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SEC warns public against Masa Mart

The Securities and Exchange Commission on Wednesday warned the public against investing in Masa Mart Business Center, which has been allegedly posing as a multi-level marketing program to entice the public into unauthorized investment schemes.

The SEC said in an advisory posted on its website the public should avoid engaging in the investment-taking activities of Masa Mart and its related entities or representatives, as they have yet secure approval to sell securities to the public.

Masa Mart was found to be offering a subscription and gains program, under which a member may invest at least P1,250 to P500 million, in exchange for returns of P2,746 to about P11.65 billion, depending on the lock-in period. This translates to an interest of up to 30 percent per month or up to 2,561.81 percent per year.

The group also offers The MMBC P5,888 Combo Package, where members could invest P5,888 for promised gains of P20,000 after six months; and the Do-It-Yourself subscription of 24 months, Roll-over Program where members could generate an income of P100,000 to P12 million after two years.

Topics: Securities and Exchange Commission , SEC , Masa Mart Business Center
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