The Securities and Exchange Commission (SEC) has ordered Sophia Francisco Holding OPC and BeastnessAllDay Corp. to stop soliciting investments from the public, as part of its crackdown against unauthorized investment schemes.
In an order dated November 24, the SEC’s collegial body directed Sophia Francisco Holding OPC, Financial Consultancy Services Sophia-Francisco, and Sophia Francisco Trading to stop offering and selling investments to the public without the necessary license from the SEC.
The order covers owner and agent Sophia Maria Andrea Francisco, president Gregorio Ramirez, nominee Yolanda Ramirez, and alternate nominee John Mark Henarez Francisco, as well as all persons, conduit entities and subsidiaries acting on behalf of the group.
The Sophia Francisco Group offered investments worth as low as P500 with guaranteed earnings of up to three percent daily for 20 days. It also gave a five percent referral fee to those who can invite new investors into the group.
SEC has also directed the group to cease its internet presence relating to its investment scheme and to stop transacting any business involving funds in its depository banks, and disposing any assets to ensure the preservation of the assets of the investors.
Meanwhile, BeastnessAllDay, led by its owner and CEO Angelo Diaz Parian, was found to be promising 10 to 12 percent monthly returns after a five-month period to investors who invest P50,000 into the group.
The guaranteed returns will supposedly come from its investments, sale of gadgets, real and personal properties, luxury vehicles, shoes, and other apparels.
“The products and business are however all a sham, and are utilized to entice the public to part with their hard-earned money,” the SEC said.
According to the SEC, Parian has been arrested for practicing financial activities without the requisite license and for money laundering.
“The investment schemes of BeastnessAllDay and Sophia Francisco Group both involve the sale and offer of securities to the public in the form of investment contracts, whereby a person invests his money in a common enterprise and is led to expect profits primarily from the efforts of others,” the SEC said.
“This is a fraudulent scheme which will likely cause grave or irreparable injury or prejudice to the investing public,” the corporate watchdog added