The Securities and Exchange Commission (SEC) of the Philippines has advised the public not to invest with The Peak Finance Consultancy Services.
The government agency has reported that the team behind The Peak Finance Consultancy Services has been offering the public huge returns or profit by investing in the said company.
Based on the agency’s reports, Peak Finance is introducing casino investment, car leasing/financing, buy and sell properties and/or vehicles and crypto asset-related schemes.
Further, it was reported and as advertised on its website.
The entity promises investors the following:
- 25% interest from initial contribution in 35-45 days;
- 500% interest from initial contribution in one year for Cryptocurrency;
- 120% interest from initial contribution in 6 months for property lock-in;
- 80% interest from initial contribution in 3 months for property lock-in;
- 20% interest from initial contribution in 35-45 days; and
- 300% interest from initial contribution in one year for Cryptocurrency.
The company has their own website to promote such enticing offers.
As well as using their own Facebook page. The website and page are currently unavailable.
“The public is hereby informed that The Peak Finance, or The Peak Finance Consultancy Services is not registered with the commission and is not authorized to solicit investments from the public, for not having secured prior registration and license to sell securities or solicit investments as prescribed under Section 8 of the Securities Regulation Code (SRC),” the advisory stated.
The agency also added that individuals who act as middleman (salesmen, brokers, dealers or agents) of the said company in selling or persuading people to invest in the fraudulent scheme or recruiting the public especially investors through the internet may be held criminally liable under Section 28 of the Securities Regulation Code and penalized with a maximum fine of ₱5 million or imprisonment of twenty-one years or both in pursuant to Section 73 of the Securities Regulation Code.
In addition, the names of all those involved will be reported to the Bureau of Internal Revenue so that the appropriate penalties and taxes be correspondingly assessed.
The Commission has been actively issuing advisories to warn the investing public against fraudulent entities trying to entice the people with generous crypto offerings. Check out more SEC Advisories here.
Recently, the Securities and Exchange Commission joined a meeting that was attended by lawmakers, financial firms, and regulators, and discussed the Senate Bill 184 or the Digital Assets Act and Senate Resolution 126 on cryptocurrencies and other digital assets. SEC seeks for more laws to make the agency an effective regulator for virtual assets like cryptocurrencies (Read: SEC: Law Focusing on Digital Assets Needed).
THE PEAK FINANCE is introducing casino investment, car leasing/financing, buy and sell properties and/or vehicles and crypto asset-related schemes.
This article is published on BitPinas: SEC Warns Public Versus Peak Finance
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