Another local company has become a subject of an advisory from the Securities and Exchange Commission for luring investors to invest in its frozen products and grow their money even when it does not have any permit for the purpose.
Based on the range of investments, “nvestors may earn up to 120% within the lock-in period of six months or 20% for every month.”
This system, the agency pointed out, constituted an “investment contract,” “a kind of security, exists when there is an investment or placement of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others.” Based on the SEC database, the entity was operating “without the necessary license and/or authority to solicit, accept or take investments placements from the public nor to issue investment contracts and other forms of securities defined under Section 3 of the Securities Regulation Code.”
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