Monday 22 October
Powered by Ajaxy
Sep 23, 2018 @ 19:58

Investor alert! SEC warns against


The Securities and Exchange Commission has warned the public against investing in which has been soliciting investments without the necessary license.

In an advisory, SEC said the is not registered as a corporation and/or partnership nor authorized to solicit investments from the public.

Investors are required to shell out P2,500 as membership fee which will supposedly qualifies them to fund any business they like – from agribusiness, food franchises, energy, real estate and others.

Target returns can range from five to 50 percent. Payment of the return of investment is done through direct bank bank deposit or fund transfer to BDO-Idea School and BPI-MIchael Caya.

“The public is hereby warned that such investment schemes whether with the use of money or virtual currencies such as bitcoin, etherium, ripple, dash, litecoin, monero, SIBcoin, moon coin and many others are considered as securities subject to the regulatory authority of this Commission,” the SEC said.

“The recruitment of investor members under the guise of sponsoring a person into the system is likewise considered a form of investment solicitation which requires a permit or license from the Commission,” the agency added.

Please follow and like us:

Tags: , ,

Related Stories
ISM Communications Corp. is raising its capitalization to a whopping P75 billion from a meager
The oil refining subsidiary of San Miguel Corp. obtained the Securities and Exchange Commission’s approval
Less than a week after settling fraud charges with the US Securities and Exchange Commission,
Consumer giant San Miguel Food and Beverage Inc. has obtained the Securities and Exchange Commission’s


Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.