THE SECURITIES and Exchange Commission (SEC) warned the public against investing in Modesto Cardano Market Cap Tr3ding Services OPC and an entity posing as Super 9 Shopping Centre, Inc., as they do not have license to solicit investments.

In an advisory on its website, the SEC said that Modesto Cardano is reportedly offering investments to the public.

The entity promises that investors could earn 20% up to 200% depending on the investment. Investors could invest from P500 to P10,000.

In addition, investors can earn a 15% direct referral bonus and 1% multilevel referral commission.

“The transactions stated above are considered ‘investment contracts’ and must be registered with the commission,” the SEC said.

The SEC warned that those acting as salesmen, brokers, and dealers of the entities could face a maximum fine of P5 million, a 21-year imprisonment, or both pursuant to Republic Act No. 8799 or the Securities Regulation Code.

In a separate advisory on its website, the SEC said that individuals or groups representing an entity named Super 9 Shopping Centre, Inc. are “falsely impersonating” the duly registered Super 9 Shopping Centre, Inc.

“Verification also confirms that the legitimate Super 9 Shopping Centre, Inc. has no affiliation with or connection with the fraudulent entity engaged in these illegal investment activities,” the SEC said.

The entity reportedly invites the public via social media platforms into investing their money with the promise of high profits.

It attracts the public via an online job advertisement. Once registered, participants are instructed to accept orders for products from affiliated stores with a promise of earning a commission. Before carrying out any tasks, the participants will be required to deposit a specific amount.

The SEC added that the entity is presenting a copy of its alleged certificate of registration as a way of enticing the public to invest in its scheme. — Revin Mikhael D. Ochave

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