Negrenses warned vs. investment scam

By Jennifer Catan-Tilos

NEGROS ORIENTAL (PIA) – The Securities and Exchange Commission (SEC) has warned Negrenses to be cautious on possible investment scam that offer high earnings or some business opportunities.

SEC Ddirector Atty. Lindeza Gavino said swindlers offer various investment packages through friends or any person recruiting, phone, email or online, entities, flyers, and newspaper advertisement.

Gavino advised the public to refrain from dealing with such kind of investment offers without SEC registration or appropriate license to engage in activities that would turn out to be bogus.

“Those who invite or recruit people to join or invest in the venture or offer investment contracts or securities to the public may be held criminally liable or accordingly sanctioned or penalized,” the SEC official said.

It is noted that most vulnerable to investment scam are teachers, overseas Filipino workers, wives of emigrants, and government officials who are promised with quick returns on their money.

The SEC official reminded the Negrenses should first approach their office to countercheck company information before investing their hard-earned money in a business venture.

SEC received complaints on the following companies that are engaging in illegal solicitation of investments perpetrated by Jap Ratangco, Jacama Sales and Marketing, Techno Innovation Marketing Enterprise Corporation, 24K Timesgold International Marketing Inc., Starjed Micro Financing Corp., Dragon One Network Trends Corporation, Pretty Pink Holdings Co. Inc., FarmOn Agricultural Production, Pedvel Marketing, Shopper’s Circle, Jmatth General Merchandise, and Dollar International Investment Program.

SEC has advised the public to stop  investing and recruiting other people to invest money and to take necessary precautions in dealing with said companies and its representatives.

The public is also urged to report any information regarding the operation of said entities to call the SEC’s Enforcement and Investor Protection Department or SEC Cebu Extension Office at telephone numbers (032) 253-6987 or 253-5337. (rmn/jct/PIA7-Negros Oriental/This article was first published at PIA website on July 22, 2016)

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