THE Securities and Exchange Commission (SEC) warned the public against putting money on three entities that are soliciting investments without first securing a license.
In the advisory, the SEC identified the entities as E-Ton Trading, Zydex Trading, and Moneyfescent Global Ventures OPC.
E-Ton Trading allegedly deals with selling frozen goods. The entity also goes by Eton Phil Trading and E-Ton Profit Sharing in social media groups.
Depending on the option taken, investments in E-Ton start at P5,000 to P100,000 and are said to earn P1,250 to P39,062.5 or 20% up to 50% per month. Investors are also promised to earn a “rebate bonus” of 5% for fresh cash-ins.
Meanwhile, Zydex Trading was found to have been offering investment schemes ranging from P500 to P50,000 per account. It offers investors two types of profit plans: the “Beginner Plan,” which is supposed to earn up to 40% in 15 days; and an “Expert Plan,” which is said to earn 90% in 30 days. The entity also promises bonuses for referrals of 1% to 7% as a rebate.
According to the commission, Zydex Trading is a continuation of the illegal solicitation of entities named as Sophia Francisco Holding OPC, Financial Consultancy Services Sophia-Francisco, Sophia Francisco Trading, and Cryptogix.
In a separate advisory, the SEC said that Moneyfescent has been soliciting investments in a social media group, through the direct selling of products.
Investors are offered two different packages: the “Brand Ambassador Package” worth P350 and the “VIP Package” worth P3,500, which is separated into “VIP Package B”, and “VIP Package C.”
Investors may also hold more than one VIP account to maximize profits ranging from P7,000 to P217,000 per day, depending on how many accounts the investor has.
The SEC characterized the companies’ offering as a Ponzi scheme where monies from investors are used in paying “fake profits” to prior investors.
The commission has also stated that all three entities have not secured a permit to sell or offer investment contracts to the public. — Adrian H. Halili
