CAGAYAN DE ORO CITY – The Securities and Exchange Commission (SEC) here has warned the public of the proliferation of at least 28 groups and individuals engaged in fraudulent investment schemes.
“In its continuous efforts in investigating possible investment scams, the Commission warns the public to be careful in dealing their investments,” lawyer Frederick Enopia, officer in charge of SEC-Cagayan de Oro (CDO) extension office, said in a statement released Friday.
Since the start of the year, the SEC said it managed to identify 28 entities found to be soliciting investments from the public without the appropriate certificate of registration to sell securities.
The SEC advised the public to be cautious in investing in the following entities – Masa Mart Business OPC, Mers Business Center, Royal O Financial Consultancy Services, Bitaccelerate or Bitaccelerateproject.com, Bitexpress Security and Commodity Contracts Brokerage;
Solmax Global Ltd., Igniter 100, Royal O Consultancy Services OPC, IX Trade or IXTrade, Wonkacash or Wonka Cash App Financial Consultancy Services, Learn and Earn Online, 247 Cryptotrading, FX Cryptotrade Online, Iwatch.PH Corp., Seven Stag International OPC, RGS World Marketing Corp., Yumboss Corp.;
Philhelp Administration of Financial Marketing, Jamsmart, Tradexpert or Tradexpert Technology Information Services, Align Assets, RL Aggregates and Diversified Lending Group Inc., Investrade Marketing or Investrade Digital Marketing Services, Cash FX or Cash FX Group of CFX, Doors Opportunity Online (DOO) or Door Opportunity Digital Marketing Services, and Hedge Trading.
“These scammers will not consider our situation, which is in a pandemic, at all. They continue to proliferate at any cost and in all circumstances,” Enopia said.
He said one of the common red flags in an investment scam is the promise of unreasonably high returns.
“Also, all interested investors should always check for the secondary license to ensure they are not being victimized by these proliferators of fraudulent activities,” the SEC-CDO said. (PNA)
