Philippines SEC Warns of New Investment Firms

The Philippine Securities and Exchange Commission (PH SEC) has issued a strong warning to the public, urging them to be wary of many investment businesses that operate unlawfully and offer attractive but questionable investment plans. These firms, which are not registered with the Philippine Securities and Exchange Commission, entice investors with promises of large profits, raffle entries, and lavish incentives.

Unfortunately, these programs sometimes turn out to be frauds, notably Ponzi schemes, in which cash from new investors is used to pay off previous ones, leaving the majority with losses. The PH SEC has flagged many investment businesses, which are described below.

Trust Trade International

Trust Trade International, directed by Tristan Terrence Villaflor Ignacio, has many corporate identities, including Terrence Ignacio's corporate Consultancy and Tristan Ignacio's Marketing Consultancy. This business has been proposing investment programs that promise to earn returns ranging from 120% to 220% in 10 to 30 days. Investments start at PHP 2,000 and may go up to PHP 100,000, with the guarantee of a single payment.

Trust Trade International adds to its attraction by offering gimmicks such as a “Gadget Promo” and “Motorcycle & Car Incentives,” in which investors are offered free gadgets or down payments on automobiles. They even operate a raffle entry system in which investors may win an iPhone 15 if they contribute PHP 100,000 or more.

However, the PH SEC has said that Trust Trade International is NOT REGISTERED as a company or partnership, nor has it obtained the requisite licenses to offer securities, as required by Sections 8 and 28 of the Securities Regulation Code (SRC). The commission has also expressed worry that Trust Trade International is likely running a Ponzi scheme in which new investors' monies are used to pay off the alleged earnings of previous investors. As a consequence, the plan is unsustainable and offers considerable hazards to the public, especially if the influx of new investors stops.

TradeExpert

TradeExpert, led by Angelito Harina, describes itself as a platform that provides a “hands-free trading experience” using copy trading and an automated trading bot. Investors are enticed with promises of daily earnings ranging from 1% to 1.5% over the course of 10 to 30 days. Furthermore, TradeExpert provides a compounding interest plan with an eye-popping yearly return of 8,538.06%, which is paid by post-dated checks.

TradeExpert, like other warning businesses, is NOT REGISTERED with the PH SEC and has not secured the necessary licenses to offer securities to the public. The PH SEC also said that the nature of TradeExpert's company shows that it may be conducting a Ponzi Scheme, in which previous investors are compensated with funds from new participants, rendering it unsustainable in the long term.

Modesto Cardano Market Cap. Trading Services OPC

This organization, led by Modesto Miravalles, provides appealing investment options starting at PHP 500, with daily returns of up to 20%. Participants are given 50% returns after 10 days, 80% after 15 days, and up to 200% after 35 days, depending on their investment. Investors may also benefit from referral incentives and multi-level commissions, making it enticing to those seeking rapid earnings.

Despite these attractive promises, the PH SEC advises the public that Modesto Cardano Market Cap. Trading Services OPC is not authorized to solicit investments since it has the requisite SRC licenses. The firm's business concept is another example of an investment contract that must be properly registered with the PH SEC. Its inability to comply with these requirements puts investors in serious danger.

VaulTrade

VaulTrade, founded by Mia Bianca Jacinto, offers two investment programs that promise returns of 60% for the BASIC PLAN and 140% for the PRO PLAN, all within 10 to 200 days. Investors may also receive 5% referral bonuses and further incentives when their recruits reinvest their gains.

VaulTrade has been identified as another unregistered firm by the Philippine Securities and Exchange Commission. Without an appropriate license, the company is not permitted to offer, solicit, or sell securities to the public. The PH SEC also found Ponzi Scheme characteristics in VaulTrade's activities, warning that such schemes are unsustainable and could eventually hurt investors if the flow of fresh investments slows.

Glass Coin

Glass Coin describes itself as a trust fund that manages bitcoin holdings. Smart contracts are expected to provide investors with speedy returns, with daily earnings of PHP 66 on an initial investment of PHP 600 and total returns of up to PHP 1,999,980 on higher-tier investments. Additionally, members may earn referral bonuses and monetary prizes by following Glass Coin on social media channels like as Telegram.

Glass Coin, on the other hand, is another company that operates WITHOUT REGISTRATION with the Philippine Securities Exchange. Its investment strategy, like many on this list, has all the markings of a Ponzi scam, raising serious concerns about the safety of investors' cash.

Pionex Club

Pionex Club, promoted by Reme Corpuz, provides investment programs that promise 3% daily returns for 30 days and earnings ranging from 30% to 75% in as short as 7 to 15 days, with a PHP 1,000 investment. Despite these enticing promises, the PH SEC has certified that Pionex Club is NOT REGISTERED and hence not authorized to solicit investments. The PH SEC thinks Pionex Club, like the other companies on this list, is conducting a Ponzi scheme.

Protect Yourself with WikiFX

The PH SEC has often warned the public to exercise caution and check the legality of investing businesses. The WikiFX app is a highly recommended tool for this since it offers key features to safeguard investors:

• Firm Verification: Easily determine if a company is regulated and approved by regulatory agencies such as the Philippine Securities and Exchange Commission.
• Exposure Section: Share and access reports about fraudulent companies to assist others avoid fraud.
• Detailed Reviews: Gain insights from extensive assessments of investing businesses, which evaluate their reputation, risk level, and service quality.
• Real-Time Alerts: Stay up to speed on the latest warnings and advisories issued by the Philippines Securities and Exchange Commission and other financial regulators.

Using resources such as WikiFX, investors can protect their hard-earned money and avoid falling prey to these fraudulent scams. Always undertake rigorous research before making any investment, and prioritize your financial security.

Bottom Line: The Philippine Securities and Exchange Commission (SEC) continues to safeguard the public by identifying unregistered investment businesses and warning against high-risk Ponzi schemes. Stay educated and careful, and use sites such as WikiFX to confirm the validity of any company before investing.

Protect Yourself from Investment Scams! The PH SEC warns about fraudulent schemes like Trust Trade International and TradeExpert. Use WikiFX to verify firms, access scam reports, and get real-time alerts. Stay informed at WikiFX News.