
THE firm recently exposed for its alleged investment-taking activities is not registered with the Securities and Exchange Commission (SEC).
The SEC-Cebu Extension Office (SEC-Cebeo) released a statement warning the public against BMJ Data Processing Services, an alleged scam hub located in Barangay Kasambagan, Cebu City.
“The SEC-Cebeo clarified that BMJ Data Processing Services is not registered with the Commission and therefore lacks the authority to solicit investments from the public, as required under Section 8 of the Securities Regulation Code (SRC),” reads a portion of the statement.
“While the firm is registered with the Department of Trade and Industry (DTI) under BNN/Cert. No. 1839654, with Mr. Antonio Seno Jacalan Jr. listed as the registered owner, such registration does not authorize it to offer or solicit investments,” the statement added.
A hacker, known by the YouTube channel “mrwn,” exposed the alleged investment-taking activities of individuals identified as call center agents of BMJ Data Processing Services. This viral exposé prompted authorities to investigate the firm.
According to SEC-Cebeo, the company operates from The Gallery in Barangay Kasambagan, Cebu City, and reportedly changes its office location frequently to evade detection.
Authorities, led by the Business Permit and Licensing Office, temporarily closed BMJ Data Processing Services on May 20.
SEC-Cebeo said individuals presented themselves as financial representatives of “Virtual Wealth Exchange.” According to the video uploaded by mrwn, the scammers used “Virtual Wealth Exchange,” a platform that reportedly targets nations such as Canada, the United Kingdom and other European countries.
Based on the video, Virtual Wealth Exchange is described as an investing platform — a digital service enabling individuals to buy, sell and manage diverse financial assets online. Mrwn described Virtual Wealth Exchange as a “fake platform.”
Victims were reportedly lured with promises of quick profits from Bitcoin trading through a system called “Quantum AI.” They were persuaded to invest at least $250, with agents guaranteeing high returns, free mentorship and fast withdrawals. Agents allegedly used high-pressure sales tactics, emotional manipulation and false claims of licensure, particularly in Africa.
The Commission reiterated that because BMJ Data Processing Services lacks SEC registration, it is not authorized to solicit investments from the public, a requirement under Section 8 of the SRC.
Meanwhile, SEC-Cebeo advises the public to be cautious of “boiler room” operations, which are fraudulent investment schemes often run from temporary offices.
“The SEC-Cebeo further warns the public to remain vigilant against ‘boiler room’ operations — fraudulent investment schemes that often operate from temporary call centers or business spaces. These operations typically rely on aggressive cold-calling, false credentials and misleading promises to solicit funds from unwitting investors,” it said. / CDF