The Securities and Exchange Commission has cautioned the public against dealing with Upsys Daily Trading, saying the entity is not authorized to solicit investments.
The SEC received reports that certain individuals or groups of persons representing Upsys Daily Trading are enticing the public to invest from as low as P500 up to P150,000.
Investors are promised earnings of two to four percent daily, or P900 up to P540,000 after three months of lock-in period.
They can also earn 50 percent direct referral bonus for first level and one percent unilevel bonus for second up to 10th level.
The SEC, however, said Upsys Daily Trading is not registered as a corporation nor as a partnership.
The entity also operates without the necessary license and authority to solicit, accept or take investments/placements from the public nor to issue investment contracts and other forms of securities.
“The public is hereby advised not to invest or to stop investing in the scheme being offered by Upsys Daily Trading vis-à-vis John Villarino as well as in any other entities having the same or similar schemes,” the SEC said.
