SEC Issues Cease and Desist Order Against Crypto Marketers
The company, led by Michael Viola, offered subscription packages with high returns, prompting investigations and warnings from regulatory authorities.
The company, led by Michael Viola, offered subscription packages with high returns, prompting investigations and warnings from regulatory authorities.
SEC issues a warning on the ‘Advance Fee Scam,’ advising the public to stay alert to fake loan offers requiring upfront payments.
Despite warnings and investigations revealing its lack of necessary permits and licenses, CryptoAsset continued its unauthorized offering of investment securities to the public, resulting in legal action by the SEC.
Beware of the ‘Recharging and Tasking Scam’: SEC warns against fraudulent schemes enticing investments through fake e-commerce platforms, posing as reputable companies.
SEC warns against BNY PAL and One 1Key Progress Booster, cautioning the public on suspicious solicitations lacking proper licensing.
The Commission cited the reports and information compiled, noting that PECADO, led by President Eliseo Jojo Prisno, is enticing the public to invest in the platform’s digital assets.
The following entities are enticing the public to invest without the necessary registration requirements from the SEC.
Those who will act as salesmen, brokers, dealers or agents, representatives, promoters, uplines, recruiters, influencers, endorsers, and enablers of Solace PH. — SEC
The SEC tagged OctaFX, Binance, Kito-Kiko Variety Shop, and House of Forex for operating in the country without proper licenses.
“But as a lawyer, I feel obliged to echo the advisory of SEC. And it should not matter whether it is a cease-and-desist order, the advisory is clear and we should take heed of that.”