The Securities and Exchange Commission urged the public to exercise due diligence before investing to avoid falling into a scammer’s trap, after identifying four more more groups engaging in unauthorized investment-taking activities.
The SEC in separate advisories issued on May 7 warned the public against dealing with individuals or groups representing and promoting the Bayanihan Program of Billy Ford Andrada, My Gold Rev/ My Gold Rev Philippines, Friend$hip/ Friend$hip Philippines and World of Captcha (WOC).
The SEC said Bayanihan Program, My Gold Rev, Friend$hip and WOC had not registered securities such as investment contracts nor secured the necessary licenses to solicit and take investments from the public, as required by the Securities Regulation Code.
The SEC advised the public against investing in Bayanihan Program, My Gold Rev, Friend$hip and WOC, which have not even registered as corporations or partnerships with the commission.
Under a modus operandi, Billy Ford Andrada solicits a minimum investment of P2,000 and promises a 50-percent return plus a five percent direct referral bonus.
The SEC earlier identified a certain Billy Ford Delos Santos Andrada as the owner of Billford Trading and Bill Ford VIP Trading Inc., whose investment-solicitation activities in the guise of a piggery business have been the subject of an earlier advisory.
My Gold Rev, meanwhile, offers business plans for $20 to $100,000. Investors may supposedly earn a daily profit of 2percent to 3.5 percent for 80 to 100 days, or a 260-percent to 450-percent return on investment.
Friend$hip, meanwhile, collects a subscription fee of $7.99 or P385. Members receive $1 for every referral in the first to the fifth levels of their network.
Friend$hip claims to be an American company with a business address in New Jersey, USA. The group is headed by Rodnelio “Ron” Chang Capua as president and chief executive officer, according to several Facebook posts.
WOC also solicits investments from the public in the guise of an online business. It offers plans worth P200 to P1,000, where members could supposedly earn P300 to P1,500 by typing CAPTCHA.
In addition, WOC promises bonuses ranging from P20 to P100 for direct referrals and P5 to P25 for indirect referrals up to the fifth level. It offers a program where members can purchase 75 codes and get 10 free codes for P15,000 for the purpose of reselling them.