SEC warns against two unlicensed investment-taking entities
THE Securities and Exchange Commission (SEC) has warned the public against putting money in two investment-taking entities, which have not secured a license to offer shares.
In separate advisories, the SEC identified these entities as S&C Shamai Cloverleaf Group of Companies, Inc. and Camacho Trading.
The advisory stated that S&C Shaimai has been enticing the public on social media and online to invest in the company for a minimum of P10,000, which is said to earn 10% to 25% in interest after 30 to 45 days.
S&C Shaimai is comprised of several entities: Shaimai Best Food Hub, Shaimai Burger, Shaimai Best Pizza, Clover Leaf Realty Development, Clover Leaf Administration of Financial Marketing, Broom Broom Express, and Shaimai Tech Computer Trading.
Additionally, Broom Broom Express, a delivery service, is enticing the public to invest while guaranteeing 25% interest for a minimum amount of P89,000.
Meanwhile, Camacho Trading allegedly deals in supplying Korean newspapers to use as packaging supplies for vegetables, fruits, dried fish, and flowers, among others.
The entity promises investors a 10% return on investment per month. Its online posts claim that an initial investment of P50,000 may net a would-be investor up to P5,000 for the first six months then a return on the initial investment on the seventh.
In its review, the commission stated that both entities are not authorized to solicit investments from the public. — Adrian H. Halili
