The Securities and Exchange Commission (SEC) has issued a public advisory warning about an unregistered entity, Prolayer Egg Layer Poultry Farming, which is illegally soliciting investments under the guise of an egg poultry farming business.
In its advisory, the SEC said Prolayer Egg Layer Poultry Farming is using its Department of Trade and Industry (DTI) registration to create an appearnance of legitimacy for its purported business activities.
However, the SEC noted that the investment schemes promoted by the company, particularly involving Anthony Pascual Ebusca, appear to be fraudulent and involve the solicitation, offering, and/or selling of unregistered securities to the public.
While Prolayer Poultry Farm is registered with the DTI, the SEC emphasized that the investment offering by Prolayer Egg Layer Poultry Farming exhibits characteristics of securities, as it includes elements of an investment contract. These elements encompass direct and indirect referral commissions, along with enticing promises of five percent daily earnings for 30 days, provided investors commit a minimum of P200.
