The Securities and Exchange Commission (SEC) has cautioned the public against investing in Tether-Pay/Tether.Pay.com/Tether Pay Ltd./Tether Pay Limited.
Information gathered by the SEC showed that individuals or group of persons headed by CEO Rendon Duran is soliciting investments from the public purportedly to be invested in foreign exchange and cryptocurrency trading.
According to the SEC, Tether.Pay is not authorized to solicit investments from the public.
Tether Pay has been enticing the public to invest between P557.50 and P1.672 million online or through the internet.
Through the investment, investors can earn guaranteed three to 10 percent daily profit in 70 days or equivalent to 210 percent for the same period.
The SEC likewise offers ROI percent upgrades and commission levels.
“Tether-Pay/Tether.Pay.com/Tether Pay Ltd./Tether Pay Limited appears to be engaged in a fraudulent scheme of offering and selling unregistered securities in the form of investment contracts in violation of Sections 8 and 26 of the Securities Regulation Code,” the SEC said.
It has advised the public not to invest or stop investing in any investment scheme being offered by Tether.Pay.com.