The Securities and Exchange Commission (SEC) on Tuesday advised the public against investing with De Guzman Consumer Goods Trading and a certain individual named Christabel Arroyo over their alleged unauthorized solicitation of investments.
The SEC said in an advisory posted on its website that it found De Guzman Consumer Goods Trading has been inviting the public through Facebook to become an investor or co-partner in its farming and trading business, promising potential returns of 60 percent to 200 percent within 30 to 60 days.
The company, however, is not registered as a corporation or partnership and does not have the required license to solicit investments, according to the SEC.
Separately, the SEC identified Christabel Arroyo for allegedly offering investment opportunities involving bitcoin mining trading without the required certificate of registration. Arroyo allegedly urges the public through her Facebook account to invest a minimum capital of P5,000 with a promised earning of P50,000 within 24 hours.
The corporate regulator also flagged certain individuals or groups who falsely represented themselves as personnel or representatives of brokerage firm COL Financial Group to lure and scam the public.
Under the scheme, scammers impersonating current or former COL personnel told their victims that money they previously lost in other scams had been reinvested in COL.
Victims were required to pay multiple fees, including so-called “tax fees,” to withdraw the supposed investments. The funds were not returned, and the scammers kept imposing additional payments until the victims stopped complying.
The SEC also warned the public against engaging with individuals or groups who falsely represent themselves as part of COL Financial Group and use the name and logo of Alpha Securities Corp. without authority.
“The commission remains unwavering in its efforts to stamp out illegal investment-taking activities through financial literacy campaigns and advisories to the public,” the SEC said.
