SEC renews warning vs One Dream

MANILA, Philippines - The Securities and Exchange Commission (SEC) reiterated its warning against One Dream Global Marketing Inc. following reports the pyramiding firm continues to solicit investments from the public.

“In view of the recent reports from the public that One Dream Global Marketing continues to operate in the province of Batangas, the SEC hereby issues this advisory that the above-mentioned corporation, while registered with the Commission is not authorized to solicit investments…,”  the SEC said.

Based on the joint complaint-affidavit filed by victims before the Department of Justice, One Dream enticed the public to invest at least P888 per slot and with a promised gross return of P1,300 per slot after four days. Apart from this, the company offered an incentive of P44 for every direct referral.  

 “This is typical of a Ponzi scheme where there exists no viable business operation and earlier investors, who were promised high returns, are paid from funds collected from new investors. As such, the investment contract cannot be registered with the SEC,” the regulator said.

The SEC, thus, advised the public  to stop investing in One Dream Global and to exercise caution in dealing with the company’s officers and promoters.

The SEC has noted an increase in companies engaged in fraudulent schemes.

It recently issued an advisory against Wealth Builder Advertising which is not registered as a corporation or as a partnership.

“There being no primary license, it is likewise not authorized to solicit investments which require a secondary license as provided under Section 8.1 of the Securities Regulation Code,” the SEC said.

In its advisory, the SEC said Wealth Builder offers investment opportunities in the form of shares priced at P898 per share and one can earn up to 150 percent per share or a total income of P1,347 per share which allegedly could be earned within 30 to 45 days.

It also issued an advisory against F.L.A.G. Prosperity Marketing Inc. which is also known as Freedom Life Advanced Global Prosperity Marketing Inc.

The company, based in Calamba, Laguna, operates in the provinces of Batangas, Bicol, Quezon and Isabela as well as in the National Capital Region.

Data from the SEC showed that One Dream and F.L.A.G. have common incorporators — Arnel Gacer and Jobelle De Guzman.