The Securities and Exchange Commission is warning the public against an investment scam that is believed to be happening right now in Marinduque Province. The personalities involved in this moneymaking scam as well as the company offering this questionable investment “opportunity” was not identified by SEC as of this moment.
If you are in Marinduque right now and if someone approached you to entice you to invest your hard earned 150,000 pesos or 300,000 pesos, take precaution as this is most likely a scam which the Securities and Exchange Commission has published a warning against.
This SEC warning was published on their official website last January 16, 2017, and reads:
The Securities and Exchange Commission has received inquiries and information that some individuals, operating in the Province of Marinduque, are offering investment opportunities to the public in the amount of either One Hundred Fifty Thousand Pesos (Php 150,000) or Three Hundred Thousand Pesos (Php 300,000) promising a guaranteed return at a rate of 5% per month for a period of three (3) months. In exchange for every investment, the investor is entitled to receive and enjoy a brand-new car, the type and value of which depends on the amount of investment. However, the said vehicle is not registered in the name of the investor. At the expiration of the 3-month period, investors are entice to either:
- Get the interest, roll-over their investment and retain the car.
- Get the interest, upgrade the investment from 150,000 to 300,000 pesos, and exchange the old car with a new and more valuable one.
- Surrender the car and claim the investment and promised return.
The public is hereby advised to exercise caution in investing their money in this type of scheme which may turn out to be a fraudulent investment scheme, involving the sale of unregistered securities.
SEC further states that “Those who sell or offer investment contracts or securities to the public may be held criminally liable or accordingly sanctioned or penalise in accordance with the Supreme Court decision in the case of SEC vs Oudine Santos (G.R. No. 195542, March 19, 2014).”
If you know someone offering this type of investment in Marinduque or elsewhere in the Philippines, you are encouraged to report it to the SEC Enforcement And Investor Protection Department at telephone number (02) 818 5476.
Check the full content of advisory warning against this Marinduque investments scam.
iSensey Investment Advisory:
Always remember that a firm offering guaranteed return on investment, in this Marinduque investment scam case it’s 5% monthly for 3 months, it is most likely a scam. Remember Aman Futures Trading, this was an investment ponzi scheme in Pagadian City that also offers guaranteed rate of return. Huge sums of money was lost when the scam was exposed and a lot of Filipinos was victimized. Don’t be a victim of financial fraud and scams!
If you are investing in something, you have to ask the company where they will put your money so that it will grow or what products are they going to sell so that the company can make profits for themselves and for their investors. If the company or the individual offering you the investment opportunity cannot answer your question in the simplest term, it would be best to say no to the investment offer or at least dig deeper on the type of business operation the company or individual is engage in.
Wag masilaw sa offer na kotse, because in the first place the car is not under your name, wala kang habol pag nagkataon.
If you want to know other red flags to watch out for about fraudulent schemes, check out the investment scam checklist made by the Securities and Exchange Commission.
Go only for legitimate investment products offered by SEC recognized and accredited financial institutions.
If you are from Marinduque or know someone from this place, Isensey team hopes that you will share this post, you could be saving someone from a possible financial disaster.
Invest Wisely!