The Philippines Securities and Exchange Commission (SEC) released a public advisory against Genius Trading Corporation (GC8) led by “Gio Mark Castro Medalla,” which is engaged in investment solicitation activities.
According to the SEC, the said investment schemes are enticing the public to invest, promising that they will turn P5,000 into P8,000 in just 3 days or a total of 160% profit in just 3 days.
Genius Trading Corporation (GC8) is not a one-man team as it is also promoted by other individuals named Maha Cortez a.k.a Hani Cortez Tolentino and Elsie Mendoza Hernandez.
As per SEC records, Genius Trading Corporation (GC8) is not registered with the Commission as a corporation of partnership. It is, however, registered under the Department of Trade and Industry (DTI) so it is not authorized to use the words “corporation”, Incorporation”, “Corp.”, and “Inc.” in its business name registrations and neither can be allowed to solicit any investments from the public as prescribed under Section 8 of the Securities Regulation Code (SRC).
The Philippines Securities and Exchange Commission (SEC) is warning the public to not invest in Genius Trading Corporation (GC8) because such offering and selling of securities to the public without proper permit and licenses is a violation of Section 8.1 of Securities Regulation Code (SRC).
Further, those people who invite or recruit other people to join and invest on Genius Trading Corporation (GC8) investment schemes may be held criminally liable under Section 28 of the SRC and can be penalized with a maximum fine of Five Million Pesos (P5,000,000) or imprisonment of Twenty one (21) years or both pursuant to Section 73 of the SRC.
SEC is also requesting the public to report or call the Enforcement and Investor Protection Department on the following numbers if you have any information regarding the operations of Genius Trading Corporation (GC8): 8818-6047 or send your report to the EIPD at email@example.com.
This article is published on BitPinas: SEC Advisory Against Genius Trading Corporation (GC8)