The Securities and Exchange Commission (SEC) has issued a cease and desist order, under pain of contempt, against BOSS Network, its directors and officers for offering or selling of securities in the form of investment contracts without the necessary license,
In its advisory against BOSS Network it has named its officers; Rommel Q. Tabaniag, Raquel G. Argote, Ramon C. Tabaniag, Jojie O. Servan and Ailyn Marigh F. Lim. People are warned from dealing with them and their representatives, salesmen, agents and any and all persons claiming and acting for and in their behalf, including BOSS ULTIMATE PROGRAM (BOSS UP) and 101UPPER CLASS CORPORATION.
THE SEC has also barred BOSS Network, BOSS UP and UPPERCLASS and/or their representatives, salesmen and agents from transacting any and all business involving the funds in its depository banks, and transferring, disposing or conveying in any other manner and all assets and properties under their custody.
This is to prevent grave damage and prejudice to all concerned and to ensure the preservation of assets for the benefit of all investors.
The SEC-Davao Extension Office has warned the public in its area of responsibility (Davao Region, Soccsksargen and Maguindanao Province) of the verified presence of BOSS NETWORK, BOSS UP and UPPERCLASS in these localities. PIA