SEC warns vs new fast-money scheme

Image grabbed from Securities and Exchange Commission Philippines' Facebook

THE Security and Exchange Commission (SEC) warned anew the public on another alleged get-rich-quick scheme called Elite Entrepreneur Blue Print (EEBP), which has been inviting the public particularly teachers, military personnel, police officers, OFWs, and other professionals to invest an amount of P115,000.

SEC issued another advisory Thursday, February 27, after their office received information that individuals or group of persons representing EEBP are enticing the public to invest in their firm.

The firm is enticing the public to invest in their company by promising investors with a weekly income of P5,000 to P50,000 and a one million Bank of the Philippine Island (BPI) insurance coverage.

An official of SEC said several individuals were duped by this group here in Davao City.

“The public is hereby informed that Elite Entrep Blue Print/ Elite Entrepreneur Blue Print/ EEBP is not authorized to solicit investments from the public as this entity did not secure prior registration and/or license to solicit investments from the Commission as prescribed under Section 8 of the Securities Regulation Code (SRC),” the SEC advisory read.

SEC further warned those who act as salesmen, brokers, dealers or agents of EEBP in selling or convincing people to invest in the investment scheme being offered by the said entity including soliciting investments or recruiting investors through the internet may be held criminally liable under Section 28 of the SRC and penalized with a maximum fine of P5 million or imprisonment of 21 years or both pursuant to Section 73 of the SRC.

“The public is hereby advised to stop investing in the investment scheme being offered by the said entity. Furthermore, the names of all those involved will be reported to the Bureau of Internal Revenue (BIR) so that the appropriate penalties and/or taxes be correspondingly assessed,” SEC added.

In January, the Department of Education (DepEd) issued an advisory to teaching and non-teaching personnel to be cautious and not to deal with individuals offering programs considered as “investment scam”.

Other entities include are the Teachers Financial Coaching Program (TFCP); Teachers Financial Freedom Program (TFFP); Elite Teachers Financial Program (ETFP); and Teachers Financial Program (TFP) which are not registered with the SEC nor authorized to solicit investments from the public.

A DepEd official said that teachers are mostly the target of these schemes because of their financial capacity.

Meanwhile, the Davao City Anti-Scam Unit (ASU) have listed 42 investment firms that are illegally transacting in the city. These are Kapa, Rigen Marketing, A21 Marketing, Dreamers, Dreamzion, Diamond Essential Products, Eden Marketing, King Elise Marketing/Network Solutions, Casino Financing, Crowd Royal, Dragon One, Genesis Company, Gold Skin and Health International, JACAMA Sales and Marketing, Jogle Innovative Marketing, LSM Wellness Product Trading, Davao Ponciano Cooperative, Credit Multi-Purpose Cooperative (CPMC), Shoppers Circle, PEDVEL/PEDCO, Global Intergold (Online), ENCO, Ever Arm Marketing, Gambaro Trading & Consultancy, Jogle Innovative Marketing, JY Marketing, LUCKY 9, Majestic Point Marketing, Nermie Health and Beauty Products Trading, Omega Trading, Premier Oil PLC/JMACl, Crowd Funding, Skinline, Snapcash, Sovereign Success Business Company, Tagum Pay, Triple 8 Trading, United Program, Victorious Mortuary & Allied Services, GILDASH Investment, Global Fusion Network, and High Class Trading.

Most of them were already issued a cease and desist order for not complying with the necessary city permits. JCR


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