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. INTELLIGENCE SAMUSAI
It has come to the attention of the Securities and Exchange Commission(the “Commission”)that an entity by the name of Intelligence Samusai, using the email address samusaiintelligence@gmail.com, has been contacting individual borrowers of a certain lending company through email, advising them to cease payments on their loans in view of alleged active investigations/cases by different countries against the said lending company.
Please be informed that the Commission does not issue such advice to any borrower of any lending or financing company. The public is further advised that the Commission is not, in any way, connected or affiliated with Intelligence Samusai. Borrowers who received letters, emails, or any other communication containing said information from Intelligence Samusai and other similar entities are advised to directly coordinate with the Commission via email at cgfd_md@sec.gov.ph. Source: SEC Advisory on Intelligence Samusai
2. ROYAL O FINANCIAL CONSULTANCY SERVICES
Based on the information gathered by the Commission, a number of individuals or group of persons claiming to represent ROYAL O FINANCIAL CONSULTANCY SERVICES headed by PRINCESS JOANA JO ALFAJID-CAMPOS (being identified as “Dr. Campos”), are enticing the public to invest their money in said entity.
As posted online, ROYAL O FINANCIAL CONSULTANCY SERVICES is an investment platform for various entities such as: Oro Magnet Cockpit Arena –E-Sabong; Plasma tech Medical Supplies Trading; and Genius Global Impact and Export Corp. ROYAL O FINANCIAL CONSULTANCY SERVICES is purportedly a website portal for the co-ownership program where the funds sourced from the public shall, in turn, be invested in various businesses that are being managed and operated by Dr. Campos.
Investor-members may avail of either its Daily Program or its Monthly Program with guaranteed earnings of 15% weekly in just 90 days(a total of 201% return on investment) or 60% monthly in just 6 months(a total of 360% return on investment), respectively.
Further, a member is entitled to a direct bonus equivalent to 6% based on his/her direct recruit’s investment, and a Leveling Bonus equivalent to 0.5% to 3% up to the 10thlevel.
While one of the purported businesses of Dr. Campos is registered with this Commission as a One-Person Corporation (OROMAGNET INTERNATIONAL E-GAMES OPC with Company Reg. No. 2020100002972-12), however, its Certificate of Incorporation expressly states that such registration DOES NOT AUTHORIZE INVESTMENT SOLICITATION AND INVESTMENT-TAKING WITHOUT A SECONDARY LICENSE FROM THIS COMMISSION.
Considering that the above-described schemes of ROYAL O FINANCIAL CONSULTANCY SERVICES 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 records of the Commission show that ROYAL O FINANCIAL CONSULTANCY SERVICES is not registered with the Commission either as a corporation or as a partnership. However, it has been issued a Certificate of Business Name Registration on 12 October 2020 by the Department of Trade and Industry with Business Name No. 2236635 under the name of its owner, PRINCESS JOANA JO ALFAJID CAMPOS. Nonetheless, ROYAL O FINANCIAL CONSULTANCY 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 Securities and Exchange Commission. Source: SEC Advisory on Royal O
3. SOLMAX GLOBAL LIMITED and IGNITER 100
Based on information gathered by the Commission, the entities operating under the name SOLMAX GLOBAL LIMITED and IGNITER 100 are soliciting investments in the Philippines WITHOUT THE NECESSARY LICENSE AND/OR AUTHORITY from the Commission.
SOLMAX GLOBAL LIMITED and IGNITER 100 are based in London, United Kingdom, and are operated by FLORIAN KRUEGER, SERGE MEULENBELT, ABDUL REHMAN SANDHU, STEVEN LUBKA, THELMA DHLOVU, AARON BATES, and ASIM MIRZA among others and appears to be soliciting investments from Filipinos within and without the Philippines through the assistance of their Filipino “Independent Marketing Partners” (IMP), some of which are: ANNA LISA, DIANE SAWALI, ROBERTO DULIN, AIZEL ALANA, EMERSON ILAGAN, JENNIFER PLATA, MERI REYES, ELPHED REYES STEPHEN CARREON, RENMAR SOMBILON, JEMAR TARSITA, MELCHOR PAROJINOG, REYNALD ATILLO, FATIMA ATILLO, MARILOU VAN MEETEREN, MICHELLE CANAY, ROBINSON DIAZ, FERZAEL EBUENG, SUSAN BORJA RAMOS, and JIMBERT ATON.
As posted online, SOLMAX GLOBAL LIMITED and IGNITER 100 offer the following compensation plans involving mainly the sale or Initial coin offering(ICO)of their supposed cryptocurrency called “Equity Token” or “i100” share with a value of £0.38per token/share as of November 2020 in order to source funds under the pretext that it will drastically increase in price once it became listed in the open market within this year. These packages likewise include “Academy Credits” that can use apparently to access different webinars or online courses available through the companies ’SMG Academy. To wit:
Basically, SOLMAX GLOBAL LIMITED and IGNITER 100 are offering investment packages ranging from £ 25 to£ 5,000 with a total guaranteed passive income of 200% accumulated daily at 1% Return of Investment (ROI)for 200 days or at 2% ROI for 100 days in case the investor recruited at least 3 others to join the said scheme.
The investor may also opt to lock his/her investment for a year in order to earn a bigger income based on the corresponding number of “Equity Tokens” or “i100” shares derived from his/her chosen package multiplied by the predicted value of £ 6 to £ 8per token/share once successfully listed or an approximate profit of 1,500%from the initial purchase price. To illustrate:
Aside thereof, SOLMAX GLOBAL LIMITED and IGNITER 100 offer other income opportunities relative to their above compensation plans which includes Ranking bonuses, Referral Commissions. Binary Bonuses, Matching bonuses, Global Pool Bonuses, Car, Travel and Gadget incentives, and others, in order to boost their recruitment processes similar to the modus of other entities already flagged by the Commission as scams that depend primarily on crowdfunding by amassing memberships.
Thus, bereft of any actual retainable products or services, it is apparent that the scheme of SOLMAX GLOBAL LIMITED and IGNITER 100 involves the offering and selling of securities, in the form of investment contracts, to the public because its investors need not exert any effort other than to invest or place monies in the said company in order to earn income.
Despite their claim of legitimacy abroad, the public is informed that SOLMAX GLOBAL LIMITED and IGNITER 100 are NOT REGISTERED with the Commission and are 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)in the Philippines. Source: SEC Advisory on SOLMAX GLOBAL AND IGNITER 100
4. BITACCELERATE / BITACCELERATEPROJECT.COM / BA / BITACCELERATOR
Based on reports and information gathered by the Commission, an entity operating under the names BITACCELERATE / BITACCELERATEPROJECT.COM / BA / BITACCELERATOR., is found to be engaged in investment-taking activities in the Philippines which is NOT AUTHORIZED by the Commission.
BITACCELERATE / BITACCELERATEPROJECT.COM / BA / BITACCELERATOR claims to be designed as a Crowdfunding International Platform or based on cryptocurrency blockchain technology which allegedly provides a long-term active and passive income to investors through its crowdfunding referral system.
As posted online in the Philippines, BITACCELERATE / BITACCELERATEPROJECT.COM / BA /BITACCELERATOR claims that an investor can earn a maximum passive income of 350%potential profit of his total investments or 2% to 8% daily profit. Basically, the active income generated from the foregoing compensation plans depends on the number of referrals and/or membership fees gathered.
Hence, the more people that will be referred to BITACCELERATE / BITACCELERATEPROJECT.COM / BA / BITACCELERATOR system, the more likely it that its members will earn income thereto either actively or passively which ultimately defeats its claim of sustainability because its whole system depends entirely on the new investors that will be lured in.
A prospective investor shall be asked to download the “telegram” app, once downloaded they will be asked about their investments which will be entered into the BITACCELERATE / BITACCELERATEPROJECT.COM / BA / BITACCELERATOR Bot in Telegram. Based on the foregoing, BITACCELERATE /BITACCELERATEPROJECT.COM / BA / BITACCELERATOR so-called smart contract partakes of the nature of securities through an investment contract where their investors need not exert any effort other than to invest or place money in its scheme in order to earn a profit.
The Securities Regulation Code (SRC) requires that said offer and sale of securities must be 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. However, based on our records, BITACCELERATE / BITACCELERATEPROJECT.COM / BA / BITACCELERATOR is NOT REGISTERED with the Commission and is 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).
BITACCELERATE / BITACCELERATEPROJECT.COM / BA / BITACCELERATOR is also 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). Accordingly, the public is advised NOT TO INVEST or STOP INVESTING in any scheme offered by BITACCELERATE / BITACCELERATEPROJECT.COM / BA / BITACCELERATOR or any other entities using the same scheme in digital asset trading which promises ridiculous rates of return with little or no risk. Once more, the public is reminded that cryptocurrencies are very volatile in nature and that the process of digital asset trading is highly speculative and involves a higher degree of risk. Hence, any promise of fixed rate of lucrative return is truly ambiguous.
Therefore, the public must remain vigilant especially during this Covid 19 Pandemic before investing their hard-earned monies on doubtful entities such as BITACCELERATE / BITACCELERATEPROJECT.COM / BA / BITACCELERATOR. Nevertheless, the Commission assures the public that it will continuously monitor and oversee such entities and their activities in a way that it sees as proper in order to prevent the proliferation of their unauthorized and/or illegal operations in the country. As always, the Commission warns all unscrupulous individuals and/or entities that strict penalties are imposed for violations of the Securities Regulation Code, the Revised Corporation Code, and such other rules and regulation enforced by the Commission. Source: SEC Advisory on BITACCELERATE
6. YUMBOSS CORPORATION/YUMBOSS PUTOK BATOK/ FRESH SMART SUPER STORE, INC.
The Commission has received information that YUMBOSS CORPORATION/YUMBOSS PUTOK BATOK/FRESH SMART SUPER STORE, INC., are engaged in UNAUTHORIZED investment-taking activities. YUMBOSS CORPORATION/YUMBOSS PUTOK BATOK/FRESH SMART SUPER STORE, INC., claims that for just 350K (all in) you can earn 16,000 to 20,000 monthly for the next three (3) years and enjoy 25% discount at any of the Putok Batok Restaurants. The President of YUMBOSS CORPORATION is MARVIN J. OJEDA, and its office is located at 146 Sumulong, Mayamot, Antipolo City.
Based on the information gathered by the Commission YUMBOSS CORPORATION/YUMBOSS PUTOK BATOK/FRESH SMART SUPER STORE, INC. are offering investments to the public that offers Co-Ownership Program of Yumboss Putok Batok Restaurant and Fresh Smart Grocery wherein a “co-owner” invests Php350,000.00 and Php500,000.00, respectively to earn 16,000 to 20,000 monthly for the next three (3) years and enjoy 25% discount at any of the Putok Batok Restaurants.
Based also on the information gathered by the Commission, presented is the computation of the co-ownership program being offered by YUMBOSS CORPORATION/YUMBOSS PUTOK BATOK/FRESH SMART SUPER STORE, INC:
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 while YUMBOSS CORPORATION and FRESH SMART SUPER STORE, INC. are registered with the Commission as corporations, however, they are NOT AUTHORIZED to offer, solicit, sell or distribute any investment/securities to the public. Such activities require a Secondary License from the Commission and the securities or investment product should likewise be registered with the SEC before they can be offered or sold to the public under Sections 8 and 12 of the Securities Regulation Code (SRC). Both entities were NOT issued such license by the Commission. Source: SEC Advisory on YUMBOSS
5. RGS WORLD MARKETING CORP.
The Securities and Exchange Commission (“Commission”) has received information that individuals or groups of persons representing RGS WORLD MARKETING CORP. have been soliciting investment from the public. It appears that RGS WORLD MARKETING CORP. operates under different business names, such as: RGS ONLINE SHOP, RGS ONLINE MARKETING and RGS FOUNDATION.
Records of the Commission showed that RGS WORLD MARKETING CORP.is a corporation registered with the Commission on 10 December 2020 under Company Registration No. CS202069716.Furthermore, RGS ONLINE SHOP/RGS ONLINE MARKETING was issued with a Business Name Registration by the DTI under Business Name No. 2240745 on 14 October 2020. However, RGS FOUNDATION is not registered with the Commission.
RGS WORLD MARKETING CORP. and its related entities are headed by Mr. Rodolfo Garcia Salarda, Jr., Mr. Henje Noble Cuadra, and Mr. Engie Esteves.
Based on information gathered by the Commission, RGS WORLD MARKETING CORP and its related entities appears to be adopting a certain scheme such as the COMPLANS to which all investors are grouped according to the Complans they choose. The minimum investment is Php1,000 and one can invest with no limit. Thus, the investors’ Php1,000 will turn to 3,500 (250%); Php5,000 to Php17,500 (250%); Php10,000 to Php35,000/P40,000(250%to 300%); Php20,000 to Php80,000 (300%) within a month or so depending on the Complan and payout system. And the higher amount, the higher the payout.
As shown in various Facebook posts, there are three (3) ways to earn in RGS WORLD MARKETING CORP.:
1.Referral Bonus (More invites, more bonus and Payouts)
2.Direct Selling (in every Php1,000 membership, you will have RGS Products for personal use or sale)
3.Board Bonus/ Payouts (with no time frame)
Investigation disclosed that the lynchpin of RGS WORLD MARKETING CORP.’s scheme is its First In FirstPay Out Policy and No Invite No Pay Out Policy which means an investor is no longer required to do anything,i.e., sell RGS Soap and RGS Liniment Oil as among others, except to wait for the return of his or her money.
At the onset, the Multi-Level Marketing of RGS WORLD MARKETING CORP. appears that the company is engaged in Chain Distribution or Pyramid Sales Scheme which is prohibited by the Republic Act No. 7394 or the Consumer Act of the Philippines as the company relies heavily on recruitment of potential members rather than selling its products.
Taken as a whole, and based on the reports, the alleged Multi-Level Marketing is a sham to conceal the fact that RGS WORLD MARKETING CORP. is engaged in the solicitation of investment. The public must be wary that any promise of massive rates of return with little or no risk is an indication of a Ponzi Scheme where monies from new investors are used in paying fake “profits” to earlier 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. It must be clear that entities engaged in such activities likely tend to disappear shortly to the prejudice of their stakeholders.
Please be informed that although RGS WORLD MARKETING CORP. is a registered corporation under the Revised Corporation Code of the Philippines, and while RGS ONLINE SHOP/RGS ONLINE MARKETING are registered with the DTI, nonetheless, all of them are NOT AUTHORIZED TO SOLICIT INVESTMENTS FROM THE PUBLIC as they did not secure prior registration and/or license to solicit investments from the Commission as prescribed under Section 8 of the Securities Regulation Code.
The public should be made aware that the issuance of a Certificate of Incorporation only grants entities juridical personality but does not constitute an authority or license for the corporation to engage in activities that require a secondary license from the SEC such as License to Issue, Sell, or Offer Securities to the Public. Consequently, the public is advised to exercise caution in dealing with any individuals or group of persons soliciting investments for and on behalf of RGS WORLD MARKETING CORP.,RGS ONLINE SHOP/RGS ONLINE MARKETING and RGS FOUNDATION and other related entities engaged in solicitation activities. Source: SEC Advisory on RGS
7. JAMSMART
Based on the information gathered by the Commission, a number of individuals or groups of persons claiming to represent JAMSMART headed by Niño Luis A. Jamili are enticing the public to invest their money in said entity. As posted online, JAMSMAR is offering investments to the public in its so-called “Franchise Investment Program” where an investor shall earn a total guaranteed 300% return on investment in a year.
Below is its current offering to the public where an investor may co-own an outlet by investing as low as Php75,000.00 for an equivalent of 5% shares. For every 5% shares, there is a monthly 7% interest amounting to Php5,250.00, a Php4,750.00 allocated monthly sales shares, and a Php4,750.00 fixed allocated dividend for a total annual return on investment of Php225,000.00:
On the other hand, an investor may opt to avail a 100% Franchising Agreement amounting to Php1,500,000.00 where such investor shall earn a monthly interest equivalent to 10% and monthly percentage earnings equivalent to 15% totaling 300% return on investment annually.
Considering that 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 8 and 28 of the SRC.
To date, contrary to the representation of JAMSMART that it is registered with SEC, records show that JAMSMART is not registered with the Commission either as a corporation or as a partnership. 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 SEC Advisory on JAMSMART
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 epd@sec.gov.ph.
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