Business

SEC warns public against Royale Online Generation

The Securities and Exchange Commission has issued a public warning against investing in Royale Online Generation, an unregistered entity that promises high monetary rewards to investors.

According to information received by the SEC, ROG is the new name of RCashOnline which was previously reported to be managed by the same persons operating Onlinebiz and Elite Entrep Blue Print, which have been subject of advisories previously issued by the Commission.

ROG’s scheme involves enticing the public to invest through its product packages and promising a huge return of investment including P1 million worth of BPI insurance coverage, health insurance,travel incentives and cash bonuses.

“It appears that the main strategy of the subject entity is to earn from recruitment, which is clearly unsustainable…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,” SEC said.

SEC said ROG is not authorized to solicit investments from the public and is not even registered as a corporation.

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