SEC warns against G-Harvest investment scheme

THE Securities and Exchange Commission (SEC) has issued an advisory against G-Harvest, Inc. or Great Harvest, Inc. (GHI) for unlicensed investment programs, which promises investors returns of 23% to 27% within six months for each minimum investment of P10,000.

A certain Vencint O. Canal was identified as the entity’s chief executive officer, while Shunah Mae Cemene is its corporate secretary.

The entity is inviting the public to invest to become GHI partners.

GHI markets itself as a crowdfunding platform for agricultural businesses, helping retail investors and business issuers connect with farmers and small agri-entrepreneurs.

However, the SEC said G-Harvest is not registered with the commission as a crowdfunding intermediary or a funding portal. G-Harvest also has not filed an application for registration with the commission.

GHI is also not authorized by the SEC to solicit investments from the public because it does not have a license to solicit investments as required by the Securities Regulation Code.

The names of those involved will be reported to the Bureau of Internal Revenue for the assessment of penalties.

BusinessWorld reached out to G-Harvest for comment but has not received a response as of writing. — Keren Concepcion G. Valmonte