The Securities and Exchange Commission (SEC) has issued another set of advisories against several entities soliciting investments from the public without the necessary licenses:
1. Global Finance Technology/Global Finance Technologies (GFT)
2. Fast Swap Trading Solutions
3. 3X1 Marketing Services/Leovic 3×1 Wellness and Beauty Center
4. MDM Ventures Corporation
5. IQ Option
6. Ching Empiretans/Ching Empire, E-ambag and Geever
7. Petromobil Corporation
8. Togachat Academy Philippines, Inc./Eostre Berhad
9. Reposco/Reposco Trading Ltd. /Reposco.IO
10. Xian Coin (“XNC”)
11. Let’s Raise Money – Jhen’s Credit Collection Services
12. Xum Token, Xumcoin, UmcUSDTbot (now, XUM/USDT/BOT), Xum Chain, Xumex (World Crypto Asset Exchanger), XUM Exchange and XUM Exchange Ltd.
13. Cloud Network/Cloud Network Marketing/ www.cloudnetworkmarketing.com
14. Lendvest International (“LENDVEST”)
15. Earn Cash Quarentine Lending Consultancy Services (“EARN CASH”)
Global Finance Technology/Global Finance Technologies (GFT), Fast Swap Trading Services/Leovic 3×1 Wellness and BeautyCenter, MDM Ventures Corporation, IQ Option, and Ching Empiratans/Ching Empire, E-ambag and Geever have operations within SEC-Davao’s Area of Responsibility (Davao Region, Soccsksargen and Maguindanao Province).
For the complete list of advisories, you may visit https://www.sec.gov.ph/investors-education-and-information/advisories/
Gobal Finance Technology/Global Finance Technologies (GFT) owned and operated by Cipriano S. Bayadog III is enticing the public to invest their money for a supposed investment in Forex thru a so-called “Foreign Exchange Management Agreement” where Cipriano S. Bayadog III, acting like a Fund Manager, will allegedly invest the money in Forex and promising investors a quarterly returns of (20% 1st quarter), (30% 2nd quarter), (35% 3rd quarter) and (50% 4th quarter).
Fast Swap Trading Solutions headed by Jhomarie Cruz Reyes entices the public to invest a minimum of One Hundred Pesos (Php100.00) and promises to receive a return of their investment (principal) plus 50% income in just 15 days.
3×1 Marketing Services/Leovic 3×1 Wellness and BeautyCenter, owned and operated by Leovic Nachor Montemayor, is enticing the public to invest their monies in exchange for huge profits by posting an attractive “complan” with a guarantee of 210% return in 35 days.
Based on the information gathered by the Commission, the investment-activities of Massdrop Marketing and Franchising OPC headed by Edgar Joseph Tan, a.k.a. Ejj Tan is being continued under the name of MDM Ventures corporation with Renato A. Sismundo, Jr., Eduardo B. Mallari, Jr., and Roel B. Duya as its supposed incorporators/directors/stockholders. MDM Ventures Corporation entices the public to invest online or through the internet to become a member thereof with a minimum investment similar to Massdrop of Php1,000.00 with a 20% return every month for 3 months and on the 3rdmonth the member receives his P1,000 investments plus the 20% profit or a total of 160% in 3 months.
Ching Empiretans/Ching Empire, E-ambag and Geever, being run and operated by one Analie Tuyor, a.k.a. Ericah Cassandrah Lee Ching, operates a Ponzi Scheme where the ‘income’ given to the initial investors are taken from the subsequent investors.
IQ Option LCC or simply IQ Option from St. Vincent and the Grenadines in the Caribbean claims that it is legally represented in the Philippines and allows Filipino users to earn money following local laws, thus, offering enticing leverages ranging from 1:20 to 1:1000 which appears to be “too good to be true.”
Petromobil corporation s enticing the public to invest in the said entity by offering would-be investors a Co-Ownership Program for a minimum capital of Php 400,000.00 for a promise of receiving a conservative profit amounting to Php100,000.00 within a period of 3 months and a chance to co-own 17 gas stations which the company are planning to build.
Flint/Flint Ph/Flint Philippines/Flint Technology Corp., which is being operated by JANANDRE M. MERCADO, bills itself as the first, tech-enabled low-cost Philippine Real Estate Crowdfunding Platform powered by SeedIn Technology, allegedly South East Asia’s largest business financing platform. Through Flint, investors are given an opportunity to buy an investment share in a pre-funded property or funded with first position financing. FLINT offers investments as low as Php1,000.00 with a guaranteed 12% return per annum.
Togachat Academy Philippines, Inc., still continues to operate under a new company named Eostre Berhad despite the issuance by the Commission of an Advisory, Cease and Desist Order and Order of Revocation against it. Togachat/Eostre Berhad is engaged in the indirect selling of Toga Limited shares thru conversion of Eostre Berhad Points into Toga Limited shares. While the distribution is channeled thru conversion, the same still constitutes offering and selling of shares to the public as the essence of the law is to regulate the securities being distributed in the public within the Philippines.
Reposco/Reposco Trading Ltd.,/Reposco.10, which is being operated by Benjamin Mari Limjap, claims that it uses blockchain technology to offer decentralized and democratized investment plans that promise weekly dividends by having it invested in sports arbitrage, forex, and oil options. Benjamin Mari Limjap is collecting investments from investors with a promise of twenty percent (20%) return of investment in a ninety (90) day period maturity.
Xian Coin or XNC, headed by Christian Albert Gaza (“Xian Gaza”), claims to be a centralized digital currency powered by the Etherium Blockchain that is exclusively traded by its coin holders. Holders of XNC are promised that they will enjoy a high range of price stability and appreciation of value due to the fact that it is taking advantage of a single, centralized supply chain.
Jhen’s Credit Collection Services, operated by Jennier D. Pingad, is inviting the public to invest a minimum amount of Php2,000.00 with a promise of receiving 25% interest within 7 days.
Xum Token, Xumcoin, UmcUSDTbot (now, XUM/USDT/BOT), Xum Chain, Xumex (World Crypto Asset Exchanger), Xum Exchanger and Xum Exchange Ltd. are enticing the public to invest in a digital currency called “United Masa Coin” which is now called Xum. Xum token and Xum coin are being offered by TBCMMP Masa Mart Inc., Masa Mart Business CenterOPC, MasaMart Business Center and Masa Mart Enterprise, OPC. Agents and promoters of Xum token and Xum Coin represent that they are currently worth Php 5.00 each with a promise of an increase in value up to Php 50 to 70.00 by next year. Proponents also affirm that “staking” Xum token or Xum Coin generates six (6%) or fifteen (15%) percent reward, respectively.
Coud Network/Cloud Network Marketing/www.cloudnetworkmarketing.com is enticing the public to invest in the said entity with a promise of a Five Percent (5%) daily payout for 44 days or Two Hundred Twenty Percent (220%) return of investment in 44 days. An investor can also earn through direct referral of investors.
Lendvest entices the public to invest by offering investment packages from Php1000.00 up to Php1,000,000.00 with a return of up to Php23,298,090.00 for one (1) year.
Earn Cash Quarantine Lending Consultancy Services (“EARN CASH”), headed by John Mitchell Mapaye Alcantara, is offering investments to the public with a minimum amount worth Php2,000and promises earnings of 40%, 50%, 100% or 300% of their investment in 12, 25, 30 or 75 days, respectively.
We are reminding the public to exercise caution when dealing with individuals or groups soliciting investments for and on their behalf.
Please note that the SEC cannot guarantee the recovery of your money.
Those who act as salesmen, brokers, dealers or agents in selling, convincing or recuiting people to invest in illegal schemes may be prosecuted and held criminally liable under Section 28 of the Securities Regulation Code (SRC) and penalized with a maximum fine of Five million pesos (P5,000,000.00) or a penalty of twenty-one (21) years o imprisonment or both.
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.
The Commission also highly encourages our LGUs to double check in approving the permits of these businesses and their owners.
We hope you can help us warn the investing public. Thank you and more power.
