March 1, 2024

The Securities and Exchange Commission has advised the public against dealing with the some entities due to their unauthorized solicitation of investments without the necessary license from the commission.

These are Prime Capital Solution, Solace Ph, Salon De Pamplona, Jtradefx Foreign Exchange Service, Goldia by Shine under the license of Fujesan Distribution Corporation, Pecado/Ashtree Consultancy, Inc./Ashtree Block Ventures LLC, BNY PAL (Benta Paluwagan), and One 1Key Progress Booster (OKPB), Inc.

Some of these groups’ investment schemes or actions resemble a pyramid/Ponzi scheme, where investors earn through recruitment fees instead of the sale of actual products/services, and investors are paid using the contribution of new members, according to the SEC.

The SEC remains unwavering in its efforts to stamp out illegal investment-taking activities through financial literacy campaigns and advisories to the public.

Visit the SEC website at www.sec.gov.ph to learn more about the commission’s enforcement actions and investor education campaign. – Press release