THE COUNTRY’S corporate regulator has traced two illegal investment operators that involve selling piglets for easy-earning schemes.
The Securities and Exchange Commission (SEC) issued a warning against Pigdeals International Holdings, Inc., headed by a certain Dwayne Ramos Walberg, and Pigdeals Agriventures Hog Farm Trading, headed by a certain Rocky Manalo Gonzales.
The SEC said in an advisory on its website that these companies are engaged in luring investors online on a three-month money-making business. However, the two companies do not have the SEC licenses required to operate such investment businesses.
It is therefore advising the public to “exercise caution” before investing and in dealing with the two companies.
“The public is hereby informed that any offering to the public which involves investment of money in a common enterprise with the expectation of profits…needs to be registered with the Commission,” it said.
“Note that the registration of Pigdeals International Holdings, Inc. with the SEC and Pigdeals Agriventures Hog Farm Trading with the (Department of Trade and Industry) do not authorize the said entities to offer, solicit, sell or distribute any investment/securities,” it added.
The SEC said the two companies, while registered with the government, are only granted legal rights with the registrations they hold. These rights do not include offering investment opportunities, which the SEC said requires a separate license.
Pigdeals International Holdings and Pigdeals Agriventures Hog Farm Trading were supposedly offering its customers investment packages, where with an investment of at least P2,500, it would raise a piglet and sell it in three months for a net profit of P4,500 to the investor.
Offering such investment opportunity without license is a violation of the Securities Regulation Code, therefore the salesmen, brokers, dealers or agents of the two companies may be fined a maximum of P5 million or a 21-year imprisonment.
The two companies were contacted for comment but did not respond as of press time. — Denise A. Valdez