The Securities and Exchange Commission (SEC) has cancelled the corporate registrations of Koen Solutions OPC and Phil Maritime and Ocean Institute of Technology, Inc. for illegally soliciting investments from the public.
In an order dated November 28, the SEC Enforcement and Investor Protection Department (EIPD) revoked the registration of Koen Solutions as a one person corporation (OPC) for violation of the Revised Corporation Code (RCC) and the Securities Regulation Code (SRC).
Investigations by the EIPD show that Koen Solutions has been inviting the public to invest in its app for a guaranteed daily income of 2.5 percent to 3 percent, or monthly income of 75 percent to 90 percent, depending on the “financial trading robots” that they choose to invest in.
The robots supposedly search for and trade cryptocurrencies that could bring stable profits to investors.
The SEC has issued an advisory against Koen Solutions as early as September 9, 2022, directing the group to stop soliciting investments from the public until it has secured the necessary license to do so.
However, the group continued to sell and offer investments to the public, claiming on social media that it has submitted the necessary documents for the application of a secondary license to the SEC.
“Considering that nowhere is it stated in its primary purpose that Koen Solutions OPC is authorized the engaged in the selling or offering for sale of securities to the public, the activity of Koen Solutions…
