March 5, 2024

The Securities and Exchange Commission has warned the public anew against transacting with five more firms which are reportedly soliciting investments without license.

In its advisory dated Dec. 20, the SEC in its official Facebook page flagged Solace PH, Salon de Pamplona, JTradeFX Foreign Exchance Service, Goldia by Sine under the license of Fujesan Distribution Corporation, and Pecado/Ashtree Consultancy Inc./Ashtree Block Ventures LLC.

The SEC said based on reports and information it has gathered, these companies are offering and soliciting investments from the public in exchange for promised profit or interest.

It urges the public to not invest or stop investing in these companies.

Tandaan na ang mga ito ay hindi rehistrado at walang pahintulot mula sa SEC upang mangalap ng investment mula sa publiko,” the SEC stated in its advisory.

The SEC said the modus operandi of these companies indicate features of a ponzi scheme, where an investor is promised to earn huge profits instantly, but these amounts come from the contributions or monies invested by those who are lured into the scheme.

Eventually, investors would not be paid, especially those who have just recently enlisted as members.

The SEC urged the public to share the advisory in their social media accounts including

Those who have information about similar illegal activities are also encouraged to report to the SEC Enforcement and Investor Protection Department or call 8818-6047, send an email to [email protected], orvisit the EIPD office at the 9/F, SEC Headquarters, 7907 Makati Avenue, Salcedo Village, Barangay Bel-Air, Makati City. – Hanna C. Lacsamana