LICENSE AND/OR AUTHORITY to solicit, accept or take investments/placements from the public nor to issue investment contracts and other forms of securities defined under Section 3 of the Securities Regulation Code (SRC).
Please see the list below if illegal entities:
1. OMG (One Market Global)
The Commission has detected that a certain Mr. July Macapas has been offering investments in OMG’s packages thru his Facebook page, while a YouTube uploader named “Pambansang Samaritano” has been offering the same packages in his YouTube channel.
Based on information gathered by the Commission, the packages for the investment plans of OMG are as follows:
As shown above, OMG promises a return of 5.88% – 6% daily or 176% to 353% for 30 to 60 days depending on the type of “opt. plan” chosen by the investor. Source..
Allegedly, OMG (One Market Global) is registered with the Department of Trade and Industry (DTI) with the business name of ON. MA. GLO. MARKETING issued to Albert Almeda Gonzales. However, per records of the Securities and Exchange Commission, OMG (One Market Global) is not registered with the Commission as a corporation or partnership and has no secondary license to solicit, accept or take investments/placements from the public nor issue investments contracts and other forms of securities defined under Section 3 of the Securities Regulation Code (SRC). Likewise, July Macapas is not registered as a broker in securities, neither as a market professional as a salesman, trader, investment company solicitor, or associated person.
2. ELITE ONLINE SYSTEM/ELIT3 ONLINE SYSTEM/EOS
Information gathered from online sources and reports from the public show that ELITE ONLINE SYSTEM/ELIT3 ONLINE SYSTEM/EOS is employing the same schemes and is being managed by the same person or group of persons
operating the TEACHERS FINANCIAL COACHING PROGRAM (TFCP)/TEACHERS FINANCIAL FREEDOM PROGRAM (TFFP)/ELITE
TEACHERS FINANCIAL PROGRAM (ETFP)/TEACHERS FINANCIAL PROGRAM (TFP), against which an Advisory has been issued by the Commission on 10 January 2020.
The investment schemes being employed by the subject entity involved enticing the public to invest a minimum amount (e.g., Php115,000.00) or assist them to obtain a loan from a bank for the said amount in exchange for products and checks of lesser value. Training seminars on financial literacy and promises of a debt-free life, double net pay, owning a car, travel with family, insurance and savings in the bank are likewise offered under these schemes. The usual victims of these scams are public school teachers, military personnel, police officers, OFWs, and other professionals. Source..
The public is hereby informed that ELITE ONLINE SYSTEM/ELIT3 ONLINE SYSTEM/EOS is not registered with the Commission and is not authorized to solicit investments from the public, not having secured prior registration and/or license to sell securities or solicit investments as prescribed under Section 8 of the Securities Regulation Code (SRC).
Those who act as salesmen, brokers, dealers or agents of the said entity in selling or convincing people to invest in the investment scheme it is being offered including soliciting investments or recruiting investors through the internet
may be held criminally liable under Section 28 of the SRC and penalized with a maximum fine of Five Million Pesos (Php5,000,000.00) or imprisonment of Twenty One (21) years or both pursuant to Section 73 of the SRC
3. THE FILIPINO FINANCIAL BREAKTHROUGH PROGRAM/FINANCIAL BREAKTHROUGH PROGRAM
Based on reports from the public and various posts in Facebook (FB), THE FILIPINO FINANCIAL BREAKTHROUGH PROGRAM/FINANCIAL BREAKTHROUGH PROGRAM has been inviting the public to join/avail of their company/program by
investing a minimum amount of Php18,660.00 (one account) to a maximum of Php130,620.00 (seven accounts). An investor has to first enroll in the company’s system, promote its program through social media, and enjoy the following benefits, among others:
1. Sign up bonus of Php12,000.00;
2. Referral bonus where an investor shall earn Php11,550.00 for every person he/she enrolls in the system;
3. Pairing Bonus where an investor shall earn Php16,800.00 in cash for every pair he/she enrolls;
4. Additional bonus of Php33,600.00 if the investor enrolls four (4) persons in the system;
5. The investor will also have a free one year insurance worth of Php1,000,000.00 to be provided by AXA Insurance in partnership with Bank of the Philippine Islands; and
6. FREE PRODUCTS FROM ROYALE BUSINESS CLUB INC.
THE FILIPINO FINANCIAL BREAKTHROUGH PROGRAM/FINANCIAL BREAKTHROUGH PROGRAM is not registered as a
corporation or partnership with the Commission. Having no primary registration/corporate franchise, with more reason that it is NOT AUTHORIZED to solicit investments from the public since it has not secured prior registration and/or license from the Commission as prescribed under Sections 8 and 28 of the SRC.
Hence, those who act as salesmen, brokers, dealers or agents or claim to act as such for the offering of THE FILIPINO FINANCIAL BREAKTHROUGH PROGRAM/FINANCIAL BREAKTHROUGH PROGRAM in selling or convincing people to invest in the investment scheme being offered by said entities including solicitations and recruitment through the internet may be prosecuted and held criminally liable under Section 28 of the SRC and penalized with a maximum fine of Five Million pesos
(P5,000,000.00) or penalty of Twenty-one (21) years of imprisonment or both pursuant to Section 73 of the SRC.
4. ETHMARKET LLC/ETHMARKET LLC PH and Quick Options by “PRINCE TOH REEZ”
Based on reports from the public and as posted on Facebook Messenger Group Chat (FB), the investment scheme of ETHMARKET LLC/ETHMARKET LLC PH. is to entice the public to invest in the said entity with a promise of earning a return of 20% daily or 100% (“double your money”) in a period of 10 days. The investor can invest a minimum amount of Three Hundred Ninety-Nine Pesos (Php399.00) or up to Three Hundred Ninety-Nine Thousand Pesos (Php399,000.00). An investor can also earn from direct referral ranging from 10% direct referral, 3% 2nd level and 2% on 3rd level
However, ETHMARKET LLC/ETHMARKET LLC PH. is NOT registered as a corporation or partnership with the Commission and has NO SECONDARY LICENSE to solicit, accept or take investments/placements from the public nor to issue investment contracts and other forms of securities defined under Section 3 of the Securities Regulation Code (SRC). Source..
Seemingly, the name ETHMARKET LLC/ETHMARKET LLC PH. DOES NOT APPEAR among the registered banks, exchanges or companies engaged in digital assets with the Bangko Sentral ng Pilipinas (BSP) as well in accordance with the GUIDELINES FOR VIRTUAL CURRENCY EXCHANGE (BSP CIRCULAR NO. 944) which requires all entities engaged in Virtual Currencies in the Philippines to obtain a Certificate of Registration to operate as remittance and transfer company pursuant to the BSP rules and regulations.
QUICK OPTIONS Trading Platform has two (2) main packages which it is using to entice the public to invest in the said entity,
namely: the (1) Bearish package; and (2) Bullish package. Every entry in these packages are stated to have an expected income of two hundred percent (200%) at the end of the investment duration which is usually seven (7) days for a minimum amount of Ten Dollars ($10.00) deposit to a maximum of up to Four Hundred Dollars ($400.00) deposit and investors can also earn bonuses from direct referrals. Source..
In view thereof, the public is hereby advised to STOP INVESTING in the investment scheme being offered by ETHMARKET LLC/ETHMARKET LLC PH. and its representatives or any entities engaged in investment schemes which promise ridiculous rates of return with little or no risks or show any other indications or characteristics of a Ponzi Scheme.
5. RONNIE BARRIENTOS, an active recruiter of CROWD1 ASIA PACIFIC INC. (CROWD1)
Information gathered from online sources and reports from the public show that RONNIE BARRIENTOS is publicly inviting people to invest in CROWD1. He is reported to be residing in General Santos City and has a status of a “President” in
CROWD1 with huge followers all over the Philippines.
RONNIE BARRIENTOS continues to solicit investments for and on behalf of CROWD1 despite the issuance of Advisory and Cease and Desist Order by the Commission against the subject entity. He even showed his support to CROWD1 by issuing a statement in reply to the Commission’s Advisory and posted the same in his Facebook (FB) account.
Further, RONNIE BARRIENTOS has posted several promotional videos on YouTube explaining the marketing plan of CROWD1 and enticing people to invest in its investment scheme. In video presentations entitled
CROWD1 Presentation
https://www.youtube.com/watch?v=YR23IkBHCw0&t=785s posted on 27 March
2020 and The Crowd1 Binary System- How does it work?
https://www.youtube.com/watch?v=Z_5fEVnbVs0&t=143s posted on 05 April 2020,
RONNIE BARRIENTOS introduced himself as the youngest leader in the Philippines. He stated that he is earning Ten Million Pesos (PhP10,000,000.00) since he joined the company eight (8) months ago, aside from the bonuses he earned thru the
Binary System. Source..
Those who act as salesmen, brokers, dealers or agents in selling or convincing people to invest in CROWD1’s business including soliciting investments or recruiting investors through the internet may be held criminally liable under Section 28 of the SRC and penalized with a maximum fine of Five Million Pesos (Php5,000,000.00) or imprisonment of Twenty-One (21) years or both pursuant to Section 73 of the SRC.
6. 1-UGRAND TRADING INC. (“1UGRAND”) by Richard Aquino
As posted online, 1UGRAND is offering investments to the public by paying an Entry Fee amounting to Php500.00 per account. A member may avail of up to thirty-one (31) accounts.
It is worth noting that a member has a guaranteed Php800.00 income in just eight (8) days per account or equivalent to sixty percent (60%), ON TOP of all other ways to earn. Source..
Below are the ways to earn:
1. Direct Referral Bonus amounting to Php50.00 for every direct recruit;
2. Pairing Bonus amounting to Php100.00 per pair for a maximum of 10 pairs per day. However, for every 5th pair, the pairing bonus is converted into products;
3. Unilevel Bonus amounting to Php5.00 from the recruit of his direct recruit up to the 10th level; and
4. Click Ads Bonus amounting to Php10.00 per ads for a total of 10 ads per day good for 8 days totaling Php800.00.
Per records of the Commission, 1-UGRAND TRADING INC. is registered with the Commission as a corporation, however, such registration specifically provides that the same DOES NOT AUTHORIZE INVESTMENT SOLICITATION AND INVESTMENT-TAKING
WITHOUT A SECONDARY LICENSE FROM THIS COMMISSION and verily, the corporation has not secured prior registration and/or license from the Commission as prescribed under Sections 8 and 28 of the SRC.
7. CENTRIC CORP, LTD. / CENTRIC FOUNDATION , CENTRIC RISE, and CENTRIC CASH,
CENTRIC is a private company registered in the United Kingdom with offices in London and Singapore and uses the domain “www.joincentric.com” in its transactions.
CENTRIC states that its dual-token economic model called CENTRIC RISE and CENTRIC CASH are new types of cryptocurrencies that are designed to continuously appreciate in value due to the apparent development of their unique
price blocks that seems to update each hour.
As posted online, CENTRIC is enticing the public to invest in the said tokens under the pretext that its prices are still low and it’s worth will rise each hour despite the fact that these tokens are apparently in the early stages of its development and
that CENTRIC is still in the process of establishing its network and business legalities.
However, per our record, CENTRIC CORP., LTD. and CENTRIC FOUNDATION including its CENTRIC RISE and CENTRIC CASH are NOT REGISTERED with the Commission and OPERATE WITHOUT THE NECESSARY LICENSE AND/OR AUTHORITY to solicit, accept or take investments/placements from the public nor to issue investment contracts and other forms of securities
defined under Section 3 of the Securities Regulation Code (SRC). Source..
Likewise, their names DO NOT APPEAR among the registered banks, exchanges or companies engaged in digital assets with the Bangko Sentral ng Pilipinas (BSP) in accordance with the GUIDELINES FOR VIRTUAL CURRENCY EXCHANGES (BSP CIRCULAR NO. 944) which requires all entities engaged in Virtual Currencies in the Philippines to obtain a Certificate of Registration to operate as remittance and transfer company pursuant to the BSP rules and regulations.
Hence, the public is advised NOT TO BUY CENTRIC RISE and CENTRIC CASH and NOT TO INVEST or STOP INVESTING in any scheme or promo offered by CENTRIC CORP., LTD. and CENTRIC FOUNDATION or such other entities engaged in cryptocurrencies and digital-asset trading that are not registered with the Commission and the BSP.
8. BITCOIN REVOLUTION using the domain “the-bitcoinrevolution.com”
It must be emphasized that BITCOIN REVOLUTION is an unregulated entity with unknown operators and is notorious for using fake celebrity endorsement online, among which are Sen. Manny Pacquiao, Former Senator and Speaker of the House,
Manny Villar, and Boy Abunda, in order to entice and lure Filipinos to invest in its scheme that apparently offers a unique automated trading system or platform which now promises a success rate as high as Ninety-Nine Percent (99%) per transaction.
BITCOIN REVOLUTION claims that for a minimum investment of Two Hundred Fifty Dollars ($250.00), investors can earn as much as One Thousand Dollars ($1,000.00) or Three Hundred Percent (300%) per day or a total of Nine Thousand
Percent (9,000%) per month. It even added that some of their traders became millionaires in less than two months by simply investing in its scheme which is “Too good to be True.
However, BITCOIN REVOLUTION remains UNREGISTERED with the Commission and is still NOT AUTHORIZED to solicit, accept or take investments/placements from the public nor to issue investment contracts and other forms of securities defined under Section 3 of the Securities Regulation Code (SRC). Source..
Moreover, BITCOIN REVOLUTION continues to manage its digital exchange platform without the proper registration with the Commission relative to Section 32 of the SRC on the “Prohibition on Use of Unregistered Exchange.”
In addition, BITCOIN REVOLUTION is still NOT INCLUDED among the registered banks, exchanges or companies engaged in digital assets with the Bangko Sentral ng Pilipinas (BSP) as well in accordance with the GUIDELINES FOR VIRTUAL CURRENCY EXCHANGES (BSP CIRCULAR NO. 944).
As such, the public is again advised NOT TO INVEST or STOP INVESTING in any scheme offered by BITCOIN REVOLUTION or any other entities engaged in digital asset trading which promises ridiculous rates of return with little or no risk.
9. BITRADE/BITRADE BITCOIN TRADING LTD./BITRADE LIMITED PH1 / DAILY PASSIVE BTC LTD
As posted in their Facebook account by certain individuals, the scheme used by the
company to entice the public to invest online or through the internet are as follows:
- Choose any of the following packages ranging from Php1,000.00 (Bronze) to Php100,000 (Premium).
- Pay the amount of chosen package
- Send proof of payment/receipt
- Register
- Start encoding
Below are the other/additional ways to earn available to all packages except for Bronze:
Direct Referral Bonus – The recruiter is entitled to 10% commission of his/her direct
invite’s chosen package; and 10% commission if the direct invite renews or upgrade
his/her account; and
Pass Up Bonus – The recruiter is entitled to 50% of his/her direct invite’s income in
captcha typing.
Per verification, DAILY PASSIVE is inviting people to invest exactly under the same scheme used by Bitrade. DAILY PASSIVE BTC LTD is not registered either as a corporation or partnership with the Commission. Further, it is NOT AUTHORIZED to solicit investments from the public since it has not secured prior registration and/or license from the Commission as prescribed under Sections 8 and 28 of the Securities Regulation Code. Source..
Hence, those who act as salesmen, brokers, dealers or agents or claim to act as such for the offering of DAILY PASSIVE in selling or convincing people to invest in the investment scheme being offered by said entities including solicitations and recruitment through the internet may be prosecuted and held criminally liable under Section 28 of the SRC and penalized with a maximum fine of Five Million pesos (Php5,000,000.00) or penalty of Twenty-one (21) years of imprisonment or both pursuant to Section 73 of the SRC.
10. E-WORK ONLINE DIGITAL MARKETING SERVICES (“EWORK”) by Mr. Bernard Gortina
As posted online, ework is offering investments to the public by paying Php1,000.00 per account. A member may avail up to 31 accounts. Remarkably, a member is entitled to an earning of not less than 156% in just 16 days.
Below are the ways to earn:
- By watching videos, a member shall earn a total maximum of Php2,560.00 (per account) by watching a video, each video amounting to Php20.00 for a total of 8 videos per day, good for 16 days;
- By direct referral, where a member shall earn an unlimited direct referral bonus of Php100.00 for every referral;
- By matching/pairing where a member shall earn Php500.00 for every pairing in his/he structure. A maximum of 2 pairs per day shall be paid by the entity; and
- By recruitment where a member shall earn unilevel bonus of Php20.00 from the recruit of his direct recruit up to the 10th level.
Per verification, E-WORK ONLINE DIGITAL MARKETING SERVICES is inviting people to invest, essentially, under the same schemes used by I Earn 01 Trading Inc. (iEarn)1. E-WORK ONLINE DIGITAL MARKETING SERVICES is not registered either as a corporation or partnership with the Commission. Further, it is NOT AUTHORIZED to solicit investments from the public since it has not secured prior registration and/or license from the Commission as prescribed under Sections 8 and 28 of the Securities Regulation
Code. Source..
The public is advised NOT TO INVEST or STOP INVESTING in any investment scheme being offered by any individual or group of persons allegedly for or on behalf of E-WORK ONLINE DIGITAL MARKETING SERVICES and to exercise caution in dealing
with any individuals or group of persons soliciting investments for and on behalf of it.
Visit the website of SEC for latest updates.
Always read the scam checklist before you invest: Investment Scam Checklist
http://www.sec.gov.ph/
Updated. June 28 2020, StockBytes PH
Related: Invest in the Philippine Stock Market ; Financial Freedom ; Stock Market Basics
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