THE Securities and Exchange Commission (SEC) is urging the public to stop investing in the investment scheme being offered by Brix Gamefowl Breeding, Brix Ventures Incorporated, or AB Eugenio Trading.
In its recent advisory, the Commission said that the Brix Gamefowl Breeding is using an SEC registered company named Brix Ventures Incorporated and a DTI registered named AB Eugenio Trading under an Allan Brix Cabral Eugenio in their activity to entice the public of their investment scheme.
The scheme, according to SEC, involves purchasing a minimum of two Texas chicken worth P998 and earning P3,000 after 90 days.
The Commission clarified that despite being an SEC registered corporation under the Corporation of the Philippines, the Brix Ventures Incorporated is "not authorized to offer, solicit, sell or distribute any investment/securities to the public."
The SEC said that a Secondary License from the Commission is required and the securities or investment product should likewise be registered with SEC before they can be offered or sold to the public.
The Commission added that those who act as salesmen, brokers, dealers, or agents of Brix Gamefowl Breeding, Brix Ventures Incorporated, and AB Eugenio Trading in selling or convincing people to invest in the investment scheme being offered including solicitations or recruitment through the internet will be penalized with a maximum fine of P5 million, or a maximum penalty of 21 years of imprisonment, or both.
The public is also urged to contact the Enforcement and Investor Protection Department regarding the operations of the subject entities through its telephone numbers: (02) 818-6337 and (02) 818-6047.