Warning raised anew versus illegal investments schemes
THE SECURITIES and Exchange Commission (SEC) has issued another warning to the public about some entities that were illegally soliciting investments amid the coronavirus disease 2019 (COVID-19) pandemic.
In its advisory released last weekend, the agency identified OnlineBiz/OnlineBiz ECommerce, Accelerare Car Main Ph/Accelerare Ph/ Accelerare/Accelerare Car Trading/Accelerare Forex Trading, and Legit Payout/ Legit Pay Out as those that did not have the licenses to solicit investments.
The agency said the entities are “not authorized to solicit investments from the public since they have not secured prior registration and/or license from the Commission as prescribed under Sections 8 and 28 of the Securities Regulation Code.”
The OnlineBiz operates by offering people a business opportunity and investment return of P5,000 to P50,000 weekly with insurance plan and free travels by investing a minimum of P19,000.
The report said its investment scheme is similar to Elite Entrep Blue Print and based on its social media page, the entity is also operating under the name Elite Entrep Blue Print.
On the other hand, Accelerare looks for potential investors, or as they call, “Certified Accelerare Partners” who are promised to receive passive income bonuses and can earn exclusive commissions (for partner referral and car sales). It also has two lines of businesses namely, car trading and forex trading.
In car trading, members are asked to invest a minimum of P1,000 per slot with a return of 20% after 28
days or 150% after 90 days. They also earn up to 5% in rolling commission and 5% commission for being a car agent. There will also be a 2% admin fee to prevent payout delays.
In foreign exchange trading, members are asked to invest a minimum of P10,000 per slot with a promised return of 30% in a certain timeframe. There is no definite timeframe and the interest will be depending on the trade.
Investors are provided with their own dashboard to give access to an online account so that they can monitor the growth of their investment. Investors with an invested amount of P50,000 and above are the only ones who will be provided a contract.
Lastly, Legit Payout entices investors by promising a 60% return after investing P1,000 per slot. They also allow multiple purchasing of slots and are being operated in limited slots per batch.
It is also noted that Harlou Angelo Crampatanta Bolima, the founder of Accelerare Car Main Ph/ Accelerare Ph/Accelerare/ Accelerare Car Trading/Accelerare Forex Trading and Wilme Joe Vergara a.k.a. Joe de Vergara of Legit Payout/ Legit Pay Out are not associated with any corporation or partnership registered with the Commission and neither is he allowed by the Commission to engage in the said investment taking activities.
People involved in those entities such as salesmen, brokers, dealers, or agents in selling or enticing people to invest may be held criminally liable under Section 28 of the SRC and penalized with a maximum of P5,000,000 and/ or 21 years imprisonment, according to the Section 73 of the SRC.