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Manila Bulletin devider Business devider The Stock Market devider SEC warns vs. scammers posing as Aurora Securities, lending firms

SEC warns vs. scammers posing as Aurora Securities, lending firms

Published May 11, 2026 12:00 am

The Securities and Exchange Commission (SEC) has issued four advisories warning the public against Xelora for illegally soliciting investments, as well as against individuals posing as representatives of Aurora Securities Inc., Value Quest Finance Corp., and Glimms Credit Inc. to conduct unauthorized financing and lending activities.

The commission warned the public against individuals or groups recruiting investors for Xelora, noting that the firm is neither registered as a corporation nor as a partnership with the SEC and therefore lacks the secondary license required to offer, sell, or distribute securities.

The SEC also flagged individuals posing as representatives of Aurora Securities and fraudulently using the company’s name, logo, and the identities of its personnel to solicit investments.

Aurora Securities reported to the commission that unidentified individuals had been using the company’s name, letterhead, logo, and personnel identities on social media platforms, including messaging applications WhatsApp and Viber, to mislead the public into believing that the investment scheme was legitimate.

Through online messaging applications, these individuals allegedly send deceptive letters claiming that recipients maintain an investment portfolio with the company and must first settle tax obligations before withdrawing funds.

The SEC said the scheme resembles an advance-fee scam, a form of fraud in which victims are required to make a small upfront payment before they can supposedly receive a much larger sum of money.

Upon payment, scammers either ask victims to pay additional fees or disappear entirely.

The SEC also warned against platforms and accounts engaged in the unauthorized use of the name of Value Quest Finance to conduct online lending activities.

Based on initial information received, the SEC said one of the reported platforms misrepresenting itself as affiliated with or authorized by Value Quest Finance is a Facebook page operating under the name Kabayan Loan Express.

Similarly, the commission issued an advisory against individuals or groups illegally using the name, identity, and registration details of Glimms Credit to conduct unauthorized lending operations.

The entities allegedly operate the website https://www.glimmscreditincorporation.com/ and use social media to advertise loan offers.

The groups typically redirect potential borrowers to messaging applications and require the payment of advance fees, deposits, or processing charges before releasing supposed loan proceeds.

The legitimate Glimms Credit has “categorically denied” any participation in these online activities and confirmed that it does not operate any website, online lending platform, or social media-based lending service.

The company also said it does not authorize any third party to solicit loans or collect payments on its behalf through online means.

Related Tags

Securities and Exchange Commission Aurora Securities Inc. Xelora
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