THE Securities and Exchange Commission Davao Extension (SEC-Davao) reported that over 20 illegal investment schemes continue to operate in Davao Region despite the coronavirus disease (Covid-19) pandemic.
SEC-Davao officer-in-charge (OIC) lawyer Katrina Jamilla Ponco-Estares, during an interview on Serbisyo Oro Mismo on Wednesday, May 6, 2020, said the agency has issued advisories regarding the investment schemes.
“Ang advisory namin is warning lang to the public na maging careful sa kayo mag-deal sa...kung unsa man entity na issuhan ng advisory (Advisories serve as a warning to the public telling them to be careful when dealing with some entities),” Ponco-Estares said.
She said SEC-Davao and their head office in Metro Manila have received complaints on the operations of investment schemes in the region.
Ponco-Estares they have a unit based at the head office whose job is to investigate these alleged investment schemes.
One of the things that their team discovered is some of these investment schemes operate as a multi-level marketing company. She said these firms base the commission of their investors on the number of people recruited. While these firms have products, Ponco-Estares pointed out that these are too expensive for the quality of the product and are neither registered with the Food and Drug Administration or the Department of Trade and Industry.
“Kung too good to be true, kanang taas kaayo ug return. Tapos ang ano mo is mag benta lang siya ng product na wala namang basis na sabihin mo kukunan para sa commission mo, yan red flag na po yan siya (If it is too good to be true, the returns are high, and there is no explanation on how you will get your commission, that is aready a red flag),” Ponco-Estares said.
As of May 6, 2020, SEC has issued advisories for:
1. Teachers Financial Coaching Program (TFCP), Teachers Financial Freedom Program (TFFP), Elite Teachers Finance Program (ETFP), and Teachers Financial Program (TFP)
2. Champion International
3. Elite Entrep Blueprint or Elite Entrepreneur Blueprint (EEBP)
4. Big 500 PH
5. “The Program” and “Financial Education and Entrepreneurial Development (FEED) Program”
6. Nextgen Global Alliance Corporation (Nextgen) and Nextgen Organic Farmers Cooperative (NOFACO), which is operated by Reynate C. Lascona, Miralyn A. Yasol, Rene C. Lascona, Arvin M. Evangelista, and Shirly A. Parenas, located at No. 381, Jade St. corner Topaz St., Gem Village, Ma-a, Davao City
7. Narcfunds or Narcsfund
8. Bitrade or Bitrade Bitcoin Traiding LTD. or Bitrade Limited PH
9. Lao Razon Trading and/or Lao Razon Marketing
10. Cryptopeso
11. Cashcow Robot
12. Jocals 688 Beauty and Wellness Products Trading, INC. (JOCALS688) located at Digos City
13. Onlinebiz
14. Crowd1 Asia Pacific INC. (CROWD1)
Advisories were also issued for the Davao City and Digos City offices of
1. RZM
2. RZM The Best to Start
3. Raisedherbs Zion
4. Raisedherbs Zion Davao
5. Raisedherbs Zenith Marketing
6. Raisedherbs Zion Marketing (Team JB)
7. Raisedherbs Zion Marketing (RZM) administrated by Jun Callejo
8. Raisedherbs Zion Marketing (RZM) administrated by Dani Gabriel, et al.
(Klarysse Marie Granada/AdDU intern)