Live Breaking News & Updates on Ccording To The Sec Quott He Commission Finds That Wellcons Is Engaged In Unauthorized Sale And Or Offer Of Securities Form Investment Contract Violation Section 8 Regulation Code Src Because It Has No License Carry Out Same

MANILA - The Securities and Exchange Commission (SEC) has ordered Wellcons Unlimited Systems, Inc. to stop offering investment packages to the public without the necessary license from the Commission. In an order dated June 23, the Commission en banc directed Wellcons to immediately cease and desist from engaging in the unlawful/unauthorized solicitation, offer and/or sale of securities until it has filed the requisite registration statement and secured the necessary approval from the SEC. Wellcons, its president Merarie Pailagao, as well as its officers, operators, administrators, promoters, representatives, salesmen, agents, investment team planners, mentors, enablers, influencers, assigns, conduit entities, and subsidiaries have also been ordered to stop their investment solicitation activities, as well as to immediately cease their internet presence related to their unauthorized investment scheme. They have also been prohibited from transacting any business involving funds in Wellc ....

Merarie Pailagao , Exchange Commission , Investor Protection Department , Wellcon Pangkabuhayan Program , Wellcons Unlimited Systems Inc , Wellcons Unlimited Systems , Pangkabuhayan Program , Securities Regulation Code , Republic Act , Manila The Securities And Exchange Commission Sec Has Ordered Wellcons Unlimited Systems , Nc To Stop Offering Investment Packages The Public Without Necessary License From Commission In An Order Dated June 23 , He Commission En Banc Directed Wellcons To Immediately Cease And Desist From Engaging In The Unlawful Unauthorized Solicitation , Ffer And Or Sale Of Securities Until It Has Filed The Requisite Registration Statement Secured Necessary Approval From Sec Wellcons , Ts President Merarie Pailagao , S Well As Its Officers , Nvestment Team Planners , Onduit Entities , Nd Subsidiaries Have Also Been Ordered To Stop Their Investment Solicitation Activities , S Well As To Immediately Cease Their Internet Presence Related Unauthorized Investment Scheme They Have Also Been Prohibited From Transacting Any Business Involving Funds In Wellcons 39 Depository Banks , Nd From Transferring , R Conveying Any Related Assets To Ensure The Preservation Of Investors Sec Issued Cease And Desist Order After Its Enforcement Investor Protection Department Found That Wellcons Has Been Offering Investment Packages Worth Php2 , 500 To Php13 , 890 Undera So Called Binary System , Ith Guaranteed Returns Of Up To Php9 , 000 To Php32 , 000 Per Day Members Who Avail Of Investment Packages Under The Binary System Can Further Earn Through Wellcon 39s Pangkabuhayan Program ,