The Securities and Exchange Commission has advised the public not to invest or to stop investing in any investment scheme being offered by Inochi or Inochi Rewards.
The public is also being urged to exercise caution in dealing with any individual or group of persons soliciting investments for and on behalf of Inochi.
Based on the information received by the SEC, Inochi is offering different product packages that offer attractive returns
To qualify, one must first buy a product package of his or her choice. He or she then shall earn Inochi rewards points on a monthly basis up to 12 months based on the business value of the chosen product package.
The investor will then earn 10 percent on referrals and earn an overriding commission for every repeat purchase of the members in the group up to the 10th level.
According to the SEC, Inochi or Inochi Rewards is not registered either as a corporation or partnership. Therefore, it is not authorized to solicit investments from the public.
The SEC has warned that salesmen, brokers, dealers or agents may be prosecuted and held criminally liable under Sec. 28 of the Securities Regulation Code and penalized with a maximum fine of P5 million or penalty of 21 years of imprisonment or both.