SEC Flags Down Frutas Comida Zamboanga for 20% Monthly Passive Interest Promise

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“This  ADVISORY  is  prompted  by  inquiries,  reports  and  information  received  by  the Commission  that  there  are  individuals  and/or  groups  of  persons  claiming  to  represent  an entity named FRUTAS COMIDA ZAMBOANGA, are enticing the public to invest their money in the said entity with a promise of high monetary rewards or purely passive 20% monthly interest.”

This is the content of the public advisory posted by the Securities and Exchange Commission (SEC) Enforcement and Investor Protection Department (SEC-EIPD) as the Commission found out that an entity known as Frutas Comida Zamboanga is promising a 20% monthly interest for those that will invest in the entity.

According to SEC, Frutas Comida Zamboanga is enticing the public to just invest in them, a minimum of ₱1,000.00, and earn a monthly interest without doing anything:

  • Investment: ₱1,000.00 ; Interest: ₱200.00
  • Investment: ₱5,000.00 ; Interest: ₱1,000.00
  • Investment: ₱10,000.00 ; Interest: ₱2,000.00
  • Investment: ₱20,000.00 ; Interest: ₱4,000.00
  • Investment: ₱30,000.00 ; Interest: ₱6,000.00
  • Investment: ₱40,000.00 ; Interest: ₱8,000.00
  • Investment: ₱50,000.00 ; Interest: ₱10,000.00

As to the collected information of the regulatory agency, the owner of the Frutas Comida Zamboanga allegedly distributes profits to member-investors from the sale of fruits and food tray packages. 

“Wala kayong dapat bilihin, ibenta o kahit anong anik anik, mas lalong WALANG RECRUITE na magaganap dito okay. Hindi ito 3rd party app o website na mag iinvest kau ng pera. Invest ur money to us and we will work for you and get your 20% TUBO SHARES after a month,” Frutas Comida Zamboanga promised in a post. 

[ “You do not need to buy anything, or sell anything, or whatsoever. There is also no recruitment scheme that happens here. This is not a 3rd party app or website where you should invest your money. Invest your money in us, and we will work for you. And get your 20% profit shares after a month.” ]

With this, the SEC concluded that the entity’s scheme involves the sale and offer of securities to the public in the form of investment contracts, whereby a person invests his money in a common enterprise and is led to expect profits primarily from the efforts of others.

“The public is hereby informed that based on an initial verification from the Commission’s database, FRUTAS COMIDA ZAMBOANGA is NOT registered with the Commission either as a corporation or partnership and is NOT AUTHORIZED TO SOLICIT INVESTMENTS from the public, not having secured prior registration and/or license to sell securities or solicit investments as prescribed under Section 8 of the Securities Regulation Code (SRC),” the regulatory agency stressed.

The regulatory agency also warned the individuals who claim to act as salesmen, brokers, dealers, or agents of FRUTAS COMIDA ZAMBOANGA in offering and/or selling or convincing people to invest in the investment scheme allegedly of the said entity, through the internet or any other means, may be held criminally liable under Section 28 of the SRC and penalized with a  maximum fine of  ₱5,000,000.00,  or imprisonment of 21 years, or both.

“In view thereof, the public is hereby advised to exercise caution in dealing with any individual or group of persons soliciting investments for and on behalf allegedly of FRUTAS COMIDA  ZAMBOANGA. The public is further advised NOT TO INVEST or to STOP INVESTING in the investment scheme being offered by any individuals claiming to represent said entity,” SEC concluded. 

This article is published on BitPinas: SEC Flags Down Frutas Comida Zamboanga for 20% Monthly Passive Interest Promise

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.

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