SEC has issued a warning against Dragon One Network Trends Corporation, with business address indicated to be in 29 J. Rizal Street, Davao City. The warning was issued April 7,2016 in Mandaluyong City.
This company has been identified by the Securities and Exchange Commission as having the markings of a potential scam. How come? This is because Dragon One is alleged to take in investments from its members instead of doing just “wholesale of food, beverages, and tobacco”, which is the only business activity they are allowed to do based on their BIR license.
See Dragon One BIR Certificate of Registration below and notice the kind of business they are permitted to operate. It does not mention that this company can engage in money-taking activity for investment. Only “WHOLESALE of food, beverages, and tobacco”.
See Dragon One Network Trends Corporation SEC Certification – They are registered in SEC but this company is NOT ALLOWED TO SOLICIT INVESTMENTS from the public. Dragon One does not have secondary license to engage and to solicit investment.
Here in iSensey, we also searched the database of SEC online, and it it true the company business name is SEC-registered but then again, no secondary license for accepting funds for investment from the public.
POTENTIAL INVESTMENT SCAM
The front of Dragon One is the same as legit networking or MLM companies wherein there are products being offered and sold to members. BUT the alleged bigger picture is that members will come in, join Dragon One by availing a certain package with a promised interest and ROI after a set number of months. Mag-invest kasi may high interest rate kang makukuha.
The supposed amount of investment is as low as P1,800 to P360,000. The higher the package a member avail, the higher the promised interest rate or ‘compensation’. Dragon One allegedly issues postdated checks to investors, these checks represents their capital and profit for encashment after a certain number of weeks / months.
Again, Dragon One Network Trend has a SEC certification but it is NOT for investment taking activities.
“Investors are enticed to join the company because of the profits they will get when all the checks are encashed in 60 days.” – SEC Warning on this company based in Davao
To further quote the SEC WARNING against Dragon One:
Dragon One Network Trends Corporation also known as Dragon One is not authorized to solicit investments from the public as it did not secure the necessary permit from the SEC as required under Section 8 of the Securities Regulation Code (SRC).
SEC further issues warnings to those who will invite or recruit other people to join or invest in this venture or offer investment contracts or securities to the public MAY BE HELD CRIMINALLY LIABLE or accordingly sanctioned or penalized in accordance with the Supreme Court decision in the case of SEC vs Oudine Santos.
The public is advised TO STOP FROM INVESTING in this kind of activity and to take necessary precautions in dealing with DRAGON ONE.
SHARE this info to reach more people in Davao and nearby provinces who may be enticed to join.
If someone has approach you with the Dragon One investment offer, report it to the authorities right away! SEC email is firstname.lastname@example.org, telephone number is (02) 584 7652 (Investigation and Prosecution Department) or (02) 584 6337 (Office of Director).
Protect yourself from potential scam activities. Protect your hard-earned money from unscrupulous individuals.
Makibana! SHARE this post to warn others!!!