The Securities and Exchange Commission (SEC) has warned the public against an entity called Teck Mining and the illegal investment scheme it is offering.
In an advisory, the SEC said it received reports that a group of persons representing Teck Mining are enticing the public to invest in the company via “teckph.com.”
Potential investors are being encouraged to invest as low as P100 at a daily interest rate income of not less than two percent. For a minimum investment of P5,000, investors can earn as much as 40 percent or equivalent to P2,000 within a 20-day cycle.
The SEC has likewise received information that in offering the investment, Teck Mining representatives are claiming that the company is related to Teck Resources Ltd. of Canada and UK.
According to the SEC, Sun Life Management Co.’s insurance certificate form is also used to make it appear that investments in the entity are insured.
The SEC stressed that Tech Mining is not in any way connected with Teck Resources and Sun Life.
“The public is hereby advised not to invest or to stop investing in the investment scheme being offered by teckph.com/Teck Mining and its agents or representatives,” the SEC said.