Under its scheme, CAREFUND promises investors as much 75% return CAREFUND promises as high as 75% income plus capital in two years and an annual dividend for five years.
According to its website, CAREFUND is an “international venture capital group under the leadership of Gaza who is also a real estate financier in Southeast Asia and CEO/chief investment officer of Sindicato Cristiano Group of Companies.
CAREFUND also claims to be P100 million fund.
Based on information gathered by the SEC, minimum amount of investment is P 20,000 equivalent to one share while the maximum investment is P1,000 equivalent to 50 shares.
The SEC said CAREFUND is not registered as a corporation and is not authorized to offer its investment scheme to the public without a registration statement duly approved by the agency.
“In view thereof, the public is hereby advised to STOP INVESTING in this kind of investment
activity and to take the necessary precautions in dealing with the above-named entity and/or its representatives,” the SEC said.
The SEC also cited the Bayanihan to Heal as One Act, which punishes
those participating in cyber incidents that make use or take advantage of the current crisis situation to prey on the public through scams, phishing, fraudulent emails or other similar acts.
Gaza was arrested by the Malabon City police in April 2018 for allegedly violating the Anti-Bouncing Check Law. Source: Bilyonaryo.com.ph
Source: Peso Economics
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