The Securities and Exchange Commission (SEC) is warning the public against dealing with a firm posing as the country’s oldest conglomerate Ayala Corporation and two other firms due to their unauthorized solicitation of investments without the necessary license from the SEC.

In an advisory, the SEC identified these groups as Ayala Corporation Group Inc., Ayala Corporation Budgetarian Online Shop, Global Online Ayala Corporation, Bellavita Ayala Corporation, and Ayala Corporation E Commerce.

The SEC said these firms are engaged in a scheme known as “Tasking and Recharging” where the public is invited on purported online jobs by performing a certain task for a promise of receiving monetary rewards or what they so-called commission and once the task is completed, the investor will be given another task to perform for the same promise of receiving commissions which can only be withdrawn upon payment of a so-called “Tax Charge.”

It noted that, “the individuals composing this entity also present copies of fake DTI and SEC Registrations online to entice the public to invest therein.”

The real Ayala Corporation’s Public Affairs Group – External Affairs & Relations Team already reported to the Commission the activities of certain entities which have been using their company’s official logo on social media and other platform to mislead the public that their investment applications are legitimate and their non-involvement to the said activities.

“In the same email, Ayala Corporation informed the Commission of their issued Advisory informing the public of Ayala Corporation’s non-involvement to a certain 'Ayala Investment App' who have been using their company’s official logo on social media channels to promote their illegal investment schemes,” said the SEC.

The SEC noted that, upon verification, the bogus Ayala firms are not registered with the SEC and thus do not have a license or authority to solicit investments or offer securities. They are also not related or affiliated or connected with the real Ayala Group.

The SEC also warned against Double R Aggregates and Double R Trucking and Aggregates OPS as well Innov8Wealth Global.

Double R claims to be involved in the quarrying business and entices the public through its social media platforms to invest in its investment plans, with a 100 percent money-back guarantee.

Accordingly, prospective investors may invest in an amount ranging from P20,000 to P50,000 for a 7.5 percent monthly profit, or P80,000 to 150,000 for a 10.5 percent monthly profit, or P250,000 and above for a 15 percent monthly profit.

This entity is registered with the Commission but has not secured the license to solicit investments.

Meanwhile, Innov8Wealt claims to be engaged in trading cryptocurrency, color games, betting, and AI-prediction bots.

It entices the public to invest in their investment plans for an amount ranging from P100 to P500,000. Accordingly, prospective investors are promised to earn 10.88 percent to 28.56 percent interest weekly depending on their initial investment.

“Some of these groups' investment schemes or actions resemble 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,” according to the SEC.