The Securities and Exchange Commission (SEC) has issued advisories against four entities for their unauthorized solicitation of investments.
In separate notices, the SEC alerted the public to refrain from engaging with SK Pools Mining Corporation, R&T Lifestyle Trends International Incorporated, SOAO/SOAO Technology/SOAO-Technology Ltd Advertising Opc, SOAO Energy/SOAO Group, and Badeth’s Foodhouse.
According to the SEC, certain investment activities of these entities resemble pyramid or Ponzi schemes, wherein profits are generated primarily through recruitment fees rather than the sale of tangible products or services, and payouts are funded by contributions from new members.
Badeth’s Foodhouse, a fast-food establishment based in Bataan, has actively sought public investment for its restaurant expansion venture, offering a monthly return of 10 percent over a six-month period with a minimum investment of P50,000.
Meanwhile, the SOAO Group was found offering investment opportunities under the guise of power generator rental/lease arrangements, promising returns of P9 or 180 percent per kilowatt-hour over a 24-hour period.
Prospective investors in R&T Lifestyle, operating under RT International Ph, are presented with various packages offering earning potential through direct referral bonuses and Unilevel bonuses.
As for SK Pools Mining, individuals interested in investing are required to sign up through a provided link and purchase cloud-mining machines, ranging from P700 to P75,000, with promised daily earnings ranging from P70 to P1,960.
The SEC has advised the public against participating in, or discontinuing participation in, any investment scheme offered by individuals or groups purportedly representing any of the four entities.