The Securities and Exchange Commission (SEC) has issued a warning to the public against investing in Camacho Trading, which has been illegally soliciting investments in violation of the Securities Regulation Code.
The company has been enticing individuals through social media to invest in its newspaper packaging supplies trading, promising a 10 percent return on investment.
However, the SEC has found that Camacho Trading is not registered as a corporation or partnership, and is operating without the necessary license and authority to solicit, accept, or take investments from the public. As per the SEC, any offer and/or sale of securities must be duly registered with the Commission.
The public is advised not to invest or to stop investing in the investment scheme being offered by Camacho Trading and its representatives. Those who act as salesmen, brokers, dealers, or agents, representatives, promoters, recruiters, uplines, influencers, endorsers, abetters, and enablers of Camacho Trading may be held criminally liable under Section 28 of the SRC and penalized with a maximum fine of P5 million or imprisonment of 21 years or both.
The SEC also encourages the public to report any suspicious activities and investment schemes immediately to avoid further harm.
