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The Securities and Exchange Commission (SEC) ordered Astrazion Noble Task Community Foundation, Astrazion Global Holdings Philippines Inc., and Astrazion International to stop its “Fraudulent Investment Scheme” after the Commission issued the Cease-and-Desist Order (CDO) against the entities earlier this month.
The CDO was issued after the SEC found out that Astrazion Group was operating an online multi-level marketing platform that sells its digital currency called “AZNT Token.”
“The Astrazion Group is proactively inviting and enticing the public to invest and earn passive income by purchasing AZNT Tokens which it claimed to have been created for the purpose of changing the lives of the Filipino people by providing them an opportunity to have an unlimited source of income, the chance to gain lucrative returns and the opportunity to live an improved lifestyle with the acquisition of a new house, a new car, to go on vacation trips and to become rich,” the order read.
In addition, the group promised the AZNT Token investors that its token will be registered and listed as a cryptocurrency at Coin Market Cap, and will be traded in the digital currency trading platform Binance.
The AZNT Token is also expected to reach a price of $10 from its current price of 10 cents.
With this, the SEC declared AZNT Token as securities in the form of investment contract.
“The commission agrees with the finding, and so holds that the Astrazion Group is engaged in the sale and/or offer of securities in the form of investment contracts… because it has no license to carry out the same,” SEC added.
Moreover, the investigator, the SEC Enforcement and Investor Protection (EIP) Department, also found out that the Astrazion Group was offering seven packages with guaranteed returns of 3 percent per day.
The starter package is worth $100 and could yield $300 in 100 days, while the double platinum package is worth $10,000 and could yield $30,000 during the same period.
The earnings of the investors can then be released through mobile e-wallet Coins.ph.
The CDO was also issued to the Astrazion Group’s operators, directors, and officers, including Napoleon dela Cruz Visperas, Remus Pedroso Salgado, Joan Ganancial, Rolando Cadelario Oso, Francisco Gadayan Baladjay Jr., Pierre Martin Reyes, Esther Weigand, and Carol Joy Balbuena Visperas, as well as its representatives, salesmen, agents, uplines, influencers, and enablers such as Christopher “Toffy” Dimaguila.
“Premises considered, Astrazion Noble Task Community Foundation, Astrazion Global Holdings Philippines, Inc., and Astrazion International… are hereby ordered to IMMEDIATELY CEASE AND DESIST from engaging in the unlawful/unauthorized solicitation, offer and/or sale of securities in the form of investment contracts or any others of the same nature, as discussed in this Cease and Desist Order, until the requisite registration statement is duly filed with and approved by the Commission,” the Commission concluded.
Similarly, SEC issued an advisory against Sengre and its Crypto Coin Scheme.
This article is published on BitPinas: SEC Issues Cease and Desist Order Against Astrazion Group, AZNT Token