SEC-Davao warns vs investing in KAPA-linked MERâS Business CenterÂ
May 9, 2021 | 7:52 pm
SEC PHOTO RELEASE
THE SECURITIES and Exchange Commissionâs (SEC) Davao office has issued a public warning against putting money into or acting as coordinator for MERâS Business Center, which does not have a permit for investment operations.
In an advisory issued over the weekend, the agency said MERâS is not registered as a corporation or partnership, much less holds a license to sell securities.
âAn investment scheme is illegal when entities or individuals are taking in investments from the public without a secondary license or license to sell securities from the Commission,â it said.
BusinessWorld
May 10, 2021 | 12:05 am
Keren Concepcion G. Valmonte
THE Securities and Exchange Commission (SEC) has flagged five entities in the first week of May for offering unlicensed investment programs to the public.
Hedge Trading, Coco-J Funds Corp., and Coco-J Funds Digital Marketing Services are all not registered with the commission either as a corporation or as a partnership. The three entities also do not have licenses to sell securities or collect investments.
Jonas Lapada-led Hedge Trading promises a 30% return in 15 days for every P500 minimum investment. The scheme also gives a direct referral fee of 10%, a pairing bonus, and a “unilevel” bonus.