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. FORSAGE
Operators of FORSAGE asserts that its program is designed as a Crowdfunding International Platform or a Smart Contract Crypto Earning Program based on the Ethereum blockchain technology which apparently provides a long-term active and passive income to investors through its crowdfunding referral system that appears to be a secured, scam-free, and inexpensive investment yet assuring a lucrative return with little or no risk.
FORSAGE claims that its program will continue to function even if its website “www.forsage.io” is closed for any reason. It even implied that the Government cannot shut it down because it is decentralized and thus free from any authority. As posted online,FORSAGE offers Twelve (12) investment slot packages or levels for its two (2) Commission Payout Systems or Compensation Plansreferredas the“X3” and “X4 Partner income” with a minimum investment of 0.05ETHor at least SixHundred Pesos (Php 600.00)to a maximum of 51.2 ETHor almost Six Hundred Thousand Pesos(Php 600,000.00)depending on the chosen slot/s.
Moreover, the said scheme employed by FORSAGE clearly shows an indication of a possible Ponzi 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.
Hence, the public is advised not TO INVEST or STOP INVESTING in any scheme offered by FORSAGEor such other entities engaged in smart contracts, cryptocurrencies, and digital asset trading that are not registered with the Commission and the BSP. Read More: SEC on Forsage
2. RCASHONLINE
Information gathered from reports received by the Commission shows that RCASHONLINEentices the public to invest by offering a business opportunity through the following packages: (i) Starter Package: P18,660.00 for 1 account; (ii) Business Package: P55,980.00 for 3 accounts; and (iii) Elite Package: P130,620.00 for 7 accounts. The Elite Package is said to include PhP1M insurance. Likewise, reports revealed that RCASHONLINEis representing Royale Business and that Royale product are included in the abovementioned packages. It was emphasized that the member-investor will earn through recruitment rather than selling/reselling of products.
Further investigation online shows that cash online is employing the same schemes and is being managed by the same person or group of persons operating theONLINEBIZandtheELITE ENTREP BLUEPRINT, which have been the subjects of the Advisories issued by the Commission on 23 April 2020and27 February 2020, respectively.
It appears that the main strategy of the subject entity is to earn from recruitment, which is clearly unsustainable. The scheme of RCASHONLINErelies heavily on inviting people for a promise of high monetary rewards that can only be achieved through the recruitment of more people to participate in the scheme. Its enticement/advertisement focuses on attracting people to earn a huge amount of money rather than introducing the benefits or advantages of the products it offers.
The public is hereby informed that RCASHONLINE 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). Read More: SEC on RCASHONLINE.
3. WEALTHNESS GLOBAL
As posted online, WEALTHNESS GLOBALis offering investments to the public by availing either: Retailer Package (worth Php270.00); Distributor Package (worth Php1,850.00); or Elite Package (worth Php3,600.00).
Thebanner activity of the company is captcha-typing where a member shall be given a batch of captchas(30 captchas per batch) that arerequired to be solved and shall have an equivalent points ranging from 200 to 350 points. Accordingly, a member shall earn the following:
The minimum earning of Php8.00 shall be earnedby a member in about 40 minutes. Given the scenario that a member shall perform his bogus captcha typing in such a number of minutes, he shall earn a minimum of Php240.00 per month. And at the maximum earning of Php100.00, a member is only required to do the captcha-typingin just six (6) hours in a day and earn Php3,000.00in a month.
The public is advised NOT TO INVESTor STOP INVESTINGin any investment scheme being offered by any individual or group of persons allegedly for or on behalf of WEALTHNESS AM GLOBAL CORPORATIONand to exercise caution in dealing with any individuals or group ofpersons soliciting investments for and on behalf of it. Read more: SEC on Wealthness Corp
4. BTXTRADERS.COM
The Securities and Exchange Commission(“Commission”)has received information that individuals or group of persons representing “BTXTRADERS.COM” are enticing the public to invest their money in the said entity with the promise of high monetary rewards or profits by promoting 1) “BITCOIN”2) “NON-FARM PAYROLL” and 3) “NFP INVESTMENT GROUP” through the website: https://btxtraders.com/home/Examination of the abovementioned website showed that its business address is at 2815 George Dieter Dr. El Paso, TX 79936 USA.
Based on information gathered by the Commission, just by investing in BTXTRADERS.comin an amount ranging from Php1,000.00 up toPhp1,000,000.00 or $100 up to $90,000 members are shall earn a promised daily rate of return ranging from 3.5%to25%. To entice prospective clients, agents of BTXTRADERS.com offered for a limited time, an NPF INVESTMENT special promo –“a pooled investment funds in US dollars that would generate a 25% daily profit.”
Per records, “BTXTRADERS.COM” 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 as defined under Section 3 of the Securities Regulation Code (SRC). Read more: SEC on BTXTRADERS
5. SEASHORE BEACH CLUB, INC. (“SEASHORE”) and MAV DISCOVERY BEACH RESORT DEV’T CORP. “(“DISCOVERY RESORTS”).
Based on numerous reports and information gathered by the Commission, THE SEASHORE BEACH CLUB, INC.(“SEASHORE”)and MAV DISCOVERY BEACH RESORT DEV’T CORP.“(“DISCOVERYRESORTS”)headed by their president and chairman of the board Mr. Arnel S. Mindanao are found to be offering and selling club shares to the public without authority and license to do so.
According to their website theseashore.ph, SEASHOREis a membership resort, and the certificates issued to members are non-proprietary in nature. The project was allegedly conceptualized by its president Mr. Arnel S. Mindanao, who is a seasoned sales and marketing person having gained more than 20 years of experience in selling various real estate projects in the Philippines in the local market and to foreign nationals.
Furthermore, a Cease and Desist Order was already issued against SEASHORE on 31 August 2017, on the grounds of non-registration of securities, non-registration of broker or dealer of securities, and commission of ultra vires acts. On 24 January 2018, a settlement agreement was entered with the Commission. However, SRC Rule 55.1.3.11. is clear in stating that if the proposer shall fail to comply with any of the terms of the settlement offer, the settlement shall be considered withdrawn and the investigation or proceedings against the proposer shall be reinstated.
In view thereof, the public is hereby advised to exercise caution in dealing with any individual or group of persons engaged in securities solicitation for and on behalf of SEASHORE and DISCOVERYRESORTS. The public is further advised NOT TO INVEST or to STOP INVESTING in the securities being offered by the subject entities or their representatives. Read more: SEASHORE and DISCOVERYRESORTS
6. MILLION MONEY or MILLION.MONEY
The Securities and Exchange Commission(“Commission”)has received information that individuals or group of persons of person representing “MILLION MONEY”or “MILLION.MONEY”andpromotes “ETHEREUM” and “ETHEREUM SMART CONTRACT.”
Based on the website, it claims that: it is a smart contract or application running on the Ethereum cryptocurrency network. The application code is programmed to distribute incoming transfers among participants according to a specific algorithm”and ”distribute incoming transfers among participants to a specific algorithm”.Agents ofMILLION MONEYdeclares that it has no project administrator or admin, it is “100% decentralized DAPP, peer 2 peer payment, impossible to scam and impossible to hack.”Further, these agents advertise that Million Money turns a new member’s 0.03 ETH into 1,240 ETHsin 100 days.
Based on the foregoing, such investment schemes adapted by “MILLION MONEY” or “MILLION.MONEY” are considered as securities subject to the regulatory authority of this Commission. The offering and selling of securities to the public without a permit or license is a violation of Section 8.1. of the Securities Regulation Code.
Per records of the Commission, “MILLION MONEY” or “MILLION.MONEY” is not registered with the Commission as a corporation or partnership and NOT AUTHORIZED TO SOLICIT INVESTMENT FROM THE PUBLICas the above-mentioned entity did not secure prior registration and/or license to solicit investment from the Commission as prescribed under Section 8 of the Securities and Exchange Commission. Read more: SEC on MILLION MONEY
7. CAPTCHALINKZ DIGITAL MARKETING SERVICES
Based on the information gathered by the Commission, a number of individuals or groups of persons claiming to represent CAPTCHALINKZ DIGITAL MARKETING SERVICESheaded byJake D. Calinog/JakeD. Calino/Calinog JC Jake, are enticing the public to invest their money in said entity.
As posted online, CAPTCHALINKZ DIGITAL MARKETING SERVICESis offering investments to the public by paying Php499.00 per account. Upon joining, a member is automatically given forty (40) captchas that must be solved in four (4) days [ten (10) captchas per day] that entitles such member to earn Php10.00 for every captcha solved or for a total of Php400.00 or a return of 80% in 4 days.
The records of the Commission show that CAPTCHALINKZ DIGITAL MARKETING 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. Read More: SEC on CAPCHALINKZ
8. CEAZAR PACIFIC MONEY LENDING CO. LTD
Based on the records of the Commission, CEAZAR PACIFIC MONEY LENDING CO. LTD. does not have a Certificate of Authority to Operate as a Lending/Financing Company.
Hence, the said entity has no authority to engage in any kind of lending activities. CEAZAR PACIFIC MONEY LENDING CO. LTD. had registered with the Commission as a partnership. On 21 June 2017, however, the corporate Governance and Finance Department (the “Department”)revoked the entity’s Certificate of Registration for failure to obtain a Certificate of Authority to Operate as a Lending/FinancingCompany.In view of the foregoing, the public is hereby advised to avoid or stop participating in any kind of credit activities conducted by CEAZAR PACIFIC MONEY LENDING CO. LTD. and dealing with any individual representing it. Read more SEC on CEAZAR PACIFIC
9. LUCKY LIKERS DIGITAL MARKETING SERVICES
Based on the information gathered by the Commission, a number of individuals or group of persons claiming to represent LUCKY LIKERS DIGITAL MARKETING SERVICES, represented in the social media as “Lucky Likers Club” (LLC)headed byAL FRANZIS MATEO BRAGAIS, are enticing the public to invest their money in said entity.
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 CommissionshowthatLUCKY LIKERS DIGITAL MARKETING SERVICESis 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. Read more: SEC on Lucky Likers
10. MAXI TRENDY SALES CORPORATION, TRENDY UNLIMITED TRADING CORPORATION or “TRENDY”
Based on the information gathered by the Commission, a number of individuals or group of persons claiming to represent MAXI TRENDY SALES CORPORATION, TRENDY UNLIMITED TRADING CORPORATIONor “TRENDY”are enticing the public to invest/subscribe their money in said entities.
Remarkably, Trendy promises that a member paying an entry fee of P750 for the Starter Package or P1,500 for Gold Packagecan earn 100 to 1500per day and up to 45,000 per month of commission bonus.
Records of the Commission showed that MAXI TRENDY SALES CORPORATION and TRENDY UNLIMITED TRADING CORPORATION have not been issued a secondary license by this Commission. Hence, those who act as salesmen, brokers, dealers or agents or claim to act as such for MAXI TRENDY SALES CORPORATION and TRENDY UNLIMITED TRADING 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. SEC on MAXI TRENDY SALES CORPORATION and TRENDY UNLIMITED TRADING CORPORATION.
11. ECOLIFE BIZ/ISHARED ECOLIFE/ISHARED TECHNOLOGIES ECOLIFE
Remarkably, Ecolife promises membersavailing a package ranging from 1,000.00 up to 10,000.00 that they would earn 60% thereof, i.e., P600.00/P6,000.00 per 7 days/cycles.Investigation disclosed thatmembers of the organization are directed to use and create an account in its website: https://www.isharedtech.com/loginor http://www.tuverr.com/login.
Records of the Commission showed that ECOLIFE BIZ/ISHARED ECOLIFE/ISHARED TECHNOLOGIES ECOLIFEand FRESHECOLIFE WATER REFILLING STATION have not been issued secondary license by this Commission.
Hence, those who act as salesmen, brokers, dealers or agents or claim to act as such for ECOLIFE BIZ/ISHARED ECOLIFE/ISHARED TECHNOLOGIES ECOLIFEand FRESHECOLIFE WATER REFILLING STATION 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.Read more: SEC on ECOLIFE BIZ.
12. ROYALE ONLINE GENERATION (ROG)
Reports from the public show that ROGis the new name of RCASHONLINE, which has been the subject of an Advisory issued by the Commission on 30 June 2020. On the other hand, RCASHONLINE was previously reported to be managed by the same person or group of persons operating the ONLINEBIZand the ELITE ENTREP BLUEPRINT, which have been the subjects of the Advisories issued by the Commission on 23 April 2020 and 27 February 2020, respectively.
ROG is claiming to be registered with the SEC under the business name ROYALE BUSINESS CLUB INTERNATIONAL INC.as shown below:
It appears that the main strategy of the subject entity isto earn from recruitment, which is clearly unsustainable.Even if there are products involved, the schemeof ROGrelies heavily on inviting people for a promise of high monetary rewards that can only be achieved through recruitment of more people to participate in the scheme.Its enticement/advertisement focuses on attracting people to earn huge amount of money rather than introducing the benefits or advantages of the products it offers.
The public is hereby informed that ROYALE ONLINE GENERATION (ROG)isnot 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). SEC on ROG.
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http://www.sec.gov.ph/
Updated. July 29, 2020, StockBytes PH
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