THE Securities and Exchange Commission (SEC) in separate advisories warned the public against the investment-taking activities of six entities that are not registered as a corporation or a partnership.
The commission identified them as PPG Investment Group, Livewell Multi-Ventures, BlackRock, Perfx Solution Corp., Trading Basket, and Flipkart. All are not authorized to solicit investments from the public.
PPG Investment, which also operates as Conamor Shop, was found to be engaging in investment-taking activities including borrowing capital from investors to buy beauty products. These products are said to be sold to consumers with investors profiting from the sales.
PPG Investment is not registered with the commission and operates without the necessary license, the regulator said.
Meanwhile, Livewell Multi-Ventures entices the public to invest in its advertisements, trading, agriculture, manufacturing and logistics operations.
According to the SEC, the entity offers three plans — Tester Plan, Home Starter, and Eagle Plan, at P500, P5,000 and P50,000, respectively. Investors are promised a fixed return income of 3% for 60 days or a total of 180% in two months.
In another advisory, the SEC warned the public against BlackRock, which it found to have been recruiting investors with a promised earning from “crude oil energy.”
BlackRock offers five types of investment plans that cost from P100 to P5,000 for a promised daily income as high as 5.4% and as low as 1.5%.
The entity shares the same name as a multinational investment company.
According to the regulator, the real BlackRock, Inc. believes that what the local entity offers is an active scam.
Separately, the commission found out that Trading Cartel, an entity which the commission previously issued an advisory against, is operating as Perfx Solution and Trading Basket or Trading Philippines.
All three entities, according to the SEC, are under Jeiel Jephone Ofreneo Canlas, who also goes by the name Japhon Canlas.
Meanwhile, Flipkart is said to have been offering an “advance fee” scheme, which is a form of fraud wherein investors are promised a large sum of money in exchange for a small up-front payment.
“If the victim makes the payment, the fraudster either asks for further fees from the victim or they simply disappear after obtaining the amount,” the regulator said.
The SEC told the public not to enter into such arrangements and advised them to report advance fee frauds or scams to the National Bureau of Investigation or the Philippine National Police’s Anti-Cybercrime Group. — Justine Irish D. Tabile