CEBU CITY, Cebu, Oct. 14 (PIA) -- The Securities and Exchange Commission (SEC) urged the public to secure their financial future by becoming smart investors.
SEC marks the observation of “World Investor Week” this year, with the theme focusing on sustainable finance and the prevention of frauds and scams.
The World Investor Week is a global campaign by the International Organization of Securities Commissions (IOSCO) that encourages securities regulators to put a spotlight on efforts to promote investor protection.
SEC is taking part in the said observation, taking cues from the IOSCO’s mission to boost financial literacy to promote sustainable economic growth and prevent the spread of scam and fraud among the investing public.
SEC recognizes the importance and continues to strive for a scam-free financial environment, which will only be possible if everyone will work together in exposing and avoiding fraudulent schemes.
Meanwhile, SEC Cebu officials, during “Kasayuran” radio program over DYAR Sonshine Radio, said they issued separate advisories identifying more online groups engaged in investment-solicitation activities without the necessary licenses.
SEC named the company, SCET Colleens, which is involved in offering beauty, cosmetic, ahome and personal care but offered packages that solicit huge amounts of investments from the public even without the necessary license and permit.
The office is located at unit 2004 Grand Residences, Apitong St., Cebu City.
SCET Colleens claims it has acquired a secondary license from the SEC using a fake certificate posted in its office or shown to clients.
Another scam identified by SEC is Royal O Financial Consultancy Services OPC founded by Princess Joana Alfajid Campos.
The nature of this investment platform for various entities such as: Pro Magnet Cockpit Arena or E-Sabong, Plasmatech Medical Supplies Trading, and Genious Global Impact and Export Corporation.
Their office was located at the ground floor of APM Central in Mabolo, Cebu City and launched the said companies on May 28 in a five-star hotel here in Cebu City.
On Sept. 13, the National Bureau of Investigation filed syndicated estafa before the Cebu Prosecutors Office against Campos and six individuals for allegedly obtaining at least P12 million in cash by swindling individuals.
SEC warned the public to verify first the investment if it is registered with their office and check the validity of their documents.(HFG/PIA7)
