THE Securities and Exchange Commission (SEC) has issued another set of advisories against several entities soliciting investments from the public without the necessary licenses.
The SEC Davao Extension Office has verified the existence of:
- UP-MASS INNOVATIVE MARKETING CORPORATION/UMIM CORPORATION
- PAWISNGPINOY ONLINE INVESTMENT
- KAIZEN UNLIMITED PHILIPPINES
- OUTRACE “Play to Earn”
- TRUST LEGACY INTERNATIONAL/TRUST LEGACY INTERNATIONAL/ TRUST LEGACY INTERNATIONAL COMMUNITY PH
For the complete list of advisories, you may visit https://www.sec.gov.ph/investors-education-and-information/advisories/
UP-MASS INNOVATIVE MARKETING CORPORATION/UMIM CORPORATION entices the public to invest online or through the internet to become a member thereof with a guaranteed return of 10% every month or 120% per annum with no limit to invest.
Accordingly, a member shall only need to invest, wait, and earn without having to do anything. Further, it has come to the attention of the Commission that purportedly, UP-MASS INNOVATIVE MARKETING CORPORATION/UMIM CORPORATION has acquired MassDrop and MDM Ventures Corporation and those who invested with the two corporations are being offered 3 options under the “transition” program.
CRYPTOSTAKERS/CRYPTO-STAKERS.COM, which is being operated through persons using the pseudonym “MARK JORREL CHAVEZ”, “MARC JEFF HOFILENA”, “IMALYN ESPINOSA”, “LOVELY SHEYMANDANI”, “DANILYN CORPUZ”, “HANILYN ARCE DAQUIOAG”, “CARINA C.”, and “ESMERALDA R.”, is enticing the public to invest with a minimum amount of one thousand pesos (Php1,000.00) with a promise of an eight percent (8%) daily payout for 25 days or one hundred percent (100%) return of investment in 25 days. An investor can also earn thru direct referral of investors.
WALLETPAYS/WalletPays is a mobile application that can be downloaded in Google Play Store. According to its website (https://m.walletpays.app/register), WALLETPAYS/WalletPays “let’s you earn by completing daily task such as data entry, campaigns and video ads. But, first, you should register and verify your account. You will then proceed to complete the presented tasks daily and the amount automatically credited to your account. You will be able to withdraw when your balance reaches the minimum threshold according to Terms and Conditions.”
PAIDTUNES is a mobile application that can be downloaded from Google Play Store. Initially, subscribers need to register through the app or through their website at www.paidtunes.com, choose their desired package, then they can start earning by watching videos and listening to music while rating them.
PAWISNGPINOY ONLINE INVESTMENT is offering a number of investment packages and promos ranging from two thousand pesos (Php2,000.00) to fifty thousand pesos (Php 50,000.00) promising guaranteed lucrative passive returns of 205-267% for five or six days’ term and other bonuses with little or no risk.
KAIZEN UNLIMITED PHILIPPINES
As posted online, KAIZEN is offering investments, allegedly to be traded in cryptocurrencies, where investors need only to invest an amount of at least 10 US$ or equivalent to Php500.00 and shall earn daily profit equivalent to 3.5% daily for a total of 50 day sor for a total earnings of 175% in just a matter of 50 days.
TUNEGAGA/TuneGaga is a mobile application that can be downloaded in Google Play Store. According to the creator of the said mobile application, TUNEGAGA/TuneGaga is a great way for music fans to earn extra income listening to music. It pays its users every week through various payment methods apparently supported in over 180 countries. Allegedly, investors can earn from Php2,055.25 up to Php151,381.35 monthly depending on the subscription plan they availed of. Investors can also earn from referral bonus up to $120or 5%of the subscription amount/plan.
Based on reports and information gathered by the Commission, the people behind BCPAY FINANCIAL TECHNOLOGY, INC. (BCPAYINC.), namely, FREDOLINE “FRED” BRUNO and VICTOR “TROY” DENIA, together with MARCO MENDOZA, ARVANN CARIAGA, JOHNRU CADAG, MARK MARI, and CLYDE SANTOS are now doing business under the name OUTRACE “Play to Earn” and are again soliciting investments in the Philippines without the necessary license and/or authority from the Commission.
Apparently, OUTRACE “Play to Earn” promises desirous earnings for its players and OUTRACE $ORE ($ORE) token holders alike by acquiring its in-game Non Fungible Tokens or NFTs on pre-sale and purchasing $ORE beforehand through Initial Coin Offering (ICO) at a significantly low price on the pretext that both will considerably increase in value once the $ORE is listed on public exchanges.
TRUST LEGACY INTERNATIONAL/TRUST LEGACY INTERNATION/ TRUST LEGACY INTERNATIONAL COMMUNITY PH claims to be an automatic online investment platform engaged in Bitcoin Trading with its so-called “BITCOIN DOUBLER” and “DAILY BITCOIN” program where, depending on the amount of investment ranging from $20 up to $20,000, it guarantees 200% revenue after 35 or 100 days or an amount ranging from $40 up to $40,000.00.
It declares that it is based in Finland and was founded on January 2021. However, investigation disclosed that investors are instructed to deposit their money in an account under UNIONBANK and GCASH of a certain John Paul Atos, a.k.a ”Mentor John” and to register in its www.trustlegacyintl.com which was now changed to https://trustlegacyintl.net/acct/.
We are reminding the public to exercise caution when dealing with individuals or groups soliciting investments for and on their behalf.
PLEASE NOTE THAT THE SEC CANNOT GUARANTEE THE RECOVERY OF YOUR MONEY.
Those who act as salesmen, brokers, dealers or agents in selling, convincing or recruiting people to invest in illegal schemes may be prosecuted and held criminally liable under Section 28 of the Securities Regulation Code (SRC) and penalized with a maximum fine of FIVE MILLION PESOS (P5,000,000.00) or a penalty of TWENTY-ONE (21) YEARS OF IMPRISONMENT or both.
Furthermore, 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.
The Commission also highly encourages our LGUs to double check in approving the permits of these businesses and their owners.
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