SEC flags 7 entities for unauthorized investment schemes

The Securities and Exchange Commission has warned the public about several illegal investment-taking activities of several groups.

Separate advisories have been issued against Hoton Retail and Services Inc., Raging Business Consultancy Services, Achievers Golden Marketing and Consulting. Achievers Golden Holdings Inc., Crowdbit-88.com, Immediate Edge and ACT Machineries for unauthorized solicitation of investments.

According to the SEC, Immediate Ridge appears to have been created by a certain individual using the pseudonym Edwin James, who is notorious for using fake celebrity endorsements similar to the modus of Bitcoin Revolution.

It claims to be the world’s most intelligent cruptocurrency software which can be used to conveniently buy and sell crypto currencies. For a minimum investment of $250, Immediate Edge investors may potentially earn $2,200.

Owned and operated by Hazel Taguinod Figueroa, Crowdbit recruits its members through its so-called Invest Wait and Earn Crowdfunding Bit In Bit Out where investors can investment for as low as P100 and earn 200% ROI for 15 days lock-in program.

Philhelp, on the other hand, operates P2P funding platform where borrowers and lenders purportedly meet and interact directly. Through its facility, investors/lenders sign up and contribute money to be pooled by PhilHelp to fund these loans and in turn receive returns on their investments. Lenders are promised a guaranteed interest or profit of a total of 180% or 30% monthly of 6 months.

Hoton entices the public to become their business partner by investing a minimum amount of P100,000 up to a maximum of P14 million. Investors are promised a guaranteed return of 1% per month or 12% per annum for 60 months, 40% per annum profit sharing and 100 % return of capital after the lapse of five years.

Raging Business likewise offers a guaranteed return of 1% per day or 30% per month depending on the capital sharedat least 100,000, equivalent to one unit.

Achievers Golden Marketing, on the other hand, offers a cash back guarantee program wherein one may invest a minimum amount of P5,000 to as high as P1 million and promises a return of as much as 1% daily or 30% monthly for a period of 180 days

Source: Peso Economics