The Securities and Exchange Commission is asking the public to stop investing in the scheme being offered by Ground Zero Poultry Agricultural Corporation and its representatives as this has the characteristics of a Ponzi scam.
Based on reports and information gathered by the Commission, individual
The Securities and Exchange Commission (SEC) announced the revocation of the corporate registration of Pigdeals International Holdings Inc. for unauthorized investment taking activities resembling a Ponzi scheme.
The SEC Enforcement and Investor Protection Department (EIPD) issued the order afte
Published February 17, 2021, 5:00 AM
The Securities and Exchange Commission (SEC) has revoked the certificate of incorporation of Chiyuto Creative Wealth Documentation Facilitation Services for operating an unauthorized investment program that resembles a Ponzi scheme.
The SEC Enforcement and Investor Protection Department (EIPD) also imposed penalties totaling P9 million against Chiyuto and its single stockholder Patrocenio Calvez Chiyuto, Jr. for administrative violations of the Securities Regulation Code (SRC).
In addition, Chiyuto was permanently disqualified from being a director of other corporations.
The SEC-EIPD issued the order after finding that Chiyuto has been offering and selling securities to the public through a double-your-money roulette game without the necessary license from the Commission.