Sat, 19 Jun 2021

SEC warns public vs investment scams

Philippine Information Agency
15 May 2021, 22:38 GMT+10

CAGAYAN DE ORO CITY, May 15 --The Securities and Exchange Commission (SEC)-Cagayan de Oro Extension Office has released 28 advisories against entities dealing with fraudulent activities. In its continuous efforts in investigating possible investment scams, the Commission warns the public not to fall prey to these investment scams.

Since the start of the year 2021, the Commission was able to identify 28 entities already with malicious business transactions found to be soliciting investments from the public without the appropriate certificate of registration to sell securities.

The following are the entities or corporations which were issued with advisories, and public are advised to avoid dealing with the following: Masa Mart Business OPC, iWATCH.ph Corporation, Mers Business Center, Seven Stag International OPC, Royal O Financial Consultancy Services, RGS World Marketing Corp., Bitaccelerate / Bitaccelerateproject.com, Yumboss Corporation, Bitexpress Security and Commodity Contracts Brokerage, Philhelp Administration of Financial Marketing, Solmax Global Limited and Igniter 100, Jamsmart, Royal O Consultancy Services OPC, Tradexpert/Tradexpert Technology Information Services, IX Trade / IXTrade, Align Assets, Wonkacash / Wonka Cash App Financial Consultancy Services, R.L. Aggregates and Diversified Lending Group Inc., Learn and Earn Online, 247 Cryptotrading FX Cryptotrade Online, Investrade Marketing / Investrade Digital Marketing Services, Beyond Generations Digital Marketing Services, Cash FX / Cash FX Group / CFX, Big Dreams International and BDI Product Trading OPC, Doors Opportunity Online (DOO) / Door Opportunity Digital Marketing Services, JP Company Online Shop / JP Company, Hedge Trading, Infinity Payb / Payb Bills Payment and Remittance Center and Coco-J Funds Corp. and Coco-J Funds Digital Marketing Services.

"These scammers will not consider our situation in which [we are coping with the pandemic]. They continue to proliferate at any cost and in all circumstances. That's why, we at the Commission continue to regulate and remind the public to be careful before placing their investments to these various entities who are not authorized to solicit (investments) from the public," Atty. Frederick A. Enopia, Officer-in-Charge of SEC-CDOEO said in a statement.

The public is advised to be careful when being offered with unreasonable high returns of promises in the form of profits. Also, all interested investors should always check for the secondary license to ensure they are not being victimized by these fraudulent activities.

The Commission also encourages the investing public to report to the Enforcement and Investor Protection Department if they have observed some malicious activities such as unauthorized solicitation of investments in their respective areas through this email address: epd@sec.gov.ph. They may also seek assistance from the Extension Office for the formal submission of their complaints. (SEC CDO)

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