The Securities and Exchange Commission (SEC) has warned the investing public against an entity called Ground Zero Poultry Agricultural Corporation, which is enticing people through social media to invest in the company.
In an advisory, the SEC said Ground Zero Poultry Agricultural has been urging the public to participate in its poultry farm pursuits.
Potential investors may opt to invest as low as P20,000 with 36 percent up to 80 percent guaranteed return on investment for the lock-in period of six or 12 months.
While records show that the entity is registered with the SEC on November 29, 2021, the SEC said such registration merely grants juridical personality to the corporation but does not authorize it to issue, sell or offer for sale securities to the public nor undertake business activities requiring a secondary license.
According to the SEC, Ground Zero Poultry has not secured prior registration or license to solicit investments.
Further investigation by the SEC also revealed that the company is connected with previously-flagged entities Hustlin Bullies and Ground Zero Poultry.
“The public is hereby advised to stop investing in the investment scheme being offered by Ground Zero Poultry …and its representatives,” the SEC said.