The Securities and Exchange Commission (SEC) is warning the public against six more entities due to their unauthorized solicitation of investments without the necessary license from the SEC.
In several advisories, the SEC identified these investment schemes as those of Wealth Wise International, CCO Media, ALAO Investment, Pamper Me Salon and Spa, Melon Plus/Primelogix Marketing, and JBF Goldminer International.
The SEC said Wealth Wise International Company or The Wealthwise International Management OPC “entices the public to invest by joining its social media group and registering through its website.”
It offers investment plans to prospective investors for a minimum amount of P5,000 and a maximum amount of P384,000, with a promise of 15 percent return in 15 days, 40 percent in 14 days, and 100 percent in 28 days.
Aside from this, they also offer additional bonuses from referrals.
CCO Media, CCO Media Philippines or Clear Channel Outdoor Asia Corporation “claims to be an advertising company that offers investment products online through its social media platform.”
“Accordingly, a prospective investor only needs to invest in its ‘Original Equity Funds’ for an amount ranging from P200.00 to P1 million for guaranteed daily returns of 3 percent up to 50 percent and watch advertisements for additional income. It also misrepresents itself as an entity related to Clear Channel USA, which the latter denies,” noted the SEC.
ALAO or ALAO Investment Platform “claims to be a crowdfunding investment company based in New York City, New York, U.S.A. It actively entices the public to invest in its projects and be its partner in exchange for allegedly guaranteed and lucrative profits and monetary rewards.”
Pamper Me Salon and Spa offers co-ownership rights and guaranteed earnings to prospective investors who will invest in their alleged business expansion.
“Accordingly, a prospective investor who invests P50,000.00 will earn a guaranteed 10 percent monthly interest, P100,000.00 for 25 percent, and P500,000 or more for 35 percent, subject to a six-month lock-in period,” the SEC said.
Melon Plus or Primelogix Marketing claims to offer tools and systems to prospective affiliates or investors who wish to start an affiliate and dropshipping business.
To become a subscriber or an affiliate, a prospective investor should avail of the minimum package worth P2,990. An affiliate or investor will then earn by recruiting more people who will also subscribe and avail of the package.
JBF Goldminer International or Gold de Luck claims to be a gold mining investment company that offers a guaranteed 10 percent daily profit for a period of 30 days. Accordingly, a prospective investor may invest a minimum amount of P500 up to P500,000.
“Some of these groups' investment schemes or actions resemble a pyramid or Ponzi scheme, where investors earn through recruitment fees instead of the sale of actual products or services, and investors are paid using the contribution of new members,” said the SEC.
The Commission said it remains unwavering in its efforts to stamp out illegal investment-taking activities through financial literacy campaigns and advisories to the public.