‘Investment scams sprouting up in Mindanao’ (Sabong News)
Author
Manuel Cayon
Date
JUNE 03 2021
Davao City—At least 6 more investment scams have surfaced in Mindanao, prompting the Securities and Exchange Commission (SEC) to warn the public anew to either refrain from or exercise caution in dealing with individuals or organizations soliciting money for “get rich quick” schemes.
The SEC on Monday said the new investment scams came from the following: G-Harvest Inc/Great Harvest Inc. (GHI); Massdrop Marketing and Franchising OPC or “Massdrop Marketing”; Francis Leo Marcos Family Club Inc.; Llamadista Online Sabong Capital /Llamadista /Llamadista.com; Project 1.8 Financial Progam (Project 1.8); and Premium Business.
The SEC said these companies have been soliciting investments from the public without the necessary licenses. It said the G-Harvest Inc./Great Harvest Inc. (GHI) and the Massdrop Marketing are operating in the Davao Region, Soccsksargen and Maguindanao Province.
GHI is operated by a Vencint O. Canal, who claims to be its chief executive officer, and a certain Shunan Mae Cemene, the company’s corporate secretary. The company promises GHI partners a “return on investment (ROI)” equivalent to 23 percent to 27 percent for a minimum investment of P10,000 per slot for a period of 6 months.
Massdrop Marketing is headed by an Edgar Joseph Tan “EJ TAN”, who claims to be its president, the SEC said. The group ”entices the public to invest online or through the internet to become a member thereof with a minimum investment of P1,000 with a guaranteed monthly return of 20 percent for 90 days plus a return of investment on the third month or a total of 160 percent income in just three months”, the SEC added.
The SEC said the Francis Leo Marcos Family Club Inc. “is falsely claiming to be registered as a corporation with the SEC and is soliciting donations from the public without any prior registration, license and/or accreditation from the Department of Social Welfare and Development (DSWD)”. It named 8 other persons as helping Marcos “plead donations from the public, mostly from overseas Filipino workers, for his supposed humanitarian activities”.
The SEC said the company was not registered with the agency, “hence it cannot act or operate as a corporation. It said the lack of registration, license and/or accreditation from both the commission and the DSWD “make the company dubious and susceptible to financial abuse and misuse”. The Llamadista group also promises a 5-percent payout for 42 days or a 210-percent ROI for a minimum investment of P1,000. This is operated by a Ferdinand Salantes.
Another group, the Project 1.8 Financial Program, purportedly “aims to help the public, particularly government employees, earn additional income and achieve debt clearance. This would be accomplished allegedly through the investor’s registration/membership with UNO, purchase of a package of UNO products, and referral/recruitment of new members”.
“Investors are promised a guaranteed amount of P450,000 on their fifth month of participation upon meeting some conditions set by the group. This is founded and headed by a Kristofer Paul F. Pasag, aka Kyle Falcon and a Maria Delmar A. Fernandez, aka Thalia Fernandez, who claims to be a business partner of Unlimited Network of Opportunities International Corp. (UNO).
Premium Business, known in social media as Premium Biz Ph, is offering its program for just a one-time payment—from P1,000 for associate package to as much as P50,000 for the executive package where a member-investor is only required to do 5 captcha typing job per day and consequently be entitled to a 40-percent income per month. This company is headed by a Ronald de Leon.
“We are reminding the public to exercise caution when dealing with individuals or groups soliciting investments for and on their behalf,” the SEC said. It added that it cannot guarantee the recovery of their money already placed on these schemes.
“Those who act as salesmen, brokers, dealers or agents in selling, convincing or recruiting people to invest in illegal schemes may be prosecuted and held criminally liable, and penalized with a maximum fine of P5 million or a penalty of 21 years of imprisonment or both,” the SEC said.
