The Securities and Exchange Commission (SEC) has issued a warning to the public regarding investment activities associated with White Dragon Investment Group.
The SEC stated that White Dragon, led by CEO and founder Justin Arvin Santos Atendido, lacks authorization to seek investments from the general public.
The company is not officially registered with the SEC, and the securities being offered to the public in the form of investment contracts have not received approval from the corporate watchdog.
White Dragon is alleged to be involved in a range of business sectors, including real estate development, food and beverage, franchising, leisure and gaming services, poultry and egg production, as well as private investments.
The entity entices potential investors with the promise of a three percent monthly interest, requiring a minimum investment of P100,000, which equates to an annual return of 36 percent.
The SEC strongly advised the public against participating in any investment schemes presented by White Dragon and its representatives.