SEC flags three more entities, including impostor of US firm
THE Securities and Exchange Commission (SEC) has cautioned the public against investing in three entities after soliciting investments without the necessary registration.
In three separate advisories, the SEC flagged Morgan Stanley Investment Firm, Hope Financial Marketing OPC, and Multi-Asset Solution as they are unauthorized to solicit investments.
The corporate regulator said that Morgan Stanley Investment Firm Elinyapp/Eliny-Ph.com/Eliny App is allegedly enticing the public to invest in the entity, which appears to impersonate American global financial services firm Morgan Stanley.
The entity offers investments from P500 to P1,500, promising a 50% daily profit, a 10% share from a direct referral, and a minimum salary ranging from P350 to P6,500, which resembles a Ponzi scheme where money from new investors is used in paying “fake profits” to prior investors, the regulator said.
The SEC said that foreigners could be responsible for the scheme due to the use of “Philippine financial department” and “Ministry of Finance” in the entity’s posts and marketing materials.
“As posted online, the entity claims that it is an app owned by Morgan Stanley, which provides real-time investment based on the port container shipping index. It is further claimed that it is the first policy to benefit the people launched by the Philippine Financial Department in order to quickly revive the national economy,” the SEC said.
“It is also the first policy to benefit the people launched by Morgan Stanley when it opened an additional office in the Philippines. They allege that it is legal, safe and permanent, and is an important tool for the Filipino people to increase their wealth,” the corporate regulator added.
The SEC said in a separate advisory that Rizalyn Lopez through HOPE Advertisement Marketing/HOPE Financial Marketing OPC allegedly encourages the public to invest online ranging from P1,000 to P50,000 depending on the chosen plans.
The entity offers four plans consisting of short-term, long-term, lock-in contract, and monthly profit sharing that promise guaranteed profits ranging from 20% in eight days to 160% in 40 days.
The monthly profit-sharing plan also offers 40% guaranteed profit monthly for five months plus 140% profit on the sixth month. The plans also include referral commissions and royalty rewards.
Meanwhile, the SEC said that Multi-Asset Solutions (MAS) and/or Multi-Asset Financial Consultancy Services and/or JBF and Gainz Philippines Founder and/or Julie May Velasco Vergara allegedly offers three investment plans consisting of starter (seven-day period), standard (15-day period), and superior (25-day period).
According to the corporate regulator, the entity is soliciting investments to be invested in activities such as heavy equipment rentals, cryptocurrency trading, casino VIP financing and land development.
The entity promises a guaranteed profit from 30% to 200% after an investment ranging from P500 to P500,000, as well as a referral bonus equivalent to 10% of the investments received from referrals. — Revin Mikhael D. Ochave
