SEC Flags Investment Scams for SERP Worldwide and Sprhy Gold

The SEC advised the public to be wary of such investment schemes and to only invest in legitimate companies that are registered with the Commission.

SEC ADVISORY Philippines
  • The SEC flags investment scams and also issued two advisories on September 7, warning the public against investing in two schemes without proper SEC authorization.
  • SERP Worldwide, one of the schemes, entices investors with the promise of eliminating poverty through various investment packages, offering eight different earning methods.
  • Sprhy Gold Investment, the other scheme, was flagged for not having authorization to solicit investments from the public. This scheme offers various investment options and promises high returns within a short period.

The Securities and Exchange Commission (SEC) issued two advisories on September 7 against two investment schemes that entice the public to invest in their businesses without a license from the Commission.

SEC Flags Investment Scams

Secret For Elimination Of Rampan Poverty Worldwide Corporation (SERP Worldwide)

The Commission has flagged down SERP Worldwide for enticing the public to invest in their scheme. SERP Worldwide claims to eliminate poverty through various investment packages, requiring an initial payment of Php10,000 to become a member.

Upon purchasing the specified package, potential investors gain access to eight different earning methods within SERP Worldwide’s scheme. These include earning retail profits ranging from 30% to 60% on the company’s products through direct selling. Members can also earn ₱500 for each package their prospects purchase, with higher earnings for more packages sold. 

Moreover, a binary system operates for pairing sales bonuses, offering ₱1,000 for each pair created. Reorder rebates are tied to personal or group points accumulated through product purchases. Members can also earn up to ₱30 for all products their direct downlines purchase through uni-level sales bonuses. 

Further, the company also offers daily profit shares of ₱50 and overriding commissions of up to 10% on direct downline daily profit shares. Additionally, members are promised to receive royalty income after 15 years of participation in the scheme.

Accordingly, the SEC stressed that the investing public must exercise caution when considering investments with SERP Worldwide and its agents, as it offers unregistered securities in a scheme resembling a pyramid scheme. 

SEC Flags Investment Scams SECRET FOR ELIMINATION OF RAMPAN POVERTY WORLDWIDE
CORPORATION

Sprhy Gold Investment

The SEC alerted investors against Sprhy Gold Investment, which is not authorized to solicit investments from the public. the Commission said that the firm is enticing the public to invest in their scheme, Sprhy Gold Investment/Sprhy Cash Paluwagan, promising high profits. 

To participate in its “paluwagan”, the public are offered investment options varying from ₱5,000 to ₱500,000 yielding the possibility of generating returns between 15% and 30% within a 30-day period. 

Accordingly, the SEC highlighted that  Sprhy Gold Investment/Sprhy Cash Paluwagan is not registered and it operates without the necessary license or authority. Moreover, the Commission also noted that it is a Ponzi scheme— a scam that benefits top recruiters and early participants at the expense of later members.

The SEC advised the public to be wary of such investment schemes and to only invest in legitimate companies that are registered with the Commission.

Recent SEC Warnings

Last month, the SEC warned the public against White Dragon Investment Group and its leader, Justin Arvin Santos Atendido, for conducting illicit solicitations through social media where it claims to be involved in diverse sectors but has not been registered with the SEC.

There was also an advisory against B2B Trading Center OPC and its officers, stating that they lack authorization to solicit investments. The associated entity, Go Diamond.On-line Program, offers members seven income-earning avenues, including online/offline retail profit, commissions, and bonuses. 

For more SEC news and advisories, visit BitPinas

Other SEC News

Recently, the SEC announced its intention to adopt best practices from major Asian markets in order to introduce short selling in the Philippine Stock Exchange (PSE). The Commission noted that it has been preparing for this move since 2018, emphasizing the importance of proper guideline implementation and regular reporting.

In July, a roadshow was held in Manila to promote the capital market as a solution to the credit gap for MSMEs in the Philippines. Crowdfunding was highlighted as a convenient and suitable way for MSMEs to raise funds for expansion.

Commissioner Kelvin Lester Lee provided updates on the country’s crypto regulations, emphasizing investor protection, and revealed that the new name for the SEC’s cryptocurrency regulation is now “Digital Asset Security Service Providers Rules.”

This article is published on BitPinas: [Investor Alert] SEC Flags Investment Scams

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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