SEC warns public vs 24k Times gold Int’l Marketing

The Securities and Exchange Commission (SEC) is warning the public against 24k Timesgold International Marketing, Inc. which is engaged in investment-taking activities.

According to the SEC, Timesgold solicits investments of P10,000 and promises an interest of 26 percent or P2,600 after a period of 15 days.

Timesgold, however, is not authorized to solicit investments from the public as it does not have the necessary permit from the SEC as required under Sec.8 of the Securities Regulation Code.

“Based on its Articles of Incorporation, it was formed only for the purpose of engaging in “marketing services specializing in the conceptualization, packaging and marketing of products in the retail, commercial business and to market products and services related thereto,” the SEC said.

The SEC likewise warned that individuals involved in the company’s investment-taking activities could be held criminally liable or sanctioned in accordance with the rules.

The corporate regulator advised the public to stay away from the company and to take the necessary precautions.

The SEC has been stepping up efforts against companies that engage in investment taking activities but do not have the authority to do so.

Last month, it issued CDOs against three companies believed to be (cease and desist order) engaged in fraudulent investment schemes. These are Success200 International Marketing Corp., Grandtime Automobile Inc. and Goldxtreme Trading Co.

All three companies were found to be guilty of engaging in fraudulent investment activities.