NEGROS ORIENTAL (PIA) — The Securities and Exchange Commission (SEC) warned Negrenses against Klikmart Shopping Club or Klikmart Rewards for soliciting investment from the public.
In a report from National Bureau of Investigation, Klikmart is now operating within Negros Oriental and allegedly solicits investments from the public with the promise of a large pay-out but without the necessary permit from SEC.
Director Atty. Lindeza Gavino of SEC Cebu extension office said Klikmart is not authorized to take investment from the public as it did not secure the necessary permit from SEC as required under Section 8 of the Securities Regulation Code.
In an advisory, Atty. Gavino said Klikmart is operating a marketing plan which promises that a member will earn 33 percent interest after a minimum period of 21 days to a maximum period one month.
Part of SEC’s verification: “that for a minimum amount of P1,500 daily, the investor will earn P500. The maximum investment is P15,000 daily. The investor has the option to withdraw his investment plus interest or roll-over his money upon maturity.”
Atty. Gavino said that “based on its articles of incorporation, it was formed for the purpose of operating the business of marketing and distribution of goods such as but not limited to soap and perfumes, wares, merchandise of every kind and description in wholesale and retail basis.”
Gavino stressed that it is apparent that the purpose does not include the undertaking of investment-taking activities.
The SEC official said those who invite or recruit other people to join or invest in this venture or offer investment contracts or securities to the public may be held criminally liable and accordingly sanctioned or penalized.
The public is advised to stop investing and take necessary precautions in dealing with Klikmart.
The public is asked to inform SEC of any operation of Klikmart or call the Enforcement and Investor Department at tel no. (02)584-7187. (rmn/jct/PIA7-Negros Oriental/This article was first published at PIA Website on Oct. 13, 2015)