NATIONAL Press Release

SEC ADVISORY: Three more groups soliciting investments from the public without necessary licenses

The Securities and Exchange Commission (SEC) has issued another set of advisories against three more groups soliciting investments from the public without the necessary licenses:




IMMEDIATE EDGE claims that it world’s most intelligent cryptocurrency software which can be used to conveniently buy and sell cryptocurrencies. Seemingly, for a minimum investment of Two Hundred Fifty Dollars (USD 250.00), IMMEDIATE EDGE promises to find and complete the best trading deals for its investors on different trading platforms available with a success rate as high as 98.9% per transaction resulting to a of Nine Hundred Fifty Dollars (USD 950) to Two Thousand Two Hundred Dollars (USD 2,200.00) or 380% to 780% increase in profit daily which is certainly “too good to be true”.

ACT MACHINERIES appears to be engaged in lending business. Based on the records of the Commission, ACT MACHINERIES is not registered as a corporation or as a partnership with the SEC. Likewise, it does not have a Certificate of Authority to Operate as a Lending/Financing Company. Hence, said entity has no authority to engage in any kind of lending activities.

CROWDBIT-88 entices the public by recruiting them to become members through its so-called Invest Wait and Earn (IWE) Crowdfunding Bit In Bit Out.

Moreover, CROWDBIT-88 is also NOT REGISTERED either as a crowdfunding intermediary or a funding portal under SEC Memorandum Circular No. 14, Series of 2019 or the Rules and Regulations Governing Crowdfunding

Therefore, those who act as salesmen, brokers, dealers or agents or claim to act as  such of CROWDBIT-88in  selling  or  convincing  people  to  invest  in  the  investment scheme being offered by said entities 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  (Php5,000,000.00)  or  penalty  of Twenty-one (21) years of imprisonment or both pursuant to Section 73 of the SRC.

In addition, the names of all those involved will be reported to the Bureau of Internal Revenue (BIR) so that the appropriate penalties and/or taxes be correspondingly assessed. (SEC Press Release)

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