SEC warns public vs 2 firms

The Securities and Exchange Commission (SEC) has warned the public against dealing with Robinson Company and America Mall-PH due to their unauthorized solicitation of investments without the necessary license from the commission.

The SEC said both entities entice the public to put their money in their investment schemes known as “tasking and recharging.”

The scheme, according to the commission, involves the offering of online jobs to the public by performing certain tasks with the promise of receiving monetary rewards or commissions.

The investor will be given another task to perform once a certain task is completed for the same promise of receiving higher commissions.

Additional funding or recharging from the victim will then be required to withdraw their earnings.

According to the commission, the tasking and recharging scheme also indicates a possible pyramid or Ponzi scheme, where investors earn through recruitment fees instead of the sale of actual products or services, and investors are paid using the contribution of new members.

To make it appear that they are legitimate, the SEC said the two entities are using a fake certificate of incorporation.

Given these information on the two entities, the SEC advised the public to exercise caution in dealing with any individual or group of persons soliciting investments for and on behalf of Robinson Company and America Mall-PH.

“The public is further advised not to invest or to stop investing in the investment scheme being offered by the subject entities or its representatives,” it said.