SEC Issued another set of advisories against several entities soliciting investments from the public

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The Securities and Exchange Commission (SEC) has issued another set of advisories against several entities soliciting investments from the public without the necessary licenses. For the complete list of advisories, you may visit https://www.sec.gov.ph/investors-education-and-information/advisories/

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The SEC Davao Extension Office has verified the existence of SHARELINK ADS AND CRYPTOTRADING and CASHDROP within our AOR (Davao Region, Soccksargen, and Maguindanao Province).

We are reminding the public to exercise caution when dealing with individuals or groups soliciting investments for and on their behalf:

1. SHARELINK ADS AND CRYPTOTRADING

2. CASHDROP

3. COINMAX.PH

4. LOKALPLATE

5. PRESIDENT: RODRIGO DUTERTE CHARITY FOUNDATION

SHARELINK ADS AND CRYPTOTRADING, headed by a certain Cedric V. Suarez, is purportedly engaged in digital marketing and cryptocurrency trading, is offering investments to the public where a member must invest Php1,500.00 per account. Accordingly, there are five (5) ways to earn: 1. Sharelink Ads Bonus where a member-investor shall earn a total of Php1,500.00 or Php150.00 daily by just sharing the company’s link to his/her Facebook account for 10 days or 100% return in 10 days; 2. Direct Referral Bonus where a member-investor shall earn Php150.00 for every direct recruit; 3. Pairing Income where a member-investor shall earn Php200.00 for every pairing under his/her structure; 4. Leveling Bonus where a member-investor shall earn Php200.00 per level on his/her structure regardless whether the downline is a direct recruit or not; and 5. Cyrpto Trading Bonus where a member-investor shall earn Php50.00 per day for a total of 60 days or a total of Php3,000.00 or 200% return in 60 days.

CASHDROP entices the public to invest online or through the internet by availing either of the following packages and shall be entitled to “double your money or 200% return (PAYOUT) in 15 days”

COINMAX.PH, on the other hand, is offering investments to the public by availing either any of the following accounts: Basic Account with 90% return for 15-25 days, and Gold and Premium Account with 150% return for 40 or 70 days, respectively. Accordingly, a member shall only need to invest, wait, and earn without having to do anything.

LOKALPLATE is offering investments to the public under the guise of franchising where a “FRANCHISEE” invests Php12,888.00 to earn Php40,000.00 to Php80,000.00 per month. Further, a franchisee only needs to share a link, which, when clicked by anyone who wants to order from the affiliated food service provider of Lokal plate, the franchisee earns 15% to 20% of the purchase price of the ordered food. A franchisee able to recruit another prospect also earns a commission of Php3,00.00 for every direct referral.

Considering that the scheme involves the sale of securities to the public in the form of investment contracts, the Securities Regulation Code (SRC) requires that these securities be duly registered and that the concerned corporation and/or its agents have appropriate registration and/or license to sell such securities to the public pursuant to Section 8 and 28 of the SRC.

Moreover, the Commission reiterates its 2 April 2020 Advisory that the PRESIDENT: RODRIGO DUTERTE CHARITY FOUNDATION is NOT REGISTERED as a Corporation. Further, the Policy and Specialized Supervision Sector of the Bangko Sentral ng Pilipinas has confirmed that the alleged electronic raffle is fake. Despite the Advisory of the Commission on these TEXT SCAMS which was posted in April, these kinds of scams continue to proliferate.

Should you receive any TEXT SCAM, you are advised to report the matter to the National Telecommunications Commission (NTC), the National Bureau of Investigation (NBI), the Bangko Sentral ng Pilipinas (for text scams alleging involvement of the BSP), the Department of Trade and Industry(for text scams alleging involvement of the DTI), or this Commission (for TEXT SCAMS alleging to be with the participation of an entity registered with the Commission)by calling the Enforcement and Investor Protection Department at telephone numbers 8818-6047 or email at epd@sec.gov.p

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