THE Securities and Exchange Commission (SEC) advised the public not to put their funds in two investment-taking entities that have not secured the authority to solicit investments.

In separate advisories, the SEC identified the entities as BitPocket and Agri Marine Ventures.

BitPocket, also known as BitPocket Community Wallet, has been offering investment packages starting from $20 up to $10,000. It has been promising passive income for investors, with a daily rate of return of 1% to 300% in 30 to 300 days.

Investors may also earn 1% to 10% as incentives for referrals.

Meanwhile, Agri Marine Ventures has been enticing would-be investors online, the SEC said, adding that the entity has been using its Department of Trade and Industry registration “to put a color of legitimacy as its purported business activity.”

The entity is said to be engaged in farming, poultry, piggeries, fisheries, and wet markets. It has been offering four investment plans called Farming, Direct Referral Bonus, Unilevel, and Rising Cycle.

Investors, depending on their chosen plan, are supposed to earn either through an initial investment of P500 to P10,000 and above or through direct referrals that earn 10% to 15% of their investments.

The SEC, upon its investigation, found out that the investment-taking entities are not registered as a corporation nor as a partnership. They are also operating without a license to take investments from the public. — Adrian H. Halili