The Securities and Exchange Commission (SEC) has issued a warning to the public regarding the illicit investment scheme operated by an entity known as Seven Co.
According to reports received by the SEC, Seven Co is enticing individuals to invest in their business scheme called Seven Co Investment & Online Paluwagan/Seven Co Profit Sharing & Online Paluwagan, promising substantial monetary rewards and profits.
The scheme guarantees investors a 20 percent interest rate for a 10-day investment and a 30 percent interest rate for a 15-day investment.
Upon investigation, the SEC has determined that Seven Co’s scheme exhibits the characteristics of a Ponzi scheme, where funds from new investors are used to pay false profits to earlier investors.
This structure primarily benefits the top recruiters and initial risk-takers, while placing subsequent members at risk in the event of a shortage of new investors, as per the regulatory body.
Furthermore, the SEC has discovered that Seven Co is not registered as a corporation or partnership, nor does it possess the necessary license or authority to solicit investments or offer securities.
In light of these findings, the SEC has advised the public to exercise caution when engaging with any individual or group soliciting investments on behalf of Seven Co.
Moreover, the public is strongly advised against investing or continuing to invest in the investment scheme presented by this entity or its representatives.