The Securities and Exchange Commission (SEC) advised the public against investing in four groups which are reportedly engaged in unauthorized solicitation of investments.
It identified in separate advisories posted on its website the four groups as Mono Mall, Pamper Me Salon and Spa, Melon Plus/Primelogix Marketing Inc. and JBF Goldminer International/Gold de Luck.
The SEC said these firms were not authorized to solicit investments from the public as they have not secured prior registration and/or license to sell securities as provided under the Securities Regulation Code (SRC).
It said some of these groups’ investment schemes or actions resembled a pyramid/Ponzi scheme, where investors earn through recruitment fees instead of the sale of actual products/services, and investors are paid using the contribution of new members.
It Mono Mall is posting a fake SEC registration certificate online as a means to entice the public to invest in their business scheme. It claims that it can help merchants increase their product sales and promote their business online by merely following a certain Tiktok user and completing “tasks”.
By completing the said tasks, merchants will be entitled to commissions ranging from 30 percent to 60 percent.
Pamper Me Salon and Spa offers co-ownership rights and guaranteed earnings to prospective investors who will invest in their alleged business expansion.
The SEC said that based on its scheme, a prospective investor who invests P50,000 will earn a guaranteed 10 percent monthly interest, P100,000 for 25 percent and P500,000 or more for 35 percent, subject to a six-month lock-in period.
Melon Plus also entices prospective investors to avail of the minimum package worth P2,990 and they will earn by recruiting more people who will also subscribe and avail of the package, it said.
Meanwhile, JBF Goldminer claims to be a gold mining investment company that offers a guaranteed 10 percent daily profit for a period of 30 days for a minimum investor of P500 to P500,000, the SEC said.