Scam Alert! The Securities and Exchange Commission (SEC) to shutdown get rich quick scams.
Early this month SEC released name of groups soliciting investments from the public without prior authority, These companies are 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).
Please see the list below if illegal groups:
1. WON PROJECT, WON NETWORK, and WON FOUNDATION
WON PROJECT and its WONCOIN claims that it is based and developed in Singapore where it asserts that it has a virtual office but apparently, its main team and management composed of Jay Mark Abenir, Mhedel Ponce, Jhomar S. Montoya, and Jiaxuan Hoan, its Singaporean advisor, operates here in the Philippines.
While WON PROJECT avers that its main projects are its mobile application and Multi-level Marketing (MLM) platform which aim to tokenize OFW remittances, online payments, digital-loading services, air ticketing, and travel and tours, its
present endeavors rather suggest that its primary scheme or objective is generally to sell and trade it’s so-called “WONCOIN” to the public. Source..
2. FACEBOOK ACCOUNT NAMED “FIL-INVEST”
Based on verification conducted, the FIL-INVEST subject of this SEC Advisory is NOT IN ANY WAY RELATED TO OR CONNECTED WITH THE LISTED COMPANY, FILINVEST DEVELOPMENT CORPORATION (FDC), AND ANY OF ITS SUBSIDIARIES INCLUDING FILINVEST LAND, INC. (FLI) AND EAST WEST BANKING CORPORATION (EWBC) NOR THEY HAVE ANY AFFILIATION THERETO.
According to the information gathered, the public is invited to invest to earn passive income ranging from 5% to 20% monthly return. Apparently, the pooled investments are used by the group to finance their gambling activities, particularly, in playing Baccarat. Source..
3. CRYPTO INVEST WITH US (CIWU)
Based on reports from the public and as posted on Facebook Messenger Group Chat (FB), the official website of CRYPTO INVEST WITH US (CIWU) and its YouTube Channel, CRYPTO INVEST WITH US (CIWU) is the new name of MAG INVEST KA ONLINE (MIKO). Their investment scheme has been changed from 2% daily and 200% after 100 days to a guaranteed 1% return after 6 days (equivalent to 30% return monthly or 360% return per annum)and possibly 5%, 8%, 10%, or up to 20% return weekly allegedly depending upon trading.
Accordingly, the scheme of CRYPTO INVEST WITH US (CIWU) illegally involves on offering and sale of securities, in the form of investment contracts, to the public. Source..
4. ACCELERARE MAIN PH/ ACCELERARE PH/ACCELERARE/ ACCELERARE CAR TRADING/ ACCELERARE FOREX TRADING
Based on the aforementioned information and reports from the public, ACCELERARE/ ACCELERARE MAIN PH/ ACCELERARE PH/ ACCELERARE/ ACCELERARE CAR TRADING/ ACCELERARE FOREX TRADING are one and the same entity founded by HARLOU ANGELO CRAMPATANTA BOLIMA, with principal office and showroom located at BLOCK 3 LOT 14 DOÑA SOLEDAD AVENUE EXTENSION, DON BOSCO, PARAÑAQUE CITY.
As posted online, being a CERTIFIED ACCELERARE PARTNER, you are entitled to passive income bonuses and can earn exclusive commissions (for partner referral and Car sales). There is no membership fee, all you need to do is do a pay-in
and they will provide you a personal dashboard where you can monitor your investment.
ACCELERARE has two (2) lines of business such as:
1. CAR TRADING (CAR FINANCING, CAR RENTAL, BRIDAL CAR RENTAL, CAR LISTING, AND CAR AGENT), and
2. FOREX TRADING (FOREIGN EXHANGE). Source..
5. XTREME HOUSE OF BEAUTY TRADING CORPORATION (“XTREME” for brevity)
Based on information gathered by the Commission, the entry packages for the marketing plan of XTREME are:
1) SSS Package – Php 1,888.00
2) Bronze Package – Php 6,888.00
3) Silver Package – Php 14,888.00
4) Gold Package – Php28,888.00
Apart from the above mentioned packages, XTREME has just recently offered to the public two entry packages worth Php 1,588 and Php 1,988, respectively, and promised “DOUBLE YOUR MONEY IN 30 DAYS” to investors who availed of any of the two packages.
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 and in behalf of XTREME and to exercise caution in dealing with any individuals or group of persons soliciting investments for and on behalf of said entity. Source..
6. NEXUS P CAPITAL by GK MARKETING LIMITED
NEXUS P CAPITAL by GK MARKETING LIMITED, a company incorporated under the laws and regulations of the Marshall Islands, U.S.A., is engaged in investment-taking activities in the Philippines which is NOT AUTHORIZED by the Commission.
NEXUS P CAPITAL promotes its scheme through endorsements on the internet and transacts investments and other related activities with the public using the domain “www.nexuspcapital.com.”
As posted online, NEXUS P CAPITAL offers a number of account types and credit token schemes with corresponding trading benefits that promise lucrative return of investments through the use of its unique web-based cryptocurrency and forex trading platforms provided by SIRIX. Source..
7. CAPTCHA PHILIPPINES INCORPORATED, a.k.a. “CAPTCHA PHILIPPINES”
As posted online https://capcha.ph, CAPTCHA PHILIPPINES is offering investments to the public by:
Being a “Captcha Philippine Shareholder” where an investor earns 25% weekly of
his investment;
Captcha Solving where a member is required to purchase an account amounting to Php2,500.00 entitling such member to earn up to Php500.00 daily (20% return daily), or Php 15,000.00 monthly (600% return monthly);
Referral where a member shall earn an unlimited Php 125.00 for every recruit. In Captcha Solving, Php1.00 shall be earned for every directly-typed correct captcha by the member; and Php1.00 per every correct captcha typed by the members’ recruits up to his/her 3rd level. In each referral per level, maximum of 120 captcha per day shall be paid, but not to exceed Php500.00 per day.
In Referral, Php125.00 shall be earned UNLIMITED for every recruit up to the third level. The first level pertains to the direct recruit of the member; the second level pertains to the recruit of a a member’s downline; while the third level pertains to the recruit of the indirect recruit. Source..
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 criminally liability, or otherwise be sanctioned or penalized accordingly as held by the Supreme Court in the case of Securities and Exchange Commission vs. Oudine Santos (G.R. No. 195542, 19 March 2014).
Moreover, the Securities and Exchange Commission DOES NOT insure the investments of investors in any corporation. 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 mentioned above and to exercise caution in dealing with any individuals or group of persons soliciting investments for and on behalf of said entities.
7. XM TRADING MARKETING SERVICES and/or XM TRADING OFFICIAL
Based on the information gathered by the Commission, the Entities lure the public to invest in the company by allegedly making them “shareholders.” Basically, the scheme is to entice the public to invest their money to the company and without any other participation or efforts from the investors, they will be entitled to twenty-five percent profit of the investment capital every twenty days (20 days)for three cycles. On the fourth cycle, i.e., the last cycle, the investor will be entitled to twenty-five percent profit plus the return of the investment capital.
It portrays to the public that it is engaged in the following programs, projects, and services:
1. Sponsorship of Pro Gamer Advertising Streams and live Game Streamers;
2. Cryptocurrency and Forex Trading;
3. Manufacturing/ Wholesale Perfume Industry Business;
4. Car Loan Financing Program; and
5. Manufacturer of other Products and etc.
IN VIEW WHEREOF, the Public is hereby advised to exercise caution in dealing with XM TRADING MARKETING SERVICES and/or XM TRADING OFFICIAL or persons purporting to be its representatives. Source..
8. BAYANIHAN PROGRAM by BILLY FORD ANDRADA
Information gathered from online sources and reports from the public show that the BAYANIHAN PROGRAM OF BILLY FORD ANDRADA entices the public to invest a minimum amount of PhP2,000.00 with a promise of 50% return of investment. In addition, a member will also earn a 5% direct referral bonus. In enticing the public to invest, BILLY FORD ANDRADA also offered promotions such as 15% direct commission and PhP300.00 bonus for every investment of PhP2,000.00.
The public is hereby informed that BAYANIHAN PROGRAM 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, BILLY FORD ANDRADA 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 has issued an Advisory on 23 January 2020 against BILLFORD TRADING and BILL FORD VIP TRADING INC. for soliciting investments from the public in the guise of a piggery business. The name of BILLY FORD DELOS SANTOS ANDRADA was likewise mentioned in the said Advisory as the owner of the two (2) companies. Source..
9. MY GOLD REV/MY GOLD REV PHILIPPINES
Per records of the Securities and Exchange Commission, MY GOLD REV / MY GOLD REV PHILIPPINES are not registered either as a corporation or partnership. Furthermore, said entities are not authorized to solicit investments from the public as they did not secure prior registration and/or license to solicit investments as prescribed under Section 8 of the Securities Regulation Code.
Everyone is reminded that aside from the strict penalties imposed by the Commission for violations of the Securities Regulation Code, the Revised Corporation Code, and such other rules and regulation 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 Covid-19 crisis situation to prey on the public through scams, phishing, fraudulent emails, or other
similar acts.
In view thereof, the public is hereby advised to exercise caution in dealing with any individual or group of persons soliciting investments for and on behalf of MY GOLD REV/ MY GOLD REV PHILIPPINES. The public is further advised NOT TO INVEST or to STOP INVESTING in the investment scheme being offered by the subject entities or their representatives. Source..
10. FRIEND$HIP/FRIEND$HIP PHILIPPINES
Information gathered from online sources and reports from the public show that FRIEND$HIP/FRIEND$HIP PHILIPPINES entices the public to invest by offering an online business with a minimum investment, also called as the subscription fee, of $7.99 or Php385.00 and a promise of earning $1.00 per successful referral in the “1st level down to the 5th level generational network globally.” Said subscription fee may be paid using PayPal, banking system, visa card or bitcoin.
FRIEND$HIP is said to be an American company with business address at #319 Neptune Avenue, Jersey City, New Jersey, USA. It is allegedly being headed by its CEO and President, RODNELIO “RON” CHANG CAPUA, as shown in various FB posts.
The public is hereby informed that FRIEND$HIP/FRIEND$HIP PHILIPPINES 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). Source..
11. WORLD OF CAPTCHA (WOC), by CHARLES SERRANO
Per records of the Commission, WORLD OF CAPTCHA is NOT registered either as a corporation or a partnership. Having no primary registration/corporate franchise, with more reason that it is NOT AUTHORIZED to solicit investments from the public since it has not secured prior registration and/or license from the Commission as prescribed under Sections 8 and 28 of the SRC.
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 CAPTCHA and to exercise caution in dealing with any individuals or group of persons soliciting investments for and on behalf of it. Source..
12. AQUITEK FOOD TRADING (AQUITEK)
AQUITEK claims that it is a company that manufactures and specializes in all natural healthy products using highly sophisticated manufacturing technology. They also claim that they are the makers of Maxifit Slimming Coffee with Chia Seeds and Maxijuice with Purple Corn and Collagen. The Chairman and CEO of AQUITEK is Mr. ANGELITO CAMACHO QUINTANA and its office is located at Km 31 Phoenix A Gas Station Vicinity, San Pedro, Laguna.
As posted online, AQUITEK offers five ways to earn income, namely:
1.Direct Selling- Recruited investors will get 20% to 50% profit by selling AQUITEK products based on the package chosen because members are given up to 50% discount of the products;
2. Pairing Bonus- Paylite (Php 599.00 package) recruited investors get Php 300.00 for every sales match left and right while Premium (P2,000.00 package) recruited investors get Php 1,000.00 for every sales match left and right;
3. Unilevel Bonus- the recruited investors earn points value on every repeat orders;
4. Leadership Bonus; and
5. Lifestyle Incentives- redeeming of points based on the 5th pair points.
Per record of the Commission, AQUITEK is NOT registered with the Commission as a corporation or partnership nor is it 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..
13. MR LIFESTYLE E-COMM COMPANY by Mr.Reynaldo Tuazon a.k.a. Rey Tesoro
Based on the information gathered by the Commission, a number of individuals or group of persons claiming to represent MR LIFESTYLE E-COMM COMPANY (Formerly: DON HERALDO MR.LIFESTYLE E-COMM COMPANY) [MR LIFESTYLE for brevity] headed by Mr. Reynaldo Tuazon a.k.a. Rey Tesoro, are enticing the public to invest their money in said entity.
Per records of the Commission, MR LIFESTYLE E-COMM COMPANY (Formerly: DON HERALDO MR.LIFESTYLE E-COMM COMPANY) although registered with the Commission as a partnership, however, such registration does NOT AUTHORIZE it 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.
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 MR LIFESTYLE E-COMM COMPANY (Formerly: DON HERALDO MR.LIFESTYLE E-COMM COMPANY) and to exercise caution in dealing with any individuals or group of persons soliciting investments for and on behalf of it. Source..
14. PAYADSTARS/PAY AD STARS
Based on reports from the public and Facebook (FB) postings, PAYADSTARS/PAYAD STARS is enticing the public to invest in the said entity with a promise of earning a return of 1.8 to 2% daily in 100 days or the equivalent of 180 % to 200% in a period of 100 days. As posted on their Facebook page, you can start a business by registering first, then you can choose from any of the three (3) types of entry plans namely: PLAN ALPHA, PLAN BETA, and PLAN CHROME and you can also earn from direct referral ranging from 1% (level 3), 2% (level 2) and 7% (level 1).
According to its Facebook page (PAYADSTARS OFFICIAL, the admins are MUHAMMAD ASIF, JAKE VILLANUEVA, KELY ISOM TOLAR and JAI RAY. Based on the Facebook profile of JAKE VILLANUEVA, he stated that he is the owner of the PAYADSTARS/PAY AD STARS.
PAYADSTARS/PAY AD STARS is NOT REGISTERED as a corporation or partnership with the Commission and has NO SECONDARY LICENSE to solicit, accept or take investments/placements from the public nor to issue investment contracts and other forms
of securities defined under Section 3 of the Securities Regulation Code (SRC). Source..
15. I EARN 01 TRADING INC. (“iEarn”) by Madelaine Sakay
Based on the information gathered by the Commission, a number of individuals or group of persons claiming to represent I EARN 01 TRADING INC. (“iEarn”) headed by Ms. Madelaine Sakay, are enticing the public to invest their money in said entity.
As posted online, iEarn is offering investments to the public by availing of either its Basic Package worth Php899.00 or Premium Package worth Php1,000.00:
Remarkably, the Php1,000.00 investment shall turn into Php2,200.00 in just twenty (20) days, on top of the other ways to earn.
Below are the ways to earn:
1. By watching videos, a basic package shall earn a total maximum of Php1,100.00 in 10 days or a 100% return in 10 days, while a premium package shall earn a total maximum of Php2,200.00 in 20 days or 100% return in 20 days. A member, by watching the very same video earns Php22.00 per video play for a maximum of 5 times per day; Note: The maximum earning of Php1,100.00 and Php2,200.00 is on a per account basis. A member may avail up to a maximum of 31 accounts.
2. By direct selling where a member shall earn 30% discount for every product sale; and
3. By direct referral, where a member shall earn an unlimited direct referral bonus equivalent to 10% from the package availed of by his direct recruit, that is, Php90.00 for basic package and Php100 for premium package .By matching where a member shall earn the following sales match bonus for every matched
downline in his structure.
Note: Upon reaching the maximum pair, a member is required to reactivate his account by paying either Php899.00 or Php1,000.00 according to the package intended to be reactivated.
5. By recruitment where a member shall earn unilevel bonus either Php10.00 (for basic) or Php20.00 (for premium) from the recruit of his direct recruit up to the 5th level.
Per records of the Commission, I EARN 01 TRADING INC. is registered with the Commission as a corporation, however, such registration specifically provides that the same DOES NOT AUTHORIZE INVESTMENT SOLICITATION AND INVESTMENT-TAKING
WITHOUT A SECONDARY LICENSE FROM THIS COMMISSION and verily, the corporation has not secured prior registration and/or license from the Commission as prescribed under Sections 8 and 28 of the SRC. Source..
16. R3DCON PHILIPPINES CORPORATION (R3DCON) and INVESTOR’S CHOICE,
Based on the information gathered by the Commission, the entities operating under the names R3DCON PHILIPPINES CORPORATION (R3DCON) and INVESTOR’S CHOICE, operated by RAYMOND C. MABUNGA, GILLANY P. DELA CRUZ, RAFAEL L. BANAL, REYMARK LEGASPI, and DARLTON S. CRUZ, with office address at MA Jaro, Building, Block 55, Lot 7, Golden Mile, Salawag,
Dasmariňas, Cavite, 4115, are engaged in activities NOT AUTHORIZED by the Commission.
Accordingly, R3DCON and INVESTOR’S CHOICE are offering investment opportunities whereby investors devote their monies in a common enterprise that R3DCON and INVESTOR’S CHOICE have established and are led to expect profits
primarily through the efforts of latter. Such schemes are analogous to an investment contract as defined under the Securities Regulation Code (SRC). Hence, such securities are required to be registered with the Commission and that the concerned corporation and/or its agents must have appropriate registration and/or license to sell such securities to the public.
However, per record of the Commission, only R3DCON is registered as a corporation but both R3DCON and INVESTOR’S CHOICE 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). Source..
17. BUILDING OUR SUCCESS STORIES NETWORK INC. (“BOSS Network”) and 101UPPER CLASS CORPORATION a.k.a BOSS ULTIMATE PROGAM.
Based on the information gathered by the Commission, a number of individuals or group of persons are enticing the public to join the collaboration of BUILDING OUR SUCCESS STORIES NETWORK INC. (“BOSS Network”) and 101UPPER CLASS CORPORATION
(“Upperclass”) known as BOSS ULTIMATE PROGAM (“BOSS UP”).
As the aforementioned schemes involve the offer and 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.
Per records of the Commission, BUILDING OUR SUCCESS STORIES NETWORK INC. and 101UPPERCLASS CORPORATION are registered as corporations with the Commission, while their so-called collaboration, BOSS ULTIMATE PROGRAM a.k.a. BOSS UP is not registered as a corporation, partnership or joint venture with the SEC. All of them, however, have NO SECONDARY LICENSE to solicit, accept or take investments/placements from the public nor to issue investment contracts and other forms of securities defined under Section 3 of the Securities Regulation Code (SRC) since they have not secured prior registration and/or license from the Commission as prescribed under Sections 8 and 28 of the Securities Regulation Code (SRC). Source..
18. IPAYOUTWEEKLY by Mr. REYMARK MABULAC CALLOS
Based on the Information gathered by the Commission, a number of Individuals or group of persons claiming to represent IPAYOUTWEEKLY headed by its CEO Mr. REYMARK MABULAC CALLOS, are enticing the public to invest their money in the said entity.
To start an online venture with IPAYOUTWEEKLY, an individual may avail of their entry package worth 1,000 pesos per slot with a maximum of 31 slots. 1,000 pesos turns to 1,400 pesos in just 7 days which is equivalent to a 40% income based from the amount invested. After paying for the chosen entry package, a member can now have access to its services and bonuses feature which can be opened through its website at www.ipayoutweekly.net.
Allegedly, IPAYOUTWEEKLY is registered with the Department of Trade and Industry (DTI) with the business name of IP WEEKLY ADVERTISING SERVICES under the name of Mr. REYMARK MABULAC CALLOS. However, per records of the Securities and Exchange
Commission, IPAYOUTWEEKLY is not registered with the Commission as a corporation or partnership and has no secondary license to solicit, accept or take investments/placements from the public nor issue investments contracts and other forms of securities defined under Section 3 of the Securities Regulation Code (SRC). Source..
19. COMMODORE AGRI-VENTURES HOLDING CORPORATION.
COMMODORE AGRI-VENTURES HOLDING CORPORATION claims that it bought Sixty percent (60%) of the shares of Requiza Poultry and RQZ Mining to continue and expand the latters’ business. Based on the information gathered by the Commission, COMMODORE AGRIVENTURES HOLDING CORPORATION entices the public to invest in the company by allegedly making them “shareholders”. COMMODORE AGRI-VENTURES HOLDING CORPORATION offers one share in the amount of THREE THOUSAND FIVE HUNDRED PESOS (PhP 3, 500.00). It promises to pay ten percent (10%) of the share(s) as pay-out in a span of one to two weeks.
Further, COMMODORE AGRI-VENTURES HOLDING CORPORATION has a “Referral Program” where if you invited a person to invest in the company, you will get ten percent (10%) of the amount of your referral’s purchase. In addition, you will get one percent (1%) bonus from the invites of your referral.
The public is hereby informed that COMMODORE AGRI-VENTURES HOLDING CORPORATION is a registered corporation. However, the Commission did not issue a secondary license to COMMODORE AGRI-VENTURES HOLDING CORPORATION. Therefore, it is not authorized to offer, solicit, sell or distribute any investment/securities to the public as such activities require a Secondary License from the Commission. Source..
The SEC reiterates its advice for the public to exercise caution when presented with information about KAPA to avoid falling into the trap of what could be one of the country’s most notorious scammers.
KAPA supporters and promoters have been circulating videos featuring a purported telephone interview with Mr. Apolinario, falsely claiming that all cases against KAPA have been dismissed, amid the COVID-19 pandemic.
The interview was first posted on May 7 on the YouTube channel of Bong Cagape. Excerpts of the interview would be shared by other channels such as KAPA UPDATES and nino malunhao. Danny Mangahas and Roger Camingawan would also release commentaries about the effects of the alleged dismissal of the cases against KAPA.
The SEC emphasizes that the criminal cases filed against KAPA for violations of the Securities Regulation Code remain active and that the cease and desist order issued by the Commission was made permanent and, thus, remains in full force and effect. It also notes that the certificate of incorporation of KAPA was revoked as early as April 2019. Accordingly, KAPA cannot resume its operations more so its investment-taking activities
Source : CRIMINAL CASES AGAINST KAPA ACTIVE, CEASE AND DESIST ORDER IN FORCE ; SEC Advisory regarding KAPA video
Updated. May 31, 2020, StockBytes! PH
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