The Securities and Exchange Commission (SEC) has urged the investing public to be wary of individuals or groups hawking reseller business partnerships that may only be a front for unauthorized investment schemes.
In separate advisories issued on April 14, the SEC flagged the solicitation and investment-taking activities of JOCALS688 Beauty and Wellness Products Trading Inc., TBCMMP Masa Mart Inc. and CashCowRobot.
These three entities do not have any license to sell securities or solicit investments, although JOCALS688 and TBCMMP Masa are registered corporations.
Zamboanga del Sur-based JOCALS688 entices the public to invest P10,000 to P100,000 with an assured 30 percent monthly return. Members are promised that they will earn money through direct selling and the buy-and-earn program.
The products distributed by JOCALS688 are not registered with the Food and Drug Administration (FDA).
TBCMMP Masa Mart offers a package of products for P5,888 alongside instant benefits such as products worth 75 percent of the amount invested, as well as free annual subscription worth $10 and a $100 in The Billion Coin (TBC), which the SEC likewise flagged in a separate advisory.
CashCowRobot promises investors that they will earn P8,000 per day by recruiting more members, completing tasks online and selling digital products. It is supposedly registered with the Department of Trade and Industry as CashCowRobot Computer Solutions, an entity owned by a certain Khen Narajo Salce and headquartered in Misamis Occidental.
Such registration does not give CashCowRobot the authority to solicit investments from the public, the SEC stated.
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