The Securities and Exchange Commission (SEC) has flagged the investment scheme being offered by an entity called Meta Trade.
The SEC said it received reports that individuals or groups of persons representing Meta Trade had been enticing the public through social media and their own independent websites to invest.
Investors are promised earnings of as low as 30 percent after five days, to a high of 400 percent after 30 days for investments ranging from P500 to P100,000.
However, the SEC said Meta Trade is not registered as a corporation or partnership, and operates without the necessary license and authority to solicit or take investments from the public.
The Securities Regulation Code requires the offer and/or sale of securities to be duly registered with the SEC, and that the concerned entity and/or its agents should have the appropriate registration and license to sell such securities to the public.
