The Securities and Exchange Commission on Thursday warned the public about dealing with three companies that are allegedly soliciting investments without prior consent from the regulator.
The commission, in an advisory posted on its website, warned the public against investing in Nutriwealth Multi-Purpose Cooperative, Bibli Online Store and Kapa Community Ministry International Inc.
It said the three companies were not authorized to solicit investment from the public as they have not secured the necessary license or permit as required under the Securities Regulation Code.
Based on information gathered by SEC, Nutriwealth was offering to the public investment opportunities termed as “savings” which involves a deposit of P1,000 up to P100,000 per month for a fixed term of 5 to 35 years with 12-percent annual interest income.
It also offers “double your Money in 5 years” with a minimum one-time deposit of P5,000 and a maximum one-time deposit of P100,000.