Yeheey not cleared, scam warnings stays

SEC says

The Securities and Exchange Commission warned the public that online investment firm Yeheey iTraffic Systems Inc. has not been cleared and is still under investigation for unauthorized solicitation of investments.

“Information received and verified by the Commission disclosed that Facebook posts of the Officers, Incorporators, Board of Directors, and other members and employees of Yeheey, made it appear the Yeheey was already ‘cleared’ by the Commission after voluntarily appearing at the Enforcement and Investor Protection Department to ‘clear/disprove’ the SEC Advisory issued against Yeheey,” the SEC said.

The SEC said the pictures posted only showed the firm’s officers and employees posing with the SEC flag and logo at the PICC lobby as well as taking a selfie at the function room where conference with EIPD was conducted.

It stressed that, “the mere appearance at the SEC Office is not equivalent to the lifting of the Advisory issued against YEHEEY.”

“Finding no sufficient justification at this point to lift the Advisory against Yeheey, the public is hereby advised that said Advisory REMAINS VALID AND STILL IN EFFECT,” said the SEC.

The SEC said the appearance of Yeheey’s officers and employees the EIPD is merely in the nature of a clarificatory conference where Yeheey stated the company’s position on the matter.

“To set the record straight, this Commission reiterates its official Advisory, that while YEHEEY is registered with this Commission as a corporation, however, it is NOT authorized to solicit investments from the public as it has not secured the necessary license or permit from the Commission as required under Sections 8 and 12 of the Securities Regulation Code (SRC),” said the SEC.