SEC Alerts Public About Unauthorized Investment Schemes in the Philippines

The SEC has warned against several unauthorized entities including Dairy Farmers of America (DFA), Reigns Profit Sharing/Josan Paluwagan/Benta Slots, and others, operating illicit investment schemes without necessary licenses.
The entities offer high-return investment schemes with returns ranging from 1.9% to 120%, resembling pyramid or Ponzi structures. Their earnings primarily come from recruitment fees rather than genuine sales.
SEC is prosecuting 375 individuals for violating securities laws and has revoked Lodi Technologies Incorporated’s Certificate of Incorporation due to its involvement in unauthorized digital asset investments.

In a move to protect investors and uphold market integrity, the Securities and Exchange Commission (SEC) has issued a public warning against several unauthorized investment entities operating without the requisite licenses.

The entities caught in the SEC’s radar include Dairy Farmers of America (DFA), Reigns Profit Sharing/Josan Paluwagan/Benta Slots, PNJS Profit Sharing Benta-Slot/PNJS Benta Sahod/PNJS Finance/Variety-Store and Online Shop, and Infinity Success/Infinity Success Trading.

SEC Sounds the Alarm on Illegal Investment Operations

Dairy Farmers of America (DFA)

A fraudulent entity, masquerading as the legitimate Dairy Farmers of America – a farmer-owned milk marketing cooperative based in Kansas, USA, has been flagged by the SEC.

The fake DFA is enticing the public with unauthorized and illicit investments. The investment scheme, promising returns from 3% to 66% within a span of 1 to 30 days, revolves around the purchase of cattle for milking purposes.

Reigns Profit Sharing/Josan Paluwagan/Benta Slots

This entity promises high monetary rewards or profits such as 70% to 120% after just 30 days, without any definite operational plan or product sale strategy.

Investors are merely required to deposit money and anticipate lucrative returns on investment.

PNJS Profit Sharing Benta-Slot/PNJS Benta Sahod/PNJS Finance/Variety-Store and Online Shop

Operating under the name of one Joana Marie Molina Cabaddo, this entity is offering investments with a minimum of ₱1,000 per account, promising daily earnings of up to 1.9% for 30 days.

The claimed sources of revenue are varied, ranging from lending and financing activities to promising investors hefty returns on their contributions.

Infinity Success/Infinity Success Trading

Headed by a certain Al Sarif Hasan, Infinity Success presents itself as a team of professional traders promising to guide investors through safe trading. Investments ranging from ₱500.00 to ₱100,000.00 are accepted, promising earnings of 40% after just 7 days.

Recent SEC Actions: LodiTech’s Incorporation Certificate Revocation

The SEC has noted that these entities‘ investment schemes closely resemble pyramid or Ponzi schemes, where profits are primarily driven by recruitment fees instead of genuine product or service sales.

Through financial literacy campaigns and advisories, the SEC seeks to educate the public and encourage prudent investment decision-making. Currently, the SEC is prosecuting 375 individuals for violation of the Securities Regulation Code (SRC).

Recently, adding to the list of entities facing SEC‘s enforcement actions is Lodi Technologies Incorporated, also known as LodiTech. The Commission has revoked LodiTech’s Certificate of Incorporation owing to serious misrepresentation and violation of the Corporation Code of the Philippines. The company was found involved in unauthorized investment activities associated with a digital asset, LodiCoin.

This article is published on BitPinas: SEC Alerts Public About Unauthorized Investment Schemes in the Philippines

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