5% Daily Profit? SEC Flags Down Oriental Peak Mining’s Online Investment Scheme

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Editing by Nathaniel Cajuday

  • The SEC has issued a public advisory against Oriental Peak Mining and its president, Ranillo Paz for issuing unregistered investment solicitations.
  • As per the Commission’s investigation, with an investment fund of ₱500.00 to ₱1,000,000.00, the entity is promising a: 
    • guaranteed daily profit of 5% for 60 days, or a total earning of 300% in just 60 days.
    • guaranteed daily profit of 5% for 45 days, or a total of 225% in just 45 days. 
    • 15-day payout, in which funds invested will be doubled in just 15 days.

Despite the increasing number of scam reports and the continuous reminders from the regulators in the country to be wary of unauthorized investment solicitations, entities committing such illegal activities are still active to date.

In an advisory, the Securities and Exchange Commission (SEC) warned the public against 

Oriental Peak Mining and the individuals offering investments under the latter’s name, especially a certain Ranillo Paz, who presents himself as the firm’s president. 

According to the Commission, the entity is an unregistered entity purportedly engaged in nickel mining operations and soliciting investments from the public, noting that Oriental Peak Mining is enticing the public to invest online or through the internet by paying an amount ranging from ₱500 to ₱1,000,000 with a guaranteed daily profit of 5% for 60 days, or a total earning of 300% in just 60 days. 

In addition, the already enticing offer was later modified to a more enticing daily profit of 5% for 45 days, or a total of 225% in just 45 days. The entity also provides a 15-day payout, in which funds invested will be doubled in just 15 days.

“In the initial assessment of the activities of ORIENTAL PEAK MINING, it appears that the said unregistered entity is engaged in fraudulent transactions and in the solicitation, offering, and/or selling of unregistered securities from the public in the form of investment contract without the necessary license in violation of Sections 8, 12, and 28 of the Securities Regulation Code (SRC),” the regulatory agency explained.

Accordingly, the SEC stressed that individuals and entities are liable for strict penalties imposed for violations of the Securities Regulation Code, the Revised Corporation Code of the Philippines, and such other laws, rules, and regulations enforced by the Commission.

“Those who act as salesmen, brokers, dealers, or agents of ORIENTAL PEAK MINING, vis-à-vis RANILLO PAZ, in selling or convincing people to invest in what appears to be an investment scheme being offered by the said entity, including solicitations and recruitment through the internet, may be prosecuted and held criminally liable under Section 28 of the SRC and penalized with a maximum fine of Five Million pesos (Php5,000,000.00) or penalty of Twenty-one (21) years of imprisonment or both pursuant to Section 73 of the SRC (G.R. No. 195542, 19 March 2014),” the Commission highlighted. 

Consequently, the SEC cautioned the public to be cautious when dealing with Oriental Peak Mining, its president, Ranillo Paz, and other individuals/groups of people offering investments under its name, reminding the public to practice due diligence first if they want to engage in investing in an entity.

Recently, the latest advisory from the SEC addressed to mobile application Lele Gold has made the said entity cease its operations. The Facebook post published by BitPinas regarding the news has been flooded by netizens sharing their thoughts concerning the advisory; comments appear divided, with some expressing surprise and disappointment, while others claim to have known about the scheme’s fraudulent nature. 

In an exclusive response to BitPinas, the SEC clarified that, though there is no direct advisory against streamers, content creators, and social media personalities allegedly involved in the promotion of an unregistered project, these influencers and promoters can still be held liable when proven. 

This article is published on BitPinas: 5% Daily Profit? SEC Flags Down Oriental Peak Mining’s Online Investment Scheme

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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