Scam Alert! The Securities and Exchange Commission (SEC) to shutdown get rich quick scams.
These companies are NOT REGISTERED with the Commission or 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 of illegal entities:
1. MER’S BUSINESS CENTER
MER’S BUSINESS CENTER headed by REYNALDO ABING CAMINGAWAN and ROGER ABING CAMINGAWAN are inviting the public to invest in the entity. MER’S BUSINESS CENTER offers an investment scheme to the public through its so-called “Contractual Joint Venture Agreement” where members or business partners are promised 30% monthly interest for1 year or 360%in 12 months renewable for another 12 months after its expiration. These Investment Plans have been offered in MER’S BUSINESS CENTER branches and satellite offices which are made known to the public through Facebook Live posts/videos by Roger Camingawan in his Facebook pages “Roger Camingawan” and “Isumbong mo kay Kapartner Roger Camingawan,”as well as in the YouTube Channel “Kapartner Mo Channel”.
It may be recalled that Roger Camingawan was mentioned in two separate Advisories issued by the Commission against persons propagating fake news on Kapa Community Ministry International, Inc. (Kapa).
The public is hereby warned that the investment scheme of MER’S BUSINESS CENTER involves the offer and sale of securities in the nature of an investment contract subject to the regulatory authority of this Commission. The Securities Regulation Code (SRC) requires that these securities are duly registered with the Commission and that the concerned corporation and/or its agents have appropriate registration and/or license to sell such securities to the public pursuant to Sections 8.1 and 28.1 of the SRC.
Records of the Commission show that MER’S BUSINESS CENTER is not registered as a corporation or partnership. However, MER’S BUSINESS CENTER has been issued a Certificate of Business Name Registration on23 December 2020 by the Department of Trade and Industry with Business Name No. 2363068 under the name of its owner, REYNALDO ABING CAMINGAWAN. Nonetheless, MER’S BUSINESS CENTER is not authorized to solicit investments from the public as it did not secure prior registration and/or license to solicit investments from the Commission as prescribed under Section 8 of the SRC. SEC Advisory on MER’S Business Center
2. SEVEN STAG INTERNATIONAL OPC
SEVEN STAG INTERNATIONAL OPC, headed by VIERNON P. SUMINIG, is found to be engaged in investment-taking activities in the Philippines which is NOT AUTHORIZED by the Commission. To show:
SEVEN STAG INTERNATIONAL OPC is enticing the public to invest as shareholder of their company, with a promise of daily encashment with amounts varying from the “Levels of Shareholding” paid by the investor. According to the company, the promised income are to be generated from online sabong, fish farm and crypto trading activities. As advertised:
As posted online, SEVEN STAG INTERNATIONAL OPC is apparently utilizing the multi-level marketing scheme in order to gain more profit from the public which is particularly described as follows:
a. Newbie Shareholder-An investor pays a minimum amount of Five Hundred Sixty Pesos (Php560.00) with a promise of 15%earnings from every direct affiliate and from the 2ndto 5threceives a daily reward of Forty-Four Pesos (Php 44.00)from Indirect Affiliate;
b. Apprentice Shareholder-An investor pays a minimum amount of Five thousand Six Hundred Pesos (Php5,600.00)with a promise of 20% earnings from every direct affiliate and receives Four Hundred Forty Pesos (Php 440.00)as daily rewards from every indirect affiliate from 2ndup to 5thlevels;
c. Manager Shareholder-An investor pays a minimum amount of Fifty-Six Thousand Pesos (Php 56,000.00)with a promise of 25% earnings for every direct affiliate and infinite levels for indirect affiliates with a daily reward of Four Thousand Four Hundred Pesos (Php 4,400.00);
d. Senior Shareholder-an investor pays Five Hundred Sixty Thousand Pesos (Php 560,000.00)with a promise of 30% earnings for every direct affiliate and infinite levels for indirect affiliates with a daily reward of Forty-four thousand Pesos (Php 44,000.00).
Aside from earnings explained above, the managers and senior managers will receive an additional 30% and 70 % from the “Stag Pool Shares”, respectively. As Illustrated:
Aside from referral bonuses, SEVEN STAG INTERNATIONAL OPC promises a DAILY PASSIVE INCOME of Forty Four Pesos (Php44.00)for the minimum investment Php560.00and Forty-Four Thousand Pesos (Php44,000.00)for a Php560,000.00 investment.
The income generated by the company does not appear to come from legitimate business sources but solely from the “Levels of Shareholdings” being paid by its current investors/shareholders and by the newly recruited members. These false representations of lucrative return of investment within a short period of time from apparently legitimate sources effectively lure the public to invest their hard-earned money in their company. The operation of this entity is a “Ponzi Scheme,” an investment fraud that involves the payment of purported returns to existing investors from funds contributed by the new investors. SEC Advisory on Seven Stag
3. COCO-J FUNDS CORP. and COCO-J FUNDS DIGITAL MARKETING SERVICES
COCO-J FUNDS CORP. and COCO-J FUNDS DIGITAL MARKETING SERVICES headed by JESSIE OLIQUINO HIMOR(Facebook Name: Jessie Rich), are enticing the public to invest their money in said entity.
As posted online, COCO-J FUNDS CORP. and COCO-J FUNDS DIGITAL MARKETING SERVICES are offering investments to the public by buying an Activation Code amounting to Php1,500.00 per account. A member may avail up to thirty-one (31) accounts.
It is worth noting that a member has a guaranteed two hundred ten percent (210%) profit for just seven (7) weeks, ON TOP of all other ways to earn, to wit:
- Direct Referral Income An investor earns Php100.00 for every referral.
2. Pairing Income An investor earns Php100.00 for every pair of his/her recruits.
3. Leadership Cash Assistant Program An investor who hits 2 active invites earns a total of Php4,500.00.
As the aforementioned schemes involve the sale of securities to the public, the Securities Regulation Code (SRC) requires that these securities are duly registered and that the concerned corporation and/or its agents have appropriate registration and/or license to sell such securities to the public pursuant to Section 8 and 28 of the SRC.
The public is hereby informed that COCO-J FUNDS CORP. andCOCO-J FUNDS DIGITAL MARKETING SERVICES are both not registered with the Commission either as a corporation or as a partnership, further, they are not authorized to solicit investments from the public for 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). SEC Advisory on COCO-J
4. HEDGE TRADING
HEDGE TRADING headed by JONAS LAPADA, are enticing the public to invest their money in said entity.
HEDGE TRADING is inviting the public to invest for a minimum of Php 500.00 which will become Php 650.00 in 15 days or a guaranteed 130% return in 15 days.
A HEDGE TRADING member is entitled to passive income, binary, unilevel and referral bonus.
- Passive Income –a minimum investment of Five Hundred Pesos (Php500.00) will earn One Hundred Fifty Pesos (Php150.00) or thirty percent (30%)or a total of P650 (130% in 15 days).
- Direct Referral –a member will receive ten percent (10%) depending on the amount invested by his/her recruit.
- Pairing Bonus –a member will receive Fifty Pesos (Php50.00) for every pair on his/her binary structure.
- Unilevel Bonus –one percent (1%) income for every person recruited from 1st up to the 12th level
As the above-described scheme involves the sale of securities to the public, the Securities Regulation Code (SRC) requires that these securities are duly registered and that the concerned entities and/or their agents have appropriate registration and/or license to sell such securities to the public pursuant to Section 8 and 28 of the SRC.
The public is hereby informed that HEDGE TRADING 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 and 28of the SRC. SEC Advisory on Hedge Trading
5. INFINITY PAYB / PAYB BILLS PAYMENT AND REMITTANCE CENTER
INFINITY PAYB / PAYB BILLS PAYMENT AND REMITTANCE CENTER owned and operated by ANGEL TAMBOR DOINOG, JR., which is engaged in investment-taking activities. INFINITY PAYB / PAYB BILLS PAYMENT AND REMITTANCE CENTERis offering several packages with 60% guaranteed Return of Investment (ROI)in 15 days.Further, the company purports to be in partnership with the following companies by giving discounts on bills:
As the above described scheme involves the sale of securities to the public, the Securities Regulation Code (SRC) requires that these securities are duly registered and that the concerned entities and/or its agents have appropriate registration and/or license to sell such securities to the public pursuant to Section 8 and 28 of the SRC.
The records of the Commission show that INFINITY PAYB / PAYB BILLS PAYMENT AND REMITTANCE CENTER is not registered with the Commission either as a corporation or as a partnership. However, PAYB BILLS PAYMENT AND REMITTANCE CENTER has been issued a Certificate of Business Name Registration on 16 February 2021 by the Department of Trade and Industry with Business Name No. 2660201 under the name of its owner, ANGEL TAMBOR DOINOG, JR. with a limited business scope confined to Bacoor City, Cavite.
Nonetheless, INFINITY PAYB / PAYB BILLS PAYMENT AND REMITTANCE CENTER is not authorized to solicit investments from the public as it did not secure prior registration and/or license to solicit investments from the Commission as prescribed under Section 8 and 28 of the SRC. SEC Advisory on INFINITY PAYB
6. JPCOMPANY ONLINE SHOP/JP COMPANY
JPCOMPANY ONLINE SHOP/JP COMPANY headed by JOHN PAUL ACUZAR CHAN, are enticing the public to invest their money in said entity.
JPCOMPANY ONLINE SHOP/JP COMPANY is offering its “IWE” (Invest, Wait, and Earn) System where an investor is guaranteed a return-on-investment (ROI) equivalent to 180% of his/her investment within 15 to 20 days only.
The records of the Commission show that JPCOMPANY ONLINE SHOP / JP COMPANY is not registered with the Commission either as a corporation or as a partnership. However, JPCOMPANY ONLINE SHOP has been issued a Certificate of Business Name Registration on 20 January 2021 by the Department of Trade and Industry with Business Name No. 2515205 under the name of its owner, John Paul Acuzar Chan with a limited business scope confined to Barangay Bangkal in Makati City.
Nonetheless, JPCOMPANY ONLINE SHOP SHOP / JP COMPANY is not authorized to solicit investments from the public as it did not secure prior registration and/or license to solicit investments from the Commission as prescribed under Section 8 and 28 of the SRC. SEC Advisory on JPCOMPANY
7. DOORS OPPORTUNITY ONLINE (DOO) / DOOR OPPORTUNITY DIGITAL MARKETING SERVICES
DOORS OPPORTUNITY ONLINE (DOO) / DOOR OPPORTUNITYDIGITAL MARKETING SERVICES owned and operated by MANASES MAGBUO DUGENIO, JR. a.k.a. DOMAN D. NARVAEZ, are offering online investment opportunities.
Based on information gathered by the Commission, in order to become a member, one must pay a minimum of One Thousand Pesos (P1,000.00)which the company promises to turn into One Thousand Six Hundred Twenty Pesos(P1,620)within nine (9)days (62% in 9 days)thru opening of (virtual) doors even without invites.
Below is a compensation plan showed by its promoter:
Below is a compensation plan showed by its promoter: There are different ways to earn in DOORS OPPORTUNITY ONLINE:
1)Direct Referral; 2)Pairing Bonus; and 3)Unilevel Income.
DOORS OPPORTUNITY ONLINE / DOOR OPPORTUNITY DIGITAL MARKETING SERVICES is not registered with the Commission as a corporation or partnership. However, DOOR OPPORTUNITY DIGITAL MARKETING SERVICES has been issued a Certificate of Business Name Registration on 19 October 2020by the Department of Trade and Industry with Business Name No. 2251283under the name of its owner, MANASES MAGBUO DUGENIO, JR.
Nonetheless, DOORS OPPORTUNITY ONLINE / DOOR OPPORTUNITY DIGITAL MARKETINGSERVICESis not authorized to solicit investments from the public as it did not secure prior registration and/or license to solicit investments from the Commission as prescribed under Section 8 of the SRC. SEC Advisory on DOOR OPPORTUNITY
8. CASH FX/CASH FX GROUP/CFX
CASH FX/CASH FX GROUP/CFX are soliciting investment in the Philippines WITHOUT THE NECESSARY LICENSE AND/OR AUTHORITY from the Commission. Based on the aforementioned information and reports from the public, CASH FX/CASH FX GROUP/CFX’s CEO is one HUASCAR LOPEZ, with principal office located at RBS Tower-Ave Balboa, Ramon H. Jurado St, 9thfloor, Punta Paitilla, Panama.
As posted on their Website, Facebook Page (CFX GROUP PHILIPPINES and CFX FOREX TRADING)and video uploaded in YouTube Channel, you can start a business by registering first, then you can choose from any of the three (3) plans or trading packs which are, ELEMENTAL PLANS ($300 up to $3,000.00), ADVANCE PLANS ($5,000.00 up to$20,000.00), and SUPREME PLANS ($30,000.00 up to$100,000.00) accordingly.
As posted on their Website, Facebook Page (CFX GROUP PHILIPPINES and CFX FOREX TRADING)and video uploaded in YouTube Channel, you can start a business by registering first, then you can choose from any of the three (3) plans or trading packs which are, ELEMENTAL PLANS ($300 up to $3,000.00), ADVANCE PLANS ($5,000.00 up to$20,000.00), and SUPREME PLANS ($30,000.00 up to$100,000.00) accordingly.
CASH FX/CASH FX GROUP/CFXis supposedly offering seminars and tutorials on how to invest in the forex market or foreign exchanges. The investor or future investor will buy the said plans or trading packs. Thirty percent (30%) of the said plans will go to academy products/program and the remaining Seventy percent (70%) will go to the trade pool deposit. CASH FX/CASH FX GROUP/CFXwill be the one to trade the Seventy Percent (70%) in the forex market or foreign exchanges.
Foreign regulators have likewise issued warnings and investor alerts against CASH FX GROUP S.A./CASH FOREX GROUP/CASH FX/CFX such as the Financial Conduct Authority of UK (December 11, 2019), The Financial Supervisory Authority of Norway (September 4, 2020), Securities Commission of The Bahamas (December 2, 2020), Financial Markets Authority of New Zealand (April 9, 2021), Canadian regulators like The British Columbia Securities Commission (November 10, 2020), The Financial and Consumers Affairs Authority of Saskatchewan (January 27, 2021)and Autorité Des Marchés Financiers of Quebec and even the Superintendencia del Mercado Del Valores of Panama (September 1, 2020) where Cash FX supposedly originates from
The aforementioned investment scheme of CASH FX/CASH FX GROUP/CFX involves the offering and/or sale of securities in the form of an “investment contract” as defined under Section 3.1of the Securities Regulation Code. The investor makes an investment of money in the minimum amount of Three Hundred Dollars ($300.00)or Fifteen Thousand Pesos (Php15,000.00) and a maximum of One Hundred Thousand Dollars ($100,000.00) or Five Million Pesos (Php5,000,000.00) in a common enterprise which is CASH FX/CASH FX GROUP/CFS and expects to earn profits primarily from the efforts of others. SEC Advisory on CASH FX
9. BIG DREAMS INTERNATIONAL and BDI PRODUCT TRADING OPC
Big Dreams International and BDI Product Trading OPC headed by their CEO and President ANTHONY OLAMIT BERSALUNA, are enticing the public to invest their money in said entity. Based on the information received by this Commission, Big Dreams International and BDI Product Trading OPC entices the public to invest online or through the internet by being its member with initial membership fee/initial investment of Php7,500.00 with a guaranteed monthly return of P1,500 for 18 months(20% monthly ROI or 360%in18 months)straight plus a circular magnetic necklace.
Furthermore, full-fledged members are given option to invest in Forex Trading with the following options for returns:
Accordingly, a member shall only need to invest, wait and earn without having to do anything. As the above-described schemes involved the sale of securities to the public, the Securities Regulation Code (SRC) requires that these securities are duly registered and that the concerned corporation and/or its agents have appropriate registration and/or license to sell such securities to the public pursuant to Section 8and 28of the SRC.
The records of the Commission show that Big Dreams International is not registered with the Commission either as a corporation or as a partnership. Consequently, 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.
That while BDI Product Trading OPC is registered with this Commission as a one-person corporation, however, it is to be noted that its Certificate of Registration explicitly highlighted that: “This Certificate DOES NOT AUTHORIZE INVESTMENT SOLICITATION AND INVESTMENT-TAKING WITHOUT A SECONDARY LICENSE FROM THIS COMMISSION.” SEC Advisory on BDI
10. BEYOND GENERATIONS DIGITAL MARKETING SERVICES
BEYOND GENERATIONS DIGITAL MARKETING SERVICES, headed by Ivan Jao Robles, are enticing the public to invest their money in said entity. As posted online, BEYOND GENERATIONS DIGITAL MARKETING SERVICES is offering investments to the public with a minimum amount worth Php1,000.00 per account.
A member will earn 10% daily for 20 business days or 200% return and has the option to earn more through the following:
As the above-described schemes involve the sale of securities to the public, the Securities Regulation Code (SRC) requires that these securities are duly registered and that the concerned corporation and/or its agents have appropriate registration and/or license to sell such securities to the public pursuant to Section 8and 28 of the SRC.
Records of the Commission show that BEYOND GENERATIONS DIGITAL MARKETING SERVICES is not registered with the Commission either as a corporation or as a partnership. However, BEYOND GENERATIONS DIGITAL MARKETING SERVICES has been issued a Certificate of Business Name Registration on 05 February 2021 by the Department of Trade and Industry with Business Name No. 2619667 under the name of its owner, by IVAN JAO ROBLES.
Nonetheless, BEYOND GENERATIONS DIGITAL MARKETING SERVICES is not authorized to solicit investments from the public as it did not secure prior registration and/or license to solicit investments from the Commission as prescribed under Section 8and 28of the SRC. SEC Advisory on BEYOND GENERATIONS
11. iWATCH.PH CORPORATION
iWATCH.PH CORPORATION(iWATCH.PH) headed by Jerome Operio, Reiner Cadizand Joseph Regalario are allegedly enticing the public to invest in the said entity online or through the internet. As posted in its website, iWATCH.PH is an “online business that gives Filipinos a lifetime reason to earn in 20 different ways and with multiple features, giving them no excuses to have nothing coming in to have a greater life even further.”
Based on the information gathered, a prospective investor should pay an amount of Php2,188.00 to become a member and can enjoy different ways to earn as an iWatcher.
The public is hereby advised to exercise due care and caution in investing their money in this type of scheme being offered by iWATCH.PH and/or its agents. In the instant case, the scheme of iWATCH.PH has the characteristics of a Pyramid scheme. The Pyramiding scheme involves securities because for payment of a sum of money, often nominal, the investor participates in a recruitment scheme that promises a stream of profits. The scheme that requires recruitment in a two-pronged structure takes the form of a pyramid, one that grows wider at the bottom, and thrives with the supply of new recruits to the scheme. Here, the recruitment fees collected from new recruits are used to pay the recruiting commissions to earlier recruits.
Records of the Commission show that while iWATCH.PH CORPORATION is registered with the Commission as a corporation, it is not authorized to solicit investments from the public as it did not secure prior registration and/or license to solicit investments from the Commission as prescribed under Section 8 and 28 of the SRC. SEC Advisory on iWATCH PH
12. INVESTRADE MARKETING / INVESTRADE DIGITAL MARKETING SERVICES
INVESTRADE MARKETING / INVESTRADE DIGITAL MARKETING SERVICES is engaged in UNAUTHORIZED investment-taking activities. INVESTRADE MARKETING / INVESTRADE DIGITAL MARKETING SERVICES –headed by a certain MARY GRACE PELENIO GANZO –entices the public to join the company and invest an amount between Five Hundred (Php500.00) to Fifty Thousand (Php50,000.00) pesos and promises a return of up to100% or double-your-money in 30 days. To note, the company’s Investment and Proposal Agreement promises a return of 300% net income with capital within 40 days of investment.
Based on the information gathered by the Commission, the scheme employed by the subject entity offers four(4) different ways to earn money, to wit: (1). Short Term–where an investment of Php500.00 becomes Php600.00 in just a period of 8 days; (2). Long Term–where an investment of Php1,000.00 turns Php1,500.00 in fifteen (15) days; (3). VIP Plan–where an investment of Php5,000.00grows toPhp10,000.00 in just twenty-five (25) days;and(4). Executive Plan–where an investment of Php50,000.00 becomes Php100,000.00 in just a period of thirty (30) days with 5% monthly profit share for 10 months.
Thereafter, investors are to deposittheir payments/investments thru theuse ofdifferent bankaccounts and online remittance centersprovided, all under the name MARY GRACE GANZO. Then,investors are instructed to send their proof of paymentto https://www.facebook.com/graciana.ganzofor verification.
The public is hereby informed that INVESTRADE MARKETING / INVESTRADE DIGITAL MARKETING SERVICESis NOT registered with the Commission either as a corporation or a partnership. However, INVESTRADE DIGITAL MARKETING SERVICES has been issued a Certificate of Business Name Registration on 08 January 2021 by the Department of Trade and Industry with Business Name No. 2419842 under the name of MARY GRACE PELENIO GANZO. Nonetheless, INVESTRADE MARKETING / INVESTRADE DIGITAL MARKETING SERVICES is not authorized to solicit investments from the public as it did not secure prior registration and/or license to solicit investments from the Commission as prescribed under Section 8 of the Securities and Exchange Commission. SEC Advisory on INVESTRADE DIGITAL
13. 247 CRYPTOTRADING FX, 247 CRYPTOTRADE ONLINE, EXCHANGESTOCK, BINARY OPTIONS TRADING, and WOLVES OPTIONS
LEARN and EARN ONLINE, 247 CRYPTOTRADING FX, 247 CRYPTOTRADE ONLINE, EXCHANGE STOCK,BINARY OPTIONS TRADING, and WOLVES OPTIONS are soliciting investments in the Philippines WITHOUT THE NECESSARY LICENSE AND/OR AUTHORITY from the Commission.
LEARN and EARN ONLINE operates from Kenya and appears to be acting as trading broker for247 CRYPTOTRADING FX, 247 CRYPTOTRADE ONLINE, EXCHANGE STOCK, BINARY OPTIONS TRADING and WOLVES OPTIONS which are said to be based in United Kingdom, through the assistance of its representatives using apparent synthetic or fraudulent identities, namely: CONFIDENCE FRIDAY, IDONG UMOREN, DIMA VIAD SASHA,ITZ SMART LIVINUS, LAWRENCE PATRICIA, and LAWAN MUHAMAD MLS, among others. To wit:
As advertised online, LEARN and EARN ONLINEis offering free seminars and tutorials on how to investin cryptocurrencies and foreign exchangeonline. As shown:
As part of its scheme, LEARN and EARN ONLINE will also lure the public to invest in 247 CRYPTOTRADING FX, 247 CRYPTOTRADE ONLINE, EXCHANGESTOCK, BINARY OPTIONS TRADING and WOLVES OPTIONS with the promise of lucrative returns with little or no risk.Their compensation plans or schemes are as follows:
Based on the foregoing, it appears that the said entities are using the same design or cookie-cutter interface for their websites and are offering “too good to be true” investment opportunities ranging from 18% to 1000% income per week which are indications of a possible “Ponzi Scheme” where returns to early investors are likely to be paid out from the investments of new investors and not out of the companies’ profits.
It must be emphasized that the offering and sale of securities in the form of investment contracts using the “Ponzi Scheme” is fraudulent and unsustainable and is NOT registrable security. The Commission will NOT ISSUE a License to Sell Securities to the Public to persons or entities that are engaged in this business or scheme. SEC Advisory on 247 Cryptotrade online
15. IX TRADE/IXTRADE
IX TRADE/IXTRADE with website,http://www.ixtrade.net and through FACEBOOK pages, “IXTRADE Legitimate”, “Ixtrade.net”, “IXTRADE -TEAM PANALO” and“INGRID ARCHE” are engaged in UNAUTHORIZED investment-taking activities. iX TRADE/IXTRADEguaranteesthat for money invested ranging from Php500-Php20,000, investors shall earn 150% after 12 days with a referral bonus of 20%.
Allegedly,the earnings shall be generated from trading in theforex and cryptocurrency markets.
As the aforementioned scheme involves the offering and sale of securities to the public, the Securities Regulation Code (SRC) requires that these securities are duly registered with the Commission and that the concerned corporation and/or its agents have appropriate registration and/or license to sell such securities to the public pursuant to Section 8and 28of the SRC. The public is hereby informed that IX TRADE /IXTRADEis NOT registered with the Commission either as a corporation or a partnership. It is not authorized to solicit investments from the public as it did not secure prior registration and/or license to solicit investments from the Commission as prescribed under Section 8 and 28 of the SRC. SEC Advisory on IXTRADE
15. WONKACASH/WONKA CASH APP FINANCIAL CONSULTANCY SERVICES
WONKACASH/WONKA CASH APP FINANCIAL CONSULTANCY SERVICES which is being operated through a person or persons using the pseudonym “LUISITO TARUC,” is enticing the public to invest in said entity.
The scheme of WONKACASH partakes of the offering and sale of securities, in the form of investment contracts to the public as its investors need not exert any effort other than to invest or place monies in its operation in order to derive income therefrom.
Based on the Commission’s database, WONKACASH or WONKA CASH APP FINANCIAL CONSULTANCY SERVICES is NOT REGISTERED as a corporation or partnership and OPERATES 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).
Further, the scheme employed by WONKACASHshows indication of a possible “Ponzi Scheme” where monies from new investors are used in paying “fake profits” to prior investors and is designed mainly to favor its top recruiters and prior risk takers and is detrimental to subsequent members in case of scarcity of new investors. SEC Advisory on WONKACASH
17. ALIGN ASSETS
This ADVISORY is prompted by numerous inquiries from the public who would like to know whether or not an entity called ALIGN ASSETS is registered with this Commission and whether or not ALIGN ASSETS has a Secondary License to solicit investments/placements from the public. The public is hereby informed that based on the Commission’s database, ALIGN ASSETS is NOT registered with the Commission either as a corporation or as a partnership.
Further, ALIGN ASSETS it is NOT AUTHORIZED to solicit investments/placements from the public nor to issue investment contracts and other forms of securities 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.
ALIGN ASSETS allegedly converts investments to digital currency or Bitcoin for trading and provides its investors a guaranteed 3% Return of Investment (ROI) every working day or an extraordinary150% profit in 50 working days in every trading Assets. Furthermore, there is an additional 5% for Direct Referrals under his/her name and 0.5% for Indirect Referrals.
To bear emphasis, ALIGN ASSETS does 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.
Furthermore, ALIGN ASSETS is also NOT REGISTERED either as a crowdfunding intermediary or funding portal under SEC Memorandum Circular No. 14, Series of 2019 or the Rules and Regulations Governing Crowdfunding.
The public is hereby 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 ALIGN ASSETS and to exercise caution in dealing with any individuals or group of persons soliciting investments for and on behalf of said entity. This warning should be taken seriously in light of the claim that ALIGN ASSETSis a trading platform based in the United Kingdom which also claims to have no identity, individual, or group that is handling the company and also called bots claimed to be the one to do the trading. SEC Advisory on ALIGN ASSETS
18. TRADEXPERT/TradeXpert Technology Information Services
The Commission has received information that TRADEXPERT/TradeXpert Technology Information Services is engaged in UNAUTHORIZEDinvestment-taking activities. TRADEXPERT/TradeXpertTechnology Information Services headed by Catherine Ramirez Reyes, Rafaelito S. Ele and Mary Ann Reyes entices the public to join the company and invest a minimum of One Thousand Pesos (Php1,000.00) and promises 10% daily interest in 20 days (double your money in 20 days).
Based on the information gathered by the Commission, presented is the computation of the daily interest being offered byTRADEXPERT/TradeXpert Technology Information Services as shown in their Frequently Asked Questions.
RADEXPERT/TradeXpert Technology Information Servicesalso offersa Referral Program where investors can earn 10% referral bonus.
In addition, TRADEXPERT/TradeXpert Technology Information Services likewise offers Indirect Referral Bonus where investors can earn an additional 5% on every indirect referrals.
As the aforementioned schemes involve the sale of securities to the public, the Securities Regulation Code (SRC) requires that these securities are duly registered and that the concerned corporation and/or its agents have appropriate registration and/or license to sell such securities to the public pursuant to Section 8 of the SRC.
The public is hereby informed that TRADEXPERT/TradeXpert Technology Information Services is NOT registered with the Commission either as a corporation or a partnership. However, TradeXpert Technology Information Serviceshas been issued a Certificate of Business Name Registration on 03 January 2021 by the Department of Trade and Industry with Business Name No. 2371267 under the name of CATHERINE RAMIREZ REYES.
Nonetheless,TRADEXPERT/TradeXpert Technology Information Services is not authorized to solicit investments from the public as it did not secure prior registration and/or license to solicit investments from the Commission as prescribed under Section 8 of the Securities and Exchange Commission. SEC Advisory on TRADEXPERT
Violators are further warned that aside from the strict penalties imposed by the Commission for violations of the SRC, the Revised Corporation Code of the Philippines, and such other rules and regulations it enforces, the Bayanihan to Heal as One Act (Republic Act No. 11469) also punishes those participating in cyber incidents that make use or take advantage of the current crisis situation to prey on the public through scams, phishing, fraudulent emails, or other similar acts.
Furthermore, the names of all those involved will be reported to the Bureau of Internal Revenue (BIR) so that the appropriate penalties and/or taxes be correspondingly assessed. Selling or convincing people to invest in their investment scheme offered including solicitations and recruitment through the internet may likewise be criminally prosecuted and penalized with a maximum fine of Five Million pesos (P5,000,000.00) or a penalty of Twenty-one (21) years of imprisonment or both pursuant to Sections 28 and 73 of the SRC
In view thereof, the public is hereby advised to exercise caution in dealing with the above mentioned and any individual or group of persons soliciting investments for and on behalf of the said illegal entities. The public is further advised NOT TO INVEST or to STOP INVESTING in the investment scheme being offered by them or their representatives through the entity.
Should you have any information regarding the operation of the subject entity, please submit your report to the Enforcement and Investor Protection Department at [email protected].
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