The Securities and Exchange Commission (SEC) has advised the public against dealing with four entities due to their unauthorized solicitation of investments.
These entities are Solace PH, JTRADEFX Foreign Exchange Service, Goldia By Shine under the license of Fujesan Distribution Corporation, and Pecado/Ashtree Consultancy Inc./Ashtree Block Ventures LLC.
Solace PH offers the investing public an opportunity to earn passive income through the expertise of its CEO in trading cryptocurrency.
Engaged in the trading of foreign exchange currencies, JTRADEFX is enticing the public through its social media platform to invest their money in the company with a promise of huge returns.
Meanwhile, Goldia By Shine claims that it is selling jewelry sourced from Hong Kong and Bangkok at dropped prices, while Pecado is found enticing the public to invest in registered digital assets.
According to the SEC, some of these groups’ investment schemes or actions resemble a pyramid/Ponzi scheme, where investors earn through recruitment fees instead of the sale of actual products/services, and investors are paid using the contributions of new members.
“The commission remains unwavering in its efforts to stamp out illegal investment-taking activities through financial literacy campaigns and advisories to the public,” it said.”