The Securities and Exchange Commission has issued advisories to warn the public not to invest their hard-earned money in three firms that are soliciting investments without the necessary permits from the regulator.
Based on reports and information it gathered, the corporate watchdog issued warnings against investing with Trading Cartel, FDMS Business and Marketing Solutions Inc., and the Lele Gold Farm group or their representatives.
The SEC said that, a verification of reports against Trading Cartel showed that certain individuals affiliated with the Trading Cartel are offering an investment scheme where they promise a return of as much as 5 percent to 10 percent monthly interest.
“For the information of the public, TRADING CARTEL is not registered with the Commission as a corporation or partnership nor is it authorized to solicit investments from the public since it has not secured prior registration and/or license from the Commission as prescribed under Sections 8 and 28 of the Securities Regulation Code,” said the SEC.
The SEC said FDMS Business and Marketing Solutions by Frederick Bahalla Sabater, Marlon Salvador Adriano, Mylene Balayan Cureg, Daniel Dela Cruz Sta. Rita and Ronaldo Dizon Villena is also soliciting investments without the necessary license or authority from the commission.
FDMS, under its so-called Affiliate Learning Program, is offering investment plans through its Ride Trade Investment packages, namely: Pre-Subscription, Basic Subscription and…
