SEC issues advisories against 5 investment firms

DAVAO CITY (MindaNews / 17 Feb) – The Securities and Exchange Commission (SEC) has cautioned investors against five companies that are soliciting investments from the public without licenses in different parts of Mindanao.

The SEC-Davao has confirmed the presence of these “investment” companies within its area of responsibility, particularly Jamsmart in Davao de Oro, Solmax Global Limited and Igniter 100 in Tagum City in Davao Region and Soccsksargen; Royal O Financial Consultancy Services in Davao Region and Soccsksargen, and Bitaccelerate/ / BA/ Bitaccelerator.

The SEC-Davao covers Soccsksargen and Davao Region and the province of Maguindanao in the Bangsamoro Autonomous Region in Muslim Mindanao

“We are reminding the public to exercise caution when dealing with individuals or groups soliciting investments for and on their behalf,” the SEC-Davao office said.

Under the Securities Regulation Code (SRC), securities must be “duly registered and that the concerned corporation and/or its agents have appropriate registration and/or license to sell such securities to the public.”

It said Jamsmart offers investments to the public through a “Franchise Investment Program” that promises investor an annual return of 300%, which allows investor to co-own an outlet by investing as low as P75,000 for an equivalent of 5% shares.

It added that for every 5% shares, there is a monthly 7% interest amounting to P5,250, a P4,750 allocated monthly sales shares, and a P4,750 fixed allocated dividend for a total annual return on investment of P225,000.

The company allegedly gives investors the option to avail of a 100% “Franchising Agreement” amounting to P1,500,000 that allegedly earns investors a monthly interest equivalent to 10% and a monthly percentage earnings equivalent to 15% totaling 300% return on investment annually, according to SEC.

It said Solmax Global Limited and Igniter 100 are based in London, United Kingdom but are soliciting investments from Filipinos through the assistance of their Filipino “Independent Marketing Partners.” Both firms are offering investment packages ranging from £25 to £5,000 with a total guaranteed passive income of 200% accumulated daily at 1% Return of Investment (ROI) for 200 days or at 2% ROI for 100 days in case the investor recruited at least three others to join the said scheme.

Also, the Commission said that Royal O Financial Consultancy Services claims to be a website portal for the “co-ownership program” where funds sourced from the public will be invested in various businesses.

Investor-members may avail of either its “daily” or “monthly” programs with guaranteed earnings of 15% weekly in just 90 days (a total of 201% return on investment) and 60% monthly in just six months (a total of 360% return on investment), respectively, the Commission added.

SEC said that the Bitaccelerate/ / BA/ Bitaccelerator claims to be designed as a “crowdfunding international platform” that runs on cryptocurrency blockchain technology, providing a long-term active and passive income to investors through its crowdfunding referral system. Investors will be asked to download the “telegram” app before they can invest into the platform. (Antonio L. Colina IV / MindaNews)