The Securities and Exchange Commission (SEC) is waring the public against dealing with Quadbit Verse and C’preneur Perfume Trading for their unauthorized solicitation of investments.

In separate advisories, the SEC said both Quadbit Verse and C’preneur have been found to be soliciting investments from the public without registration as a corporation or partnership with the SEC and a secondary license or authority to do so, as required under the Securities Regulation Code.

The SEC said Quadbit Verse has been running its own website. It also uses social media and other online tools to solicit investment from the public as an online subscription platform.

It is allegedly engaged in forex trading, cryptocurrency, affiliate marketing, QV Forex Trading Academy and coal mining, “a recruitment-driven model commonly linked to illegal or unauthorized investment activities that are inherently unsustainable and detrimental to the public.”

Meanwhile, the SEC said C’preneur Perfume Trading has been found to be employing a “business model” which offers the public the option to invest between a Mobile Stockist Plan worth ₱100,000 or a Starter Package amounting to ₱2,500.

An investor who availed of the Mobile Stockist Plan is entitled to 40 personal accounts, plus 10 personal accounts, binary commission of between ₱14,000 to ₱17,000, and a 20 percent rebate on every package sold.

Under the Starter Package, each account is entitled to three bottles of perfume worth ₱3,000. According to the three-month projection of C'preneur, those who availed the Starter Package can expect to earn up to ₱3.28 million.

C’preneur also offers “7 Ways to Earn” which include product discount, direct referral/sponsor, binary bonus, national bonus, royalty bonus, executive bonus, and franchising.

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