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. MAXXPROFIT COMPUTER TRADING – Jonard Laurilla
Based on the information gathered by the Commission, a number of individuals or groups of persons claiming to represent MAXXPROFIT COMPUTER TRADING (known as “MAXX PROFIT”)headed by JONARD LAURILLA, are enticing the public to invest their money in said entity.
As posted online, MAXX PROFITis offering investments to the public by availing eitherany of the following accounts with guaranteed earnings of 200% in just a matter of 12 days.
Further, a member is entitled to a direct bonus equivalent to 50% whenever such member recruits, and a Unilevel Bonus of 1% up to the 10thlevel. Since the above-described scheme involves the offering 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 8a nd 28 of the SRC.
The records of the Commission show that MAXXPROFIT COMPUTER TRADING/MAXX PROFIT 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 SRC.
Hence, those who act as salesmen, brokers, dealers, or agents or claim to act as such for MAXXPROFIT COMPUTER TRADING/MAXX PROFIT in selling or convincing people to invest in the investment scheme being offered by the 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. Source: SEC Advisory on MAXXPROFIT Computer Trading.
2. MASA MART BUSINESS CENTER OPC
The Securities and Exchange Commission (“Commission”) has received information that individuals or group of persons representing MASA MART BUSINESS CENTER have been soliciting investment from the public.
It appears that MASA MART BUSINESS CENTER operates under different registrations, to wit:
- MASA MART BUSINESS CENTEROPC(MMBC OPC) -a corporation registered with the Commission on 11 March 2020 under Company Registration No. 2020030000224-00; and
- MASA MART BUSINESS CENTER-registered with the Department of Trade and Industry (DTI) with Certificate No. 1514401 issued on 29 January 2020.
Records of the Commission further showed that another entity, MASA MART ENTERPRISE OPC(“MME OPC”), a corporation registered with the Commission on 09 March 2020 under Company Registration No. 202003000157-01 also operates out of the same principal address as MMBC OPC at MARC IV 9056, Jose Abad Santos Ave., Salawag 4114 City of Dasmariñas, Cavite Philippines.
Both MMBC OPC and MME OP Care under the name of JESSIE R. ROYO as its single stockholder/director/president with the same nominee and alternate nominee namely, Annabelle Tansiongco Muros and Emery Jestine Palevino Royo.
The name of Jessie R. Royoalso appeared in the DTI Business Name Registration System Portal. It may be recalled that the Commission issued an Advisory dated 14 April 2020 against TBCMMP1MASA MART INC.(“TBCMMP”)a registered corporation with SEC Registration No. CS201815816 issued on 31 July 2018.
Based on its Articles of Incorporation, it appears that Jessie R. Royois the President. Based on information gathered by the Commission, MASA MART BUSINESS CENTER and its related entities appear to be adopting the same scheme of TBCMMP and still offer the SUBSCRIPTION AND GAINS PROGRAM. Under this program, a member may invest for as low as One Thousand Two Hundred Fifty Pesos (Php1,250)up to Five Hundred Million Pesos (Php 500,000,000.00) and promises, depending on the selected lock-in period (i.e., 3 months, 6 months, and 1 year), a return ranging from Two Thousand Seven Hundred Forty-Six (Php 2,746)up to Eleven Billion Six Hundred Forty-Nine Million Forty-Two Thousand Five Hundred Sixty-Three Pesos (Php11,649,042,563.00), respectively.
Noticeably, almost the same compensation plan can be found in the Commission’s Advisory against TBCMMP, to wit:
Similar to the TBCMMP scheme, payment of a minimum subscription of Twenty Five Dollars (USD25)or One Thousand Two Hundred Fifty Pesos (P1,250.00)to the maximum subscription of USD10,000,000 or Five Hundred Million (P500,000,000.00)in MASA MART, entitles the investor to a “gain” ranging from thirty percent(30%) monthly up to two thousand five sixty-one and eighty-one percent (2561.81%) per annum. The gain depends on the option availed of by the investor, i.e., monthly or a “lock-in” period of 3 months, 6 months or 1 year. Notably, the following are the other programs offered by MASA MART, namely:
(1) The MMBC P5,888 Combo Package-where aside from Php6,000 worth of products, the investment earns Php78.4 per day or a total of Twenty Thousand (Php 20,000)after six (6) months;
(2) Do It Yourself Subscription of 24 Months, Roll-Over Program-where an investor can opt to invest: (a) Php 20,000 which becomes Php100,000 in a year or Php 12 Million in 2 years; (b) Php 35,328 which for a lock-in period of 6 months, with a daily earning of Php.78.40 a day, turns into Php120,000 in a year; and (c) Php 100,000which becomes Php500,000 in a year or Php 63.4 Million in 2 years; and
(3) The United Masa Coin (UMC), now known as XUM Coin and the UmcUSDTbot-where for investments ranging from Php1,250 to Php100,000 there are corresponding equivalents in USDTor Tether(worth Php50 or $1 = equivalent to 10 XUMs)or XUM(1 XUM is worth Php5)with packages from 3 months to a year with compounding and monthly payouts with referral system; 4) Referral Program where for recruiting other members, entitles an investor to incentives such as a car or a house and lot.
Please be informed that MASA MART BUSINESS CENTER OPC and MASA MART ENTERPRISE OPC registered as One Person Corporations under the Revised Corporation Code of the Philippines and MASA MART BUSINESS CENTER, registered with the DTI 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.
MASA MART BUSINESS CENTER OPC, MASA MART ENTERPRISE OPC, and MASA MART BUSINESS CENTER also 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.
Moreover, both UNITED MASA COIN (UMC) and X United Masa (XUM) are not included among the list of the generally accepted virtual currencies posted on the World Coin Index and Coin Market Capwebsites. Worse, it appears that no open exchanges allow the trading of UMC and XUM so MASA MART seemingly manages its own digital exchange platform contrary to Sections 32 of the SRC on the “Prohibition on Use of Unregistered Exchange.”
Accordingly, those who invite or recruit other people to join or invest in this venture or offer investment contracts or securities to the public may be held criminally liable under Section 28 of the SRC penalized with a maximum fine of Five Million Pesos (P 5,000,000.00) 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). Source: SEC Advisory on Masa Mart.
3. EXTREMEBOT CORPORATION – Mon Carlo A. Castro
Based on the information gathered by the Commission, a number of individuals or group of persons claiming to represent EXTREMEBOT CORPORATION(with various names being used in social media such as: Extremebot Online Shop, Mac.ph Advertisement, Extremecorp130; MACBOT; Extremecorp100)headed by Mon Carlo A. Castro, are enticing the public to invest their money in said entity.
As posted online, EXTREMEBOT CORPORATION is offering investments to the public in the guise of a membership fee ranging from Php135.00 to Php160.00 (per different versions of the purported online platform) where a member shall earn:
1.Through unlimited captcha typing or solving maths problem and shall earn per captcha ranging from Php.010 to Php0.080;
2.Php40.00 for every direct referral;and
3.Php10.00 and Php5.00 for every indirect referral on the 1st and 2nd level, respectively.
That while EXTREMEBOT CORPORATION has been registered as a corporation, 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 28of the SRC.
Hence, those who act as salesmen, brokers, dealers or agents or claim to act as such for EXTEREME BOT CORPORATION in selling or convincing people to invest in the investment scheme being offered by the 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. Source: SEC Advisory on EXTREMEBOT CORPORATION.
4. LOKAL.PLATE CORPORATION – Brian James D. So
Based on the information gathered by the Commission, a number of individuals or group of persons claiming to represent LOKAL.PLATE CORPORATION (known as “Lokalplate”in social media) headed by Brian James D. So, are enticing the public to invest their money in said entity.
As posted online, LOKALPLATE is offering investments to the public under the guise of franchising where a “franchisee” invests Php12,888.00 to earn Php40,000.00 to Php80,000.00 per month. Further, a franchisee only needs to share a link, which, when clicked by anyone who wants to order from the affiliated food service provider of Lokalplate, the franchisee earns 15% to 20% of the purchase price of the ordered food. A franchisee able to recruit another prospect also earns a commission of Php3,00.00 for every direct referral.
Considering that the scheme involves the sale of securities to the public in the form of investment contracts, the Securities Regulation Code (SRC) requires that these securities be 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.
Per records of the Commission, although LOKAL.PLATE CORPORATION has been registered as a corporation under Company Reg. No. CS202005888 on 7 August 2020, 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 28of the SRC. SEC Advisory on LOKALPLATE.
5. GREENLIFT WELLNESS PRODUCTS TRADING – Jessie Santos Gamboa
The Securities and Exchange Commission has received information that individuals or group of individuals representing GREENLIFT WELLNESS PRODUCTS TRADING (“Greenlift”) under Jessie Santos Gamboa (a.k.a. Jessie Boa) are enticing the public to invest their money in the said entity with the promise of monetary rewards or profits.
GREENLIFT is enticing the public to invest through its 3 Ways to Earn:
Since said scheme involves the 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 Sections 8.1 and28.1 of the SRC.
Per records, GREENLIFT WELLNESS PRODUCTS TRADING is not registered with the Commission either as a corporation or as a partnership. However, GREENLIFT WELLNESS PRODUCTS TRADING has been issued a Certificate of Business Name Registration on 07 September 2020 by the Department of Trade and Industry with Business Name No. 2144915 under the name of its owner/CEO, Ms. JESSIE SANTOS GAMBOA.
Nonetheless, GREENLIFT WELLNESS PRODUCTS TRADING 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 GREENLIFT
6. ALISURVEY ADVERTISEMENT MARKETING SERVICES – SHERWIN D. ABASOLO and ALLAN CHRISTOPHER T. ARGUELLES
The Securities and Exchange Commission (“Commission”) has received information about the investment-taking activities of ALISURVEY ADVERTISEMENT MARKETING SERVICES which is owned and headed by Mr. SHERWIN D. ABASOLO and Mr. ALLAN CHRISTOPHER T. ARGUELLES.
Based on information gathered by the Commission, SHERWIN D. ABASOLO and ALLAN CHRISTOPHER T. ARGUELLES entice the public to become members of ALISURVEY ADVERTISEMENT MARKETINGSERVICES. It claims to be engaged in the business of loading and ticketing service, online survey, and manufacture and sale of perfume. ALISURVEY ADVERTISEMENT MARKETINGSERVICES offers different ways to earn which will also depend on the kind of package that the investors would avail of, but in a nutshell, it focuses on the following:
ALISURVEY ADVERTISEMENT MARKETING SERVICES also offers different packages namely:
As it appears, ALISURVEY ADVERTISEMENT MARKETING SERVICES is engaged in a Chain Distribution Plan or Pyramid Sales Scheme. However, a closer look at its “BUY, WAIT AND EARN PACKAGES” would reveal that it is also engaged in solicitation of investments. As the name of the package implies, the “BUY, WAIT AND EARN PACKAGES” guarantees profits amounting to SIXTEEN AND SIXTY-SEVEN PERCENT (16.67 %) MONTHLY REBATES for twelve months or annual guaranteed profit of TWO HUNDRED PERCENT (200%), more or less. The investors of the “BUY, WAIT AND EARN PACKAGES” need not do anything in order to receive this guaranteed monthly rebates except to infuse capital into the company.
Per record of the Commission ,ALISURVEY ADVERTISEMENT MARKETING SERVICES is REGISTERED as a partnership. However, 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.
The public should be made aware that the issuance of a Certificate of Incorporation or Partnership 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 a License to Sell Securities to the Public.
The public must be wary that any promise of ridiculous rates of return with little or no risks is an indication of a Ponzi Scheme where monies from new investors are used in paying fake “profits” to earlier investors. Also, any promise that defies the normal financial logic is surely unreliable and sketchy.
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, and such other rules and regulation enforced by the Commission.
Hence, those who act as salesmen, brokers, dealers or agents or claim to act as such for ALISURVEY ADVERTISEMENT MARKETING SERVICES 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 ALISURVEY ADVERTISEMENT MARKETING SERVICES
7. CUBEBIT 2.0, CUBEBIT, and CUBEBIT PHILIPPINES
Based on information gathered by the Commission, the entity operating under the names CUBEBIT 2.0,CUBEBIT, and CUBEBIT PHILIPPINES(CUBEBIT 2.0)utilizing mainly the domain “www.cubebit.io” aside from other websites soliciting investments in the Philippines WITHOUT THE NECESSARY LICENSE AND/OR AUTHORITY from the Commission.
CUBEBIT 2.0 appears to be operated by its new CEO and Co-Founder KONSTANTIN JANKE together with former CEO PAUL SCHWARTZ, Global Ambassador ROMEL GUMIRAN, Chief Global Advisor DAVE BAGUYO, and Founding Members SHERMAN SAGER,ALLAN TAD-Y,JOE BEDORE, and JOJO TAN among others.
Similar to the modus of other entities already flagged by the Commission as scams, CUBEBIT 2.0 claims to provide the most profitable and secured platform for users to grow digital assets and passive income online through its extensive ecosystem which includes the CUBE SHOP, CUBE ACADEMY, CPAY, I-PLAY,ADCUBE or its crowdfunding and referral system program, CUBEX online trading platform, CUBEBOT automated cryptocurrency trading program, and the sale or Initial coin offering(ICO) of its CUBECOIN token (CUB). As posted:
Basically, CUBEBIT 2.0’s actual compensation plan and money-making scheme focuses primarily on its supposed trading and crowdfunding programs which offers memberships to its “LITE Account” for € 49.00 or almost Php 3,000.00per account, and its “ELITE Account ”for € 299.00 or almost Php 17,500.00per account, with corresponding referral, binary, uni-level bonuses and leadership ranking incentives as shown above which seems to be “too good to be true.”
As regards to trading, CUBEBIT 2.0’s minimum subscription fee is € 100.00 or at least Php 5,800.00 with a guaranteed daily profit ranging from 0.80% to 2.5% for 180 days or a total of 144% to 450% increase in revenue after the said period with an additional income of 5% based on the amount of every added investment made by the user or subscriptions placed by direct referrals.
Accordingly, the public is again warned of such a possible “Ponzi Scheme” offering high-yielding investments online. Please note that 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, CUBEBIT 2.0 is NOT REGISTERED with 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).CUBEBIT 2.0 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. CUBEBIT 2.0’sCUBEX likewise operates without the proper registration nor have a pending application for registration with the Commission relative to Section 32 of the SRC on the “Prohibition on Use of Unregistered Exchange.”To wit:
Additionally, CUBEBIT 2.0is NOT INCLUDED 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).
Hence, the public is advised NOT TO INVEST or STOP INVESTING in any scheme offered by CUBEBIT 2.0 that promise ridiculous rates of return with little or no risk. As always, the public is encouraged to constantly check the Commission’s website at “www.sec.gov.ph” and its Official Facebook page at“ Securities and Exchange Commission Philippines(@PhilippineSEC)” for further announcements, information and/or guidance with regard to investment. Thus, be an #INVESTigator.“#MagINVESTiga” and “#HuwagMagingBiktima.”
Those who act as salesmen, brokers, dealers or agents of such unauthorized entities like PAUL HERMOSA, ANDREW CASTILLO, ROWEL RAŇA and ELLANOR MACABALLUG in 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 and73 of the SRC.
Further, the public is informed that offering and sale of securities in the form of investment contracts using the “Ponzi Scheme” which is fraudulent and unsustainable, is NOT a 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. A “Ponzi Scheme” is a scam that involves a 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 CUBEBIT 2.0.
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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