SEC warns public on teckph.com
HE Securities and Exchange Commission (SEC) warned the public against a website that is using several known companies to trick potential investors into engaging with them.
In a statement, the commission pointed out that Teck Resources Ltd. and Sunlife Management Co. Inc. is not in any way connected with Teck Mining or to any investment being offered through teckph.com.
“The public is advised not to invest or to stop investing in the investment scheme being offered by teckph.com/Teck Mining and its agents or representatives,” the SEC said.
The agency received information that a group of persons representing themselves as officers or agents of Teck Mining are enticing the public through social media platforms to invest in the mining company via teckph.com.
“In offering the investment, its representatives are making representations that Teck Mining is related to Teck Resources Ltd. of Canada and UK. The Sun Life Management Co. Inc.’s insurance certificate form is also being used to make it appear that investments in Teck Mining through the teckph.com website are insured,” the SEC explained.
Moreover, the company uses a modified website material of the legitimate mining company Teck Resources Ltd. without due authority.
To invest, potential investors are instructed by those behind teckph. com to download its trading application available in Google Play Store and are contacted by individuals acting as representatives or agents through social media messaging platforms, such as Telegram, to introduce the procedures of the investment scheme.
Afterwards, potential investors are offered to invest as low as P100 at a daily interest rate income of not less than 2 percent.
“Based on the commission’s database, teckph.com/Teck Mining is not registered as a corporation or partnership and operates without the necessary license to solicit, accept or take investments from the public nor to issue investment contracts and other forms of securities,” the SEC said.
It added that those who act as salesmen, brokers, dealers or agents of the company in selling or convincing people to invest may be held criminally liable penalized with a maximum fine of P5 million or imprisonment of 21 years or both pursuant to Section 73 of the Securities Regulation Code.