The Securities and Exchange Commission (SEC) has warned the public against so-called online paluwagan schemes that collect money from investors with the promise of high returns within a short period of time.
In an advisory posted to its website, the country’s corporate regulator listed down 30 social media accounts which it described as a Ponzi scheme, or a fraudulent investment operation where old investors are paid off using payments from new investors instead of real cash-generating business activities.
The social media accounts are as follows:
1. Road To Stockmarket/Dream Builders – Rtsm 2;
2. Steady Money Onpal;
3. G-Funds;
4. Team Amazing Grace;
5. Donatos Team – Gig;
6. Team Donatos;
7. Building Bridge;
8. Gbs New Hope;
9. Gbs Trust Traders;
10. Whilmz Team International;
11. Whilmz International Online Paluwagan;
12. Rosca – Money’s Worth Onpal;
13. Warriors Team Onpal;
14. Team Warriors;
15. Xplosion;
16. Red Packet;
17. Elite Savers Club;
18. Share Ko Profit Ko;
19. Sutm & Boj;
20. Real Team Angel International;
21. Original Team Angels;
22. Return Of The Comeback Team Angels Internationals;
23. Cone Weekly Investment;
24. 2do Marketing Services;
25. Power7 M2g;
26. Onpal Adhoc;
27. Swift Earners Guild;
28. Exclusive Circle Of Earners;
29. Old Tbc; and
30. Lover’s Profit Sharing
— Arra B. Francia

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