The Securities and Exchange Commission on Friday advised the public against dealing with four companies allegedly engaged in unauthorized solicitation of investments.
It issued separate advisories to warn the public against investing in Dairy Farmers of America, Reigns Profit Sharing, PNJS Profit Sharing and Infinity Success Trading.
The SEC said the four firms were not registered with the SEC and were not authorized to solicit investments from the public as they have not secured required license from the corporate regulator.
It said that based on investigation, DFA was impersonating and misappropriating the logo of Dairy Farmers of America “in illegal solicitation of investments to the public”.
The SEC said Dairy Farmers of America is a legitimate farmer-owned milk marketing cooperative and dairy processor based in Kansas, USA and is not in any way connected to DFA which is operating in the country.
It said DFA was enticing investors to invest in the company to purchase cattle to be raised for milking purposes. Profits from the sale of milk are supposed to be given to investors.
DFA reportedly promises guaranteed returns from as low as 3 percent to as high as 66 percent for investments ranging from P100.00 to P10,000.00 in one to 30 days. The entity also offers referral commission for any direct recruit, according to the SEC.
The SEC said Reigns Profit Sharing was also urging the public to invest in its business scheme for a promise of high monetary rewards or profits, such as earnings of 70 percent up to 120 percent after 30 days.
Investors are only required to deposit money and could expect a lucrative return on investment without any definite plan on how the business will operate or what products to sell to earn a profit.
The SEC also warned the public about PNJS which lures the public to invest as low as P1,000 per account, which will earn 1.9 percent for 30 days.
The SEC said Infinity Success was claiming to be composed of a group of professional traders that would help investors learn the safest way to trade. It is also offering investments to the public with a minimal amount of P500 up to P100,000 but with promised earnings of 40 percent after seven days.
