The Securities and Exchange Commission (SEC) has warned the public against dealing with entities called Mazama and Winvest due to their illegal investment schemes.
According to the SEC, Mazama, which is both a website and an app that can be downloaded from the play store, is engaged in investment-taking through supposed renting of ads machine.
Individuals are offered investment schemes wherein they may invest as low as P500 up to P1 million, and can earn as much P165,000 daily.
Winvest, on the other hand, is offering two types of investments ranging from a minimal amount of P500 up to P100,000 per account with earnings as much as 3.5 percent for 14 days.
Interested individuals are encouraged to sign up at their website www.winvestph.com and choose a preferred plan and make an investment.
The SEC said both Mazamat and Winvest are not registered as a corporation nor as a partnership.
Both entities also operate without the necessary license or authority to solicit or take investments from the public.
As such, the SEC has advised the public not to invest or to stop investing in the investment schemes being offered by both Mazama and Winvest and their representatives.