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 if illegal entities:
1. IMMEDIATE EDGE
IMMEDIATE EDGE appears to have been created by a certain individual using the pseudonym EDWIN JAMES and is notorious for using fake celebrity endorsement similar to the modus of BITCOIN REVOLUTION.As posted online, IMMEDIATE EDGE claims that it is the world’s most intelligent cryptocurrency software which can be used to conveniently buy and sell cryptocurrencies.
Seemingly, for a minimum investment of Two Hundred Fifty Dollars (USD 250.00), IMMEDIATE EDGE promises to find and complete the best trading deals for its investors on different trading platforms available with a success rate as high as98.9%per transaction resulting to a potential income of Nine Hundred Fifty Dollars (USD 950) to Two Thousand Two Hundred Dollars (USD 2,200.00)or 380% to 780% increase in profit daily which is certainly “too good to be true.”
IMMEDIATE EDGE 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). SEC Advisor on Immediate Edge
2. ACT MACHINERIES
Based on the records of the Commission, ACT MACHINERIES is not registered as a corporation or as a partnership with the SEC. Likewise, it does not have a Certificate of Authority to Operate as a Lending/Financing Company. Hence, said entity has no authority to engage in any kind of lending activities. Republic Act No. 9474, otherwise known as the Lending Company Regulation Act of 2007(LCRA),and Republic Act No. 8556, or the Financing Company Act of 1998(FCA),provide that no lending or financing company shall conduct business unless granted authority by the Commission.
Likewise, the LCRA and FCA prohibit the act of holding out as a lending or financing company, or representing oneself as such, through advertisements in whatever form without authority from the Commission. In view of the foregoing, the public is hereby advised to avoid or stop participating in any kind of credit activities conducted by ACT MACHINERIES and dealing with any individual representing it. SEC Advisory on Act Mahineries
3. CROWDBIT-88
Based on information gathered by the Commission, individuals and groups of persons representing CROWDBIT-88.COM (CROWDBIT-88)owned and operated by Hazel Tesoro Figueroa, a.ka. Hazel Taguinod Figueroa are engaged in investment-taking activities not authorized by the Commission.
CROWDBIT-88 entices the public by recruiting them to become members through its so-called Invest Wait and Earn (IWE) Crowdfunding Bit In Bit Out. There are2 complansofCrowdbit-88, the first is Crowdbit Original where you can invest for as low as Php100 and earn200% ROI for 15 days Lock-in Program.
Per records of the Commission, CROWDBIT-88is not registered as a corporation or partnership. However, CROWDBIT-88 BEAUTY PRODUCTS TRADING has been conferred Certificates of Business Name Registration under BNN 198635 and 1984028 issued to Hazel Taguinod Figueroa/Hazel Tesoro Figueroa both on July 20, 2020. Nonetheless, CROWDBIT-88 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 Crowdbit
4. PHILHELP ADMINISTRATION OF FINANCIAL MARKETING/PHILHELP INTERNATIONAL LENDING CORPORATION (“PhilHelp”)
PhilHelp (with website: https://www.philhelp.net/) is engaged in the so-called “Peer-to-Peer Lending” and operates a P2P Funding Platform or virtual marketplace where borrowers and lenders purportedly meet and interact directly. Through said platform, PhilHelp offers and extends different types of loans (personal loan, fast loan, palengke loan and insta loan) to borrowers. On the other hand, through PhilHelp’s facility, investors/lenders sign up and deposit/contribute money to be pooled by PhilHelp to fund these loans and in turn, receive returns on their investments.
PhilHelp is also NOT REGISTERED either as a crowdfunding intermediary or a funding portal under SEC Memorandum Circular No. 14, Series of 2019, or the Rules and Regulations Governing Crowdfunding. Accordingly, 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, the Lending Company Regulation Act, and such other laws, rules and regulations enforced by the Commission. SEC advisory on Philhelp
5. ACHIEVERS GOLDEN MARKETING AND CONSULTING’s (AGMC) and ACHIEVERS GOLDEN HOLDINGS INC. (AGHI)
This Advisory is prompted by an inquiry received by the Securities and Exchange Commission (“SEC”) from a concerned citizen regarding ACHIEVERS GOLDEN MARKETING AND CONSULTING’s (AGMC) and ACHIEVERS GOLDEN HOLDINGS INC.(AGHI)investment-taking activities. Based on the attachment included in the email, AGMC offers a CASH BACK GUARANTEE PROGRAM wherein one may invest a minimum amount of Php5,000.00 to as high as Php1,000,000.00 and promises are turn of as much as 1% daily or 30% monthly for a period of 180 days as shown in the table below.
ACHIEVERS GOLDEN MARKETING AND CONSULTING claims that it is engaged in crowdfunding services where all trader affiliates who do not have a comprehensive knowledge about multi trading and don’t like to venture into direct trading are open to ride or join AGMCservices.It is headed by its President and owner Mr. ARNEL T. ARATIA. AGMC operates at different office addresses, to wit: (1)2ndFloor Room2 Valencia Corporate Center Arellano Street, Davao City;(2)19thFloor, Crimsons Hotel Building, Alabang, Muntinlupa City 1780 and (3) Sto. Niño, Biñan City. It also claims that its industries are diverse, such that, it is advertised as a crowdfunding entity and in another, a marketing agency.
Per records of the Commission, ACHIEVERS GOLDEN MARKETING AND CONSULTING is not registered in the Commission’s database as a corporation or partnership. On the other hand, ACHIEVERS GOLDEN HOLDINGS INC.is registered with SEC Registration No. CS201956248issued on 07 NOVEMBER 2019. Both ACHIEVERS GOLDEN MARKETING AND CONSULTING and ACHIEVERS GOLDEN HOLDINGS INC. are not authorized to solicit investments from the public as the above-mentioned entities 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 on AGMC and AGHI
6. RAGING BUSINESS CONSULTANCY SERVICES (RBCS)
Based on information gathered by the Commission, individuals and groups of persons representing RAGING BUSINESS CONSULTANCY SERVICES(RBCS)owned and operated by Malaya Dava Platero, a.k.a. Malaya Gemma Platero, are engaged in investment-taking activities not authorized by the Commission.
RBCSentices the public by recruiting them to become their business partner through its so-called FUND ACCUMULATOR PROGRAM with a guaranteed return of 1% per day or 30% per month depending on the capital shared, i.e. minimum of Php5,000 to Php1,000,000 for the contract period of 12 months or 360 days.
Per records of the Commission, RBCS is not registered as a corporation or partnership. However, it has been issued a Certificate of Business Name Registration on 11 May 2020 by the Department of Trade and Industry under Business Name No. 1692495. Nonetheless, 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 of the Securities and Exchange Commission.
Further, RBCS is also NOT REGISTERED either as a crowdfunding intermediary or a funding portal under SEC Memorandum Circular No. 14, Series of 2019 or the Rules and Regulations Governing Crowdfunding. SEC advisory on RBCS.
7. HOTON RETAIL AND SERVICES INCORPORATED
Based on information gathered by the Commission, a number of individuals or group of persons representing HOTON RETAIL AND SERVICES INCORPORATED(“HOTON”), are enticing the public to invest their money in said entity.
According to their website hotonretail.com, “with the HOTON Franchise partnership program, a potential stakeholder will simply invest a certain amount of capital to any of the Hoton’s retail store nationwide. In the long run, they will get returns on investment based on the store’s income. The partnership program from Hoton is unique and is completely compatible for anyone who doesn’t have a ridiculously large sum of money but still wants to invest in a legitimate business venture.”
Records of the Commission show that while HOTON RETAIL AND SERVICES, INC. is registered with the Commission as a corporation with Company Registration No. CS201816275, however, such registration only grants juridical personality to the corporation but does not authorize it to issue, sell or offer for sale securities to the public nor undertake business activities requiring a secondary license from the Commission. SEC Advisory on HOTON.
8. MINING CITY
Based on numerous reports and information gathered by the Commission, there are certain individuals or groups of person enticing the public, through a popular social media platform or through their own independent websites, to invest in MINING CITY.
According to the website o fMINING CITY (MINING CITY.COM), its CEO is one GREGORY ROGOWSKI. While ANTHONY AGUILAR is the Philippine Team Leader of Mining City in the Philippines. With regard to MINING CITY PHILIPPINES Facebook Page, it is maintained by one JHON REY GREY as admin of the said account.
As posted in their Website, Facebook page, and video uploaded in YouTube Channel, you can start a business by registering first, then you can choose from any of the three (3) BITCOIN VAULT PLANSwhich are, PRIMARY BTCV($300 or Php16,500.00), STANDARD BTCV($600 or Php33,000.00),BRONZE BTCV($1,200 or Php66,000.00), SILVER BTCV($2,400 or Php132,000.00), GOLD BTCV($4,200 or Php231,000.00and PLATINUM BTCV ($12,600 or Php693,000.00), accordingly. Investors can earn $1.5 to $2 (Php100.00) or up to $69 to $92 (Php5,000.00)daily for 1100 days depending on what plan they get. You can also earn from direct referral and indirect referral from 5% up to 10% and for direct binary and indirect binary $200 or $10.
Based on the foregoing, MINING CITY’s so-called smart contracts or MINING CITY CONTRACTS partake of the nature of securities in the form of investment contracts under the regulatory jurisdiction of the Commission.
Briefly, an “investment contract” exists when there is an investment or placement of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others which is prominent in MINING CITY’sscheme.
Therefore, MINING CITY must be duly registered with the Commission, and that any person or entity intending to offer and sell its investment contract are required to secure the necessary registration and/or license from the Commission as well. However, per our record, MINING CITY is NOT REGISTERED with the Commission 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). SEC Advisory on Mining City.
9. CRISTIANO ALBERTO REAL ESTATE FUND (“CAREFUND”) by Xian Gaza
Based on information gathered by the Commission, CHRISTIAN ALBERT GAZA, more popularly known as XIAN GAZA is enticing the public to invest their money in CRISTIANO ALBERTO REAL ESTATE FUND (“CAREFUND”).
According to their website carefund.net, CAREFUND is an international venture capital group under the leadership of Christian Albert Gaza, who is also a real estate financier in Southeast Asia and the Chief Executive Officer/Chief Investment Officer of SINDICATO CRISTIANO GROUP OF COMPANIES.
CAREFUND is composed of a 100-million-pesofund which is divided into 5,000 shares. Minimum amount of investment is Php 20,000 equivalent to (1) one share and the maximum amount of investment is Php 1,000,000 equivalent to (50) fifty shares. This kind of deposit is similar to a time depositor term deposit which has a lock-in period of 2 years or 24 months.
Records of the Commission show that CAREFUND is not registered as a corporation, partnership, or association. Likewise, CAREFUND is not authorized to offer its investment scheme to the public, which constitutes securities, without a registration statement duly filed with and approved by the commission under Section 8.1 of the Securities Regulation Code(SRC). SEC Advisory on CAREFUND.
10. HNP – HÖGPONG NG PAGTUTULUNGAN
The Commission hereby warns the public that HNP –HÖGPONG NG PAGTUTULUNGAN is offering loan services to the public and soliciting investments without the appropriate registration and authority from the Commission.
According to information gathered by the Commission, HNP –Högpong ng Pagtutulungan, founded by its CEO, Nacsonin Canopin, was initially enticing the public, specifically seafarers, to take out personal and business loans which they offer as a form of “assistance” to the financial needs of said seafarers. They later also offered said services to employees of shipping companies and even private entity employees.
HNP –Högpong ng Pagtutulunganoffers the following loanable amount: Php20,000.00, Php50,000.00 and Php80,000.00 with an interest rate of 3%-5% monthly.A member may also invite or refer prospective clients to avail of the loan services and earn a commission for every successful invite.
However, an invited client must first pay a membership fee of Php1,000.00 to be able to take out a loan. The said membership fee is divided between the company and the one who referred the clientas his/her commission. Once the loan is fully paid, the one who referred the client will again receive a commission from the loan payments and the recruit may now become an investor by investing aminimum amount of $400.00 with a guaranteed 5% monthly income or 60% profit share annually without doing anything.
HNP –Högpongng Pagtutulungan is likewise not authorized to offer its investment scheme to the public, which constitutes securities, without a registration statement duly filed with and approved by the Commission under Section 8.1 of the Securities Regulation Code.
In view thereof, the public is hereby advised to exercise caution in dealing with any individual or group of persons offering loan services and investment opportunities on behalf of HNP –Högpong ng Pagtutulungan. The public is further advised NOT TO INVESTor to STOP INVESTING in the investing scheme offered by the subject entity or any of its representatives. SEC Advisory on HNP.
11. WORLD OF SURVEY (“WOS”)
Based on the information gathered by the Commission, a number of individuals or group of persons claiming to represent WORLD OF SURVEY(“WOS”) headed by a certain Jasser June Cailing Cruz, are enticing the public to invest their money in said entity.
As posted online, WORLD OF SURVEYis offering investments to the public by investingamemberamounting to Php1,000.00 per account. A member may avail of up to fifty(50) accounts.
Considering that 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 the appropriate registration and/or license to offer and sell such securities to the public pursuant to Section 8 of the SRC.
Those who act as salesmen, brokers, dealers or agents or claim to act as such for WORLD OF SURVEY in selling or convincing people to invest in the investment scheme being offered by said entity 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.
Also, those who invite or recruit others to join or invest in such venture or offer investment contracts or securities to the public may incur criminal liability, or otherwise be sanctioned or penalized accordingly as held by the Supreme Court in the case of the Securities and Exchange Commission vs. Oudine Santos(G.R. No. 195542, 19 March 2014). 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 WORLD OF SURVEY and to exercise caution in dealing with any individuals or group of persons soliciting investments for and on behalf of it. SEC Advisory on WOS.
12. CHIYUTO CREATIVE WEALTH DOCUMENT FACILITATION SERVICES (“CCWDFS”)
Based on the information gathered by the Commission, a number of individuals or group of persons claiming to represent CHIYUTO CREATIVE WEALTH DOCUMENT FACILITATION SERVICES (“CCWDFS”),headed by PATROCENIO CALVEZ CHIYUTO,JR. aka Don Chiyuto, are enticing the public to invest their money in said entity.
As posted online, CHIYUTO CREATIVE WEALTH DOCUMENT FACILITATION SERVICESis offering investments to the public by availing of their so-called Double-Your-Money “Roulette” game investment with a minimum amount worth Php1.00 up to a maximum of Php1Million.
The member will earn one hundred percent (100%) for 1 day, 30 days, or 45 days, respectively, depending on the result of the spin of the roulette wheel. The company will then issue a promissory note in the name of the member-investor with the corresponding amount representing his payout and the date of maturity or when he is supposed to claim the same.
Considering that the above-described scheme involves the offering and sale of securities to the public in the nature of an investment contract, 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 CHIYUTO CREATIVE WEALTH DOCUMENT FACILITATION SERVICES 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. SEC Advisory on CHIYUTO CREATIVE WEALTH DOCUMENT FACILITATION SERVICES.
13. KAIZEN MARKETING ENTERPRISE
Based on the information gathered by the Commission, the operators of the debunked BUILDING OUR SUCCESS STORIES NETWORK INC.1(“Boss Network”) is now using KAIZEN MARKETING ENTERPRISE under the control of its President, Mr. Gerald Alvarez Rivas to continue its illegal activities by offering to the public its Certified Entrepreneur Online (CEO) program.
Per records of the Commission, KAIZEN MARKETING ENTERPRISE IS NOT registered either as a corporation or as a partnership with the Commission, and consequently, IT CANNOT secure a secondary license to solicit, accept, or take investments/placements from the public nor to issue investment contracts and other forms of securities under Section 3 of the Securities Regulation Code (SRC) as prescribed under Sections 8 and 28 of the Securities Regulation Code (SRC).
Hence, those who act as salesmen, brokers, dealers or agents or claim to act as such for the offering of KAIZEN MARKETING ENTERPRISE in selling or convincing people to invest in the investment scheme being offered by said entity 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. SEC Advisory on Kaizen Marketing
14. BITFINANCEINVESTMENT.LTD
The Securities and Exchange Commission has received information that individuals or groups of persons representing BITFINANCEINVESTMENT.LTD with website https://bitfinanceinvestment.ltd/are enticing the public to invest in their company.
Per its website, BITFINANCEINVESTMENT.LTDis a new online platform offering guaranteed, risk-free investments plans purportedly to be invested in cryptocurrency trading, as follows:
As shown above, BITFINANCEINVESTMENT.LTD offers investment plans with a promise of return of at least 20% every 5 hours to as much as 150% every 72 hours + principal depending on the type of “Plan” chosen by the investor.
However, per our records, BITFINANCEINVESTMENT.LTD is NOT REGISTERED with the Commission 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).
BITFINANCEINVESTMENT.LTD is also NOT REGISTERED either as a crowdfunding intermediary or a funding portal under SEC Memorandum Circular No.14, Series of 2019 or the Rules and Regulations Governing Crowdfunding.
Likewise, its name 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. SEC Advisory on BITFINANCEINVESMENT.
15. 1 HEAL 1 WORLD TRADING
Information gathered from online sources and reports from the public show that individuals or groups of persons representing 1 HEAL 1 WORLD TRADING are enticing the public to invest their money in the entity which claims to be engaged in forex trading.1 HEAL 1 WORLD TRADING is providing a GUARANTEED Return of Investment to investors at 170% in just 25 days. The payout will be given in 4 cycles with a 5% deduction.
The public is hereby informed that 1 HEAL 1 WORLD TRADING is not registered with the Commission either as a corporation or as a partnership and is 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).
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 (SEC vs. Oudine Santos, G.R. No. 195542, 19 March 2014).
In view thereof, the public is hereby advised NOT TO INVESTor STOP INVESTINGin any investment scheme being offered by any individual or group of persons allegedly for or on behalf of 1 HEAL 1 WORLD TRADING and to exercise caution in dealing with any individuals or group of persons soliciting investments for and on behalf of it. SEC Advisory on 1 Heal 1 World Trading.
16. JUAN SAVINGS BEING OPERATED BY ITS FOUNDER, ALEJANDRO “ALI” G. SARONA
Information gathered from online sources and reportsfrom the public show thatJUAN SAVINGSis claiming to be engaged in a legitimate forex trading businessand has its own professional traders. It is allegedly being operated by its founder, ALEJANDRO “ALI”G.SARONA.
JUAN SAVINGSis providing a GUARANTEED fixed interest rate to investors, starting at 7% for thirty (30) business days. The investment is locked-in for ten (10) months where an investor is expected to get his profits monthly within the period of the 10-month contract and the full amount of investment at the end of the 10thmonth.
A Facebook (FB) account named “Juan Savings” using the URL https://www.facebook.com/JuanSavingsOfficial/is actively soliciting investments as shown in the following screenshot of an FB post:
The public is hereby informed that JUAN SAVINGS 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).
Further, ALEJANDRO “ALI” G. SARONA has NOT been issued a license by the SEC as an Associated Person, Compliance Officer, Salesman and/or Certified Investment Solicitor of a Broker-Dealer in Securities, Investment House, Underwriter of Securities, Investment Company Adviser and/or Mutual Fund Distributor.
Moreover, the Commission does not allow the registration of Foreign Exchange (FOREX) in the nature of Commodity/Financial Futures Contract, Contracts for Difference (CFDs) and other similar derivatives nor their merchants/brokers as the pertinent rules governing these securities remain suspended pursuant to Rule 11 of the 2015 Implementing Rules and Regulation of the SRC.
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.
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].
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. Sept 26, 2020, StockBytes PH
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