The Securities and Exchange Commission on Monday cautioned investors from putting their hard-earned money into Sophia Francisco Holding OPC, which it said was not authorized to solicit investments from the public.
It said in an advisory posted on its website, Sophia Francisco and its related entities, including Sophia Francisco Trading and Financial Consultancy Services Sophia-Francisco, did not secure prior registration and license from the corporate regulator.
The SEC said the company was offering investments to the public with a minimal amount of P500 per account. It promises investors they would earn 3 percent daily or a total of 60 percent in 20 days. A 5-percent referral fee is also given to investors who would be able to recruit new clients.
The SEC said Sophia Francisco allegedly earns through crypto trading. “The public is advised not to invest or stop investing in any investment scheme being offered by any individual or group of persons for or on behalf of and to exercise caution in dealing with any individuals or group of persons soliciting investments for on behalf of it,” it said.