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Manila Bulletin devider Business devider The Stock Market devider SEC warns public against 'SE Sports' investment scam

SEC warns public against 'SE Sports' investment scam

Published Dec 12, 2025 12:43 pm  |  Updated Dec 12, 2025 01:28 pm
The Securities and Exchange Commission (SEC) is warning the public that SE Sports or Seek Explores Sports Association Inc. is illegally soliciting investments.
The corporate regulator issued an advisory after gathering reports that the entity’s individuals or members are enticing the public, particularly through social media platforms like Facebook, to invest in its online scheme.
SEC records show that while SE Sports/Seek Explores Sports Association Inc. is registered as a nonstock corporation, it lacks the authority to solicit, accept, or take investments from the public, or to issue investment contracts or any other form of securities under the Securities Regulation Code (SRC).
“Based on the information gathered, the online platform sells investment projects ranging from ₱100 to as high as ₱120,000, with the promise of a guaranteed 100 percent return of investment and profit of ₱390 or ₱490.00 per day,” the SEC said.
Members reportedly display “dashboard” proof-of-payouts to build confidence and encourage participation from potential investors.
SE Sports/Seek Explores Sports Association also offers cash referral incentives and a point-based rewards system for successful referrals.
“Members can earn points for each qualified referral, and these points may be redeemed for goods available on their online platform’s points mall,” the SEC noted.
The regulator emphasized that “These referral-based commissions are the primary mode of earning on the platform rather than any legitimate sale of real goods or services.”
The scheme, according to the SEC, “constitutes clear violations of Sections 8, 26 and 28 of the Securities Regulation Code and Section 11 of Republic Act No. 11765, otherwise known as the Financial Products and Services Consumer Protection Act (FCPA).”
The SEC explained that an investment contract—a form of security—exists when there is a placement of money in a common enterprise with a reasonable expectation of profits derived primarily from the efforts of others. This characteristic, it noted, “is prominent in the schemes propagated by SE Sports/Seek Explores Sports Association Inc.”
Under the SRC, the offer and sale of securities must be registered with the SEC, and the issuing entity and its agents must possess the appropriate registration and license.
“Moreover, the schemes employed by SE Sports/Seek Explores Sports Association Inc. bear the characteristics of a Ponzi and Pyramiding scheme, wherein money from new investors is used to pay ‘profits’ to earlier investors,” the SEC added.
The Commission warned that those who act as salesmen, brokers, agents, promoters, recruiters, uplines, or enablers for SE Sports/Seek Explores Sports Association Inc. may face criminal liability. This includes two offenses under Section 28 of the SRC and Section 11 of the FCPA, both punishable by a separate maximum fine of ₱5 million or a penalty of up to 21 years of imprisonment.
Victims or those with information about the entity’s operations are advised to report to the SEC Enforcement and Investor Protection Department (EIPD) at [email protected] or contact the nearest SEC Extension Office.

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