SEC Cebu warns public anew vs bogus investment companies

CEBU, Philippines — The Securities and Exchange Commission (SEC) Cebu Extension Office has warned the public against unregistered companies offering and collecting investments from the public with promises of earnings and profits that are ‘too good to be true’.

In a Facebook post dated July 10, 2024, SEC Cebu shared the ‘Investor Alerts’ for June 2024 indicating 16 companies that have been soliciting investments without the needed SEC registration and are therefore not authorized by the commission to collect investments from the public.

The unscrupulous companies include: Tradetech Asia, Beef Exfresh (Kambal Pares), BFO Trading, Pink Closet PH Clothing, New World AI, Spotipay, Bass Oil, Ella Recca's Kitchen, Automatrade Robots Trading, Azarcon Ventures, Jet Enterprise, Jump Mining, Jump Mining Trade Platform, Jumpmining International Group, Skyline Crypto and Dry Goods Trading, Metamax Asian Inc./Metamax, Grand Horizon International, and Empressly Skin Care Center Corp.

SEC advised the public not to invest in or to stop investing in the investment schemes offered by these companies, as they lack the necessary licenses to operate.

The regulator encouraged the public to report any illegal activities like this to the Enforcement and Investor Protection Department (EIPD) at contact number 8818-6047 and email address [email protected].