The Securities and Exchange Commission (SEC) is cautioning the public against the “tasking and recharging” investment schemes of two entities.
The SEC has issued separate advisories against Robinson Company and America Mall-PH, both of which are using fake certificates of incorporation to appear legitimate.
According to the SEC, both entities entice the public to invest in their schemes, which offer online jobs involving specific tasks. These tasks promise monetary rewards or commissions upon completion.
After completing a task, investors are assigned additional tasks with the promise of higher commissions. However, withdrawing earnings often requires additional funding or recharging from the victim.
The SEC has noted that the tasking and recharging scheme resembles a possible pyramid scheme, where investors earn through recruitment fees rather than the sale of actual products or services. Investors are paid using the contributions of new members.