SEC warns public against investment company

Merely a week after issuing a public advisory against a Lagunabased company, the country’s corporate regulatory watchdog found out another investment scam that started in Metro Manila and now spreading across other parts of the Philippines and other countries.

The Securities and Exchange Commission (SEC) has recently received reports that Success200 International Marketing Corporation, is engaged in investmenttaking activities where one is enticed to invest at least R1,800 to R36,000 each with a promise return of R10,000 up to R200,000, upon payout exit.

SEC said that the company is based in Metro Manila but it has been reportedly operating in different locations in the Philippines too as well as other countries.

“Success200 is not authorized to solicit investments from the public as it did not secure prior registration under Section 8.1 of the Securities and Regulation Code [SRC],” the Commission noted.

Under Section 8.1 of the SRC, Securities shall not be sold or offered for sale or distribution within the Philippines, without a registration statement duly filed with and approved by the Commission.

“In view thereof, the public is hereby advised to exercise self-restraint from investing their money into such investment scheme and to take the necessary precautions in dealing with the above entity,” SEC further said.

In the company’s website, Success200 is claiming that it is “not an investment company; we do not sell securities or any guarantees”.

“Success200 International Corp. is a 100-percent Filipino-owned legitimate distribution and manufacturing company,” it said.

“Earnings or commissions are paid base on the production of sales and distribution of products through our unique compensation plan. There is no guaranteed income only the opportunity to earn through the SUCCESS200 unique compensation plan,” it added.

Merely a week ago, a growing investment scam from Laguna also caught the attention of the SEC, prompting the agency to issue an urgent advisory against the company behind the scheme.

This is the third investment scam the SEC had caught over the last two months.

An advisory issued by the country’s corporate regulatory watchdog showed that Freedom Life Advanced Global Prosperitiy Marketing Inc., a company presenting itself as Freedom Life Advanced Global Prosperitiy Marketing Inc., is not allowed to solicit money from the public, yet, it is now out victimizing people using its own crafted investment scheme.

SEC said the company is engaged in investment-taking activities where a potential investor is enticed to invest in one to 15 slots or stocks. One slot amounts to R1,500 each, with a promised return of R2,200, earning at least R700 in profits.