SEC warns against Royal Manchester solicitations
The Securities and Exchange Commission has issued a warning to the public against Royal Manchester Five Trading Corp. (RMFTC) which was found to have been soliciting investments without the agency’s prior approval.
In a notice, the SEC said it has received complaints that RMFTC is soliciting investments from the public in the form of loans with a promised rate of return.
An investigation conducted by the corporate watchdog, however, showed that the company is no longer operating at the address indicated in its articles of incorporation.
“The public is advised that Royal Manchester Five Trading Corp. is not licensed to solicit investments from the public in accordance with Sec. 8.1 of the Securities Regulation Code. The public should take the necessary precautions before entering into transactions with the company,” the SEC said.
Other firms on the SEC’s watchlist are Gold Barrel Social Club Inc., Gold Barrel Social Club Resort Capital Inc. and their affiliated companies which were found to have engaged in the illegal sale of securities to the public.
Gold Barrel was found to have sold club shares, membership certificates and parcels of land in
The company posted an invitation on its website for potential public investors to participate in their binary system marketing scheme.
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