SEC cautions public renew investment schemes

CEBU, Philippines — The Securities and Exchange Commission (SEC) has sent out a warning to the public against unscrupulous groups enticing investors with sky-high returns that seems to be too good to be true.

In two advisories, dated June 26, 2019, SEC advised the public to be cautious against   Requiza Poultry and Unlishop E-Commerce Advertising System.

Requiza poultry

Requiza Poultry, which claims to be registered with the Department of Trade and Industry under the business name Requiza Agricultura Products Trading, is reportedly luring individuals to invest in the entity with a promise of 40% to 50% return of investments within 60 days.

In its website, Requiza Poultry announced that it is engaged in the poultry business and

promises investors with a 50% guaranteed return of their investments.

For instance, if an investor purchases 35 chicks for P3,500. He will get an ROI of P5,250 after 60 days.

The corporate regulator is informing the public that Requiza Poultry is not registered with SEC either as a corporation or a partnership, and that it is not authorized to solicit investments from the public as it did not secure prior registration and/or license to solicit investment from the Commission.

Unlishop

The SEC is also warning the public against Unlishop E-Commerce Advertising System, who is also said to be luring investors online or through social media platforms.

Although, the said company has a SEC registration as a partnership headed by Hector John Hemady Dollero and Ryan Guerrero Hemady, it is registered for the sole purpose “to engage in the business of buying, selling, advertising of products on online services or over the Internet.”

 The said partnership however, is not authorized to solicit investments from the

public as it has not secured a license to solicit investments.

Based on facts gathered by SEC, Unlishop is allegedly encouraging the public to

invest by selling online account codes and recruiting other individuals to join the investment scheme.

SEC warns the public that such investment schemes are considered as securities

subject to the regulatory authority of the commission. Moreover, the recruitment of investor members under the guise of sponsoring a person into the system or platform is likewise considered a form of investment solicitation or a sale of securities.

The Commission also warned that those who act as salesmen, brokers, dealers or agents of these companies may likewise be prosecuted and held criminally liable. (FREEMAN)