New Scam Alerts! Oct-Nov 2020

scam alert

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. OLYMPRO STOCKTRADING WEB CONTENT PUBLISHING (OLYMPRO)

Based on the information gathered by the Commission, a number of individuals or group of persons claiming to represent OLYMPRO STOCKTRADING WEB CONTENT PUBLISHING(OLYMPRO),headed by CHRISTIAN MARK LACSON PEREDO, are enticing the public to invest their money in said entity.

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As posted on their website, (http://www.olympro.org/) OLYMPROis a private platform promising 20% interest in just 8 days. However, reports from the public that said website as well as Christian Mark Pedero’s Facebook page along with all associated Facebook accounts of his admins/staff and the Olympro Facebookgroupwere taken down on 1 October 2020.

The records of the Commission show that OLYMPRO STOCKTRADING WEB CONTENT PUBLISHINGis not registered with the Commission either as a corporation or as a partnership. However, OLYMPRO STOCKTRADING WEB CONTENT PUBLISHINGhas been issued a Certificate of Business Name Registration on 23 August 2020 by the Department of Trade and Industry with Business Name No. 2102561 under its owner CHRISTIAN MARK LACSON PEREDO.

Nonetheless,OLYMPRO STOCKTRADING WEB CONTENT PUBLISHINGis 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 Sections8.1 of the SRC. Likewise, CHRISTIAN MARK LACSON PEREDOis not a registered or licensed capital market professional such as a broker in securities or a salesman, trader, or associated person thereof under Section 28.1 of the SRC and is also not authorized to solicit investments from the public.

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 OLYMPRO STOCKTRADING WEB CONTENT PUBLISHING and CHRISTIAN MARK LACSON PEREDO and to exercise caution in dealing with any individuals or group of persons soliciting investments for and on behalf of them. Source : SEC Advisory on OLYMPRO STOCKTRADING

2. BITCOIN DIGITAL

Based on information gathered by the Commission, the entity operating under the name “BITCOIN DIGITAL ”utilizing the domain “www.bitcoindigital.com” is soliciting investments in the Philippines WITHOUT THE NECESSARY LICENSE AND/OR AUTHORITY from the Commission. To wit: Similar to BITCOIN REVOLUTION and IMMEDIATE EDGE which are subjects of our previous SEC Advisories, BITCOIN DIGITAL is also an unregulated entity with unknown operators and is using FABRICATED or FAKE celebrity endorsements online including Finance Secretary Carlos G. Dominguez III in promoting its scheme. To show:

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BITCOIN DIGITAL claims to be a new “wealth loophole” which offers a lucrative money-making scheme that will help the public build fortunes overnight through its “award-winning” cryptocurrency investment platform or automated-trading program promising a success rate of Ninety-Nine Percent (99%) per transaction similar to the modus of other cookie-cutter websites already flagged by the Commission as scams.

Apparently, for a minimum investment of Two Hundred Fifty Euros(€ 250.00)or almost Fifteen Thousand Pesos (Php 15,000.00),BITCOIN DIGITALpromises a potential income as high as Five Hundred Euros to Two Thousand Euros (€ 500.00 -€ 2,000.00) or 100% to 700%profitdailyin exchange for a very small percentage therefrom for the use of its application which is surely a“too good to be true” investment program.

The public is warned of such possible “Ponzi Scheme” similarly devised like other cryptocurrency scams which systems or structures are based and/or relative to the offering and selling of securities, in the form of investment contracts, to the public due to their promise of lucrative passive income. Source: SEC Advisory on BITCOIN DIGITAL

3. MINING CITY, PROPHETEK MINING CITY, OPC 

This DISCLAIMER-ADVISORY is prompted by numerous reports, inquiries, including posts and videos circulating on social media and video-sharing sites where it has been made to appear that MINING CITY or variations of its name such as, among others, PROPHETEK MININGCITY, OPC and other entities connected with it, have completed the SEC company registration process or have in fact been registered with the Commission.

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This is apparently an effort by individuals or group of persons to mislead the public using such false representations to create a semblance of legality to the operations of MINING CITY for the purpose of enticing the public to invest in its schemewhich was subject of an ADVISORY issued by the Commission on September 10, 2020.

Hence, contrary to these claims and for the guidance and information of the public, per records of the Commission, MINING CITY, PROPHETEK MINING CITY, OPC, or any variation of such name using the root word MINING CITY or any entity connected with it,areNOT REGISTERED with the Commission. Likewise, contrary to said false representations, MINING CITY, PROPHETEK MINING CITY, OPC, or any variation of such name using the root word MINING CITYor any entity connected with it, have not been issued a secondary license to solicit investments or offer securities to the public for whatever purpose as provided under Sections 8 and 28 of the SRC.

As such, MINING CITY, PROPHETEK MINING CITY, OPC or any entity related to MINING CITY, are NOT AUTHORIZED to solicit, offer, 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: SEC Advisory on Mining City

4. COINMAX.PH

Based on the information gathered by the Commission, a number of individuals or group of persons claiming to represent COINMAX.PH headed by a certain VALERIE TIU, are enticing the public to invest their money in said entity.

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As posted online, COINMAX.PH is offering investments to the public by availing either any of the following accounts: Basic Account with 90% return for 15-25 days, and Gold and Premium Account with 150% return for 40 or 70 days, respectively.

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Accordingly, a member shall only need to invest, wait, and earn without having to do anything. As the above described schemes involved the sale of securities to the public, the Securities Regulation Code (SRC) requires that these securities are duly registered and that the concerned corporation and/or its agents have appropriate registration and/or license to sell such securities to the public pursuant to Section 8 of the SRC.

The records of the Commissions how that COINMAX.PH 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 COINMAX.PH.

5. SHARELINK ADS AND CRYPTO TRADING

Based on the information gathered by the Commission, a number of individuals or group of persons claiming to represent SHARELINK ADS AND CRYPTO TRADING, headed by a certain Cedric V. Suarez, are enticing the public to invest their money in said entity.

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As posted online, SHARELINK ADS AND CRYPTOTRADING, purportedly engaged in digital marketing and cryptocurrency trading, is offering investments to the public where a member must invest Php1,500.00 per account.

Considering that the a fore mentioned 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 8.1 and 28.1of the SRC. Per records of the Commission, SHARELINK ADS AND CRYPTO TRADING is NOT registered either as a corporation or a partnership. However, SHARELINK ADS AND CRYPTOTRADINGDIGITAL MARKETING SERVICES has been issued a Certificate of Business Name Registration on 29 September 2020 by the Department of Trade and Industry with Business Name No. 2203997 under the name of CEDRIC V. SUAREZ.

Nonetheless, both SHARELINK ADS AND CRYPTO TRADING and SHARELINK ADS AND CRYPTOTRADING DIGITAL MARKETING SERVICES are NOT AUTHORIZED to solicit investments from the public since they have not secured prior registration and/or license from the Commission as prescribed under Sections 8 and 28 of the SRC. Source: SEC Advisory on Sharelink Ads

6. RODRIGO DUTERTE CHARITY FOUNDATION with Bangko Sentral ng Pilipinas “Handog Maagang Pamasko Pangkabuhayan” and “Handog Pangkabuhayan PRESIDENT: RODRIGO DUTERTE CHARITY FOUNDATION

This ADVISORY is prompted by recent reports from the public who received text messages using the name of the President, telling the recipient that they have won the amount of Seven Hundred Fifty Thousand Pesos (Php750,000.00) through an electronic raffle, from the PRESIDENT: RODRIGO DUTERTE CHARITY FOUNDATION with Bangko Sentral ng Pilipinas “Handog Maagang Pamasko Pangkabuhayan” and “Handog Pangkabuhayan.” The recipient is instructed to contact a hotline number. To give a semblance of authenticity, a government approval number, such as one allegedly from the Department of Trade and Industry is quoted in the text message, such as “DTI#0432 Series of 2020.”

Below is a sample of these recent TEXT SCAM messages:

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The Commission has received similar reports before of the proliferation of such TEXT SCAMS using the name of the President with a similar content, to wit:

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Despite the Advisory of the Commission on these TEXT SCAMS which was posted on 2 April 2020, these kinds of scams continue to proliferate. Hence, the Commission reiterates its 2 April 2020 Advisory that the PRESIDENT: RODRIGO DUTERTE CHARITY FOUNDATIONis NOT REGISTERED with the Commission as a Corporation.

Further, the Policy and Specialized Supervision Sector of the Bangko Sentral ng Pilipinas has confirmed that the alleged electronic raffle is a fake. The public is further informed that an Advisory, warning the public on Text Scams, was issued by the Bangko Sentral ng Pilipinas dated May 13, 2015, stating that the BSP does NOT sponsor or engage in any games of chance, raffle, or lottery of nature in said TEXT SCAMS. SEC Advisory on said text SCAM

7. CASHDROP/CASHDROP ONLINE STORE

Based on the information gathered by the Commission, a number of individuals or group of persons claiming to represent CASHDROP/CASHDROP ONLINE STOREheaded bya certain JONATHAN PUENTE, are enticing the public to invest their money in said entity.As posted online, CASHDROP entices the public to invest online or through the internet by availing either of the following packages and shall be entitled to “double your money or200% return (PAYOUT) in 15 days”.

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As posted online, CASHDROP entices the public to invest online or through the internet by availing either of the following packages and shall be entitled to “double your money or200% return (PAYOUT) in 15 days”.

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Accordingly, a member shall only need to invest, wait, and earn without having to do anything. As the above described schemes involved the sale of securities to the public, the Securities Regulation Code (SRC) requires that these securities are duly registered and that the concerned corporation and/or its agents have appropriate registration and/or license to sell such securities to the public pursuant to Section 8 of the SRC. Per records of the Commission, CASHDROP/CASHDROP ONLINE STORE is NOT registered either as a corporation or a partnership.

However, CASHDROP ONLINE STORE has been issued a Certificate of Business Name Registration on 03 October 2020 by the Department of Trade and Industry with Business Name No. 2215760 under the name of JONATHAN ALBERT NUŇEZ PUENTE. Nonetheless, CASHDROP/CASHDROP ONLINE STORE 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. SEC Advisory on CASHDROP


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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