SEC revokes registration of Astrazion, warns public against Asenso Business

THE Securities and Exchange Commission (SEC) has revoked the registrations of Astrazion Noble Task Community Foundation and Astrazion Global Holdings Philippines, Inc. It has also advised the public not to invest in Asenso Business Group Trading, Inc.

On Feb. 3, the SEC issued an advisory to warn the public about investing in entities under the name Astrazion Foundation, Astrazion Global, and Astrazion International. It then issued a cease-and-desist order against the Astrazion group to put a stop to its internet presence and investment scheme.

According to the SEC, the Astrazion group’s articles of incorporation do not state in its primary purpose that it is authorized to engage in the selling of securities.

It said the group is “offering and soliciting money placement of investments from the public with a promise of lucrative earnings of  3% daily depending on the amount of the AZNT token package availed for a period of 100 days.”

The SEC considers the Astrazion group’s system a Ponzi scheme as it promises a lucrative return on investment within a short period of time.

Meanwhile, the SEC said that Asenso Business entices the public to invest with a promise of a cashback rebate depending on the plan availed by the investor.

Asenso Business offers four kinds of plans: Pioneering Plan for the capital of P500 to P900; Premium Plan for P1,000 to P4,999; Deluxe Plan for P5,000 to P50,000; and VIP Account Plan for P50,000 and above.

The company was reported to also have been circulating a tampered SEC certificate and registration.

“The public is hereby informed that Asenso Business Group Trading, Inc. is not authorized to solicit investments from the public,” the SEC said.

It added that the business has not secured registration and license to sell securities or solicit investments in accordance with Section 8 of the Securities Regulation Code. — Justine Irish D. Tabile