DAVAO CITY, April 6- 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 following companies mentioned in the latest advisory are:
1. ALIGN ASSETS
2. YUMBOSS CORPORATION/YUMBOSS PUTOK BATOK/FRESH SMART SUPER STORE, INC.
3. PHILHELP MICRO FINANCING INC., PHILHELP ADMINISTRATION OF FINANCIAL MARKETING, PHILHELP INTERNATIONAL LENDING COMPANY and 3005 LEVELS CORPORATION
4. BITEXPRESS SECURITY AND COMMODITY CONTRACTS BROKERAGE or BITEXPRESS
5. TRADEXPERT/TradeXpertTechnology Information Services
ALIGN ASSETS, claims to be a decentralized trading platform based in the United Kingdom. It allegedly converts investments to digital currency or Bitcoin for trading and provides its investors a guaranteed 3% Return of Investment (ROI) every working day or an extraordinary150% profit in 50 working days in every trading Assets. There is an additional 5% for Direct Referrals under his/her name and 0.5% for Indirect Referrals.
The company does not appear among the registered banks, exchanges or companies engaged in digital assets with the Bangko Sentral ng Pilipinas (BSP).
ALIGN ASSETS is not registered either as a crowdfunding intermediary or funding portal under SEC Memorandum Circular No. 14, Series of 2019 or the Rules and Regulations Governing Crowdfunding.
YUMBOSS CORPORATION/YUMBOSS PUTOK BATOK/FRASH SMART SUPER STORE INC. are offering investments to the public that offers Co-Ownership Program of Yumboss Putok Batok Restaurant and Fresh Smart Grocery wherein a "co-owner" invests Php350,000.00 and Php500,000.00, respectively to earn 16,000 to 20,000 monthly for the next three (3) years and enjoy 25% discount at any of the Putok Batok Restaurants.
PHILHELP MICRO FINANCING INC., PHILHELP ADMINISTRATION OF FINANCIAL MARKETING, PHILHELP INTERNATIONAL LENDING COMPANY and 3005 LEVELS CORPORATION are engaged in unauthorized lending activities and entice the public to invest as a lender with a guaranteed interest of 100% or double-your-money in 45 days.
These entities have no Certificate of Authority to Operate as a Financing or Lending Company and it lacks the requisite Secondary License or to offer or sell securities to the public.
They are 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.
BITEXPRESS SECURITY AND COMMODITY CONTRACTS BROKERAGE or BITEXPRESS is claiming to be a legitimate company specializing in Bitcoin trading and owned by an alleged trader Melvin John Ballesteros Quinto. It offers a Return of Investment to its investors at 150% in just 12 days, 300% for 20 days, and 500% for just 30 days for its Silver, Gold, and Diamond Complans, respectively.
TRADEXPERT/TradeXpertTechnology Information Services headed by Catherin Ramirez Reyes, Rafaelito S. Ele and Mary Ann Reyes entices the public to a minimum investment of of One Thousand Pesos (Php1,000.00) and promises 10% daily interest in 20 days (double your money in 20 days).
The public are reminded to exercise caution when dealing with individuals or groups soliciting investments for and on their behalf.
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 SRC and penalized with a maximum fine of Php5 million or a penalty of 21 years of imprisonment or both pursuant to Section 73 of the Securities Regulation Code.
The names of all those involved will be reported to the Bureau of Internal Revenue (BIR) so that appropriate penalties, taxes be correspondingly assessed.
The SEC is also highly encouraging local government units to double check in approving the permits of these businesses and their owners. (PIA/RG Alama with reports from SEC-Davao)