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Manila Bulletin devider Business devider SEC warns against 6 more illegal investment schemes

SEC warns against 6 more illegal investment schemes

Published Feb 6, 2023 03:21 pm

The Securities and Exchange Commission has advised the public against dealing with six more entities due to their unauthorized solicitation of investments without the necessary license from the Commission.

In separate advisories, the SEC discouraged the public from investing with WebMining, Oyala, BKC Trading, Winvest, Mazama, ang Meta Trade.

“These groups have been enticing the public to either register on their website/mobile application or engage in trading with promised lucrative returns on investments,” said the SEC.

It noted that, “Such 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.”

WebMining entices investors through its website and mobile where prospects can choose any of the six types of investment plans worth P500.00. The investors are promosed earnings of P3,750.00 for 120 days, P5,750.00 for 210 days and P10,950.00 for 365 days.

Oyala, which has a logo that looks like that of the Ayala Group’s, claims that it is one of the largest conglomerates in the country with a diversified portfolio of business interest, including investments in retail, education, real estates, banking, telecommunications, water infrastructure, renewable energy, electronics, information technology, automotive, healthcare, management and business process outsourcing.

It offers three investment plans with initial investments from as low as P200 to as high as P777,777 with promised gains from P300 to P2.33 million. Investors can also earn from referrals.

BKC entices investors through its website or by their private invitation. It is offering investments to the public with a minimal amount of P30,000.00 up to P1,000,000.00. Investors may earn 12 percent up to 36 percent rate of return within 3 to 6 months.

Darwin Sarte, head of Winvest allegedly earns profit through Binance Futures trading, promising returns of up to 3.5 percent daily, or up to 50 percent earnings in just 14 days through two types of investments to the public ranging from a minimal amount of P500 up to P100,000 per account. Investors may earn more through Direct Referral Bonus and Unilevel Bonus.

Mazama is both a website and an app engaged in investment taking through the supposed renting of ads machines. The investor may invest from P500 to P1 million and can earn P38.40 to P165,000 daily.

Meta Trade is offering investments to the public with a minimal amount of P500.00 up to P100,000.00. Investors may earn 30 percent after 5 days, 70 percent after 10 days, or 400 percent after 30 days.

The SEC said it remains unwavering in its efforts to stamp out illegal investment-taking activities through financial literacy campaigns and advisories to the public.

Related Tags

Securities and Exchange Commission (SEC) BKC Trading Oyala Mazama Winvest WebMining Meta Trade
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