The Securities and Exchange Commission alerts of additional organizations exhibiting traits of a Ponzi scheme.

The SEC has raised concerns about three organizations that are seeking investments from the public without proper registration.

The corporate regulator has issued three advisories stating that 888 Partners Corp., Budgetarian Online Shop, Integrated Digital Success, and Hailey & Hollyn Spa do not have authorization to seek investments from the general public.

The Securities and Exchange Commission states that 888 Partners Corp. Budgetarian Online Shop asserts itself as the biggest e-commerce platform in the Philippines, with its primary partner merchants being from Amazon, Lazada, and Shopee.

888 Partners hires remote workers to buy products from online shopping websites on behalf of merchants, with the goal of boosting their store’s perceived ranking and attracting more potential customers.

The organization provides investment opportunities starting at P500 and guarantees a return of 5% from direct referrals, as well as a minimum daily salary of P500. The regulatory body has raised concerns about the entity’s investment plan, citing its resemblance to a Ponzi scheme where funds from new investors are used to pay false profits to earlier investors.

The platform stated that its merchants will pay a fee for every order, followed by a 10% service fee charged by the platform. The remaining fee will then be given back to members, with more members receiving greater benefits from the platform.

According to the SEC, the organization promotes two investment programs, “starter” and “elite,” in order to attract online investors for Integrated Digital Success.

The initial package offers a guaranteed 20% profit within a week for investments between P500 and P200,000, while the premium package guarantees a 50% profit after 15 days for investments ranging from P1,000 to P500,000.

The company asserts that the funds are overseen by experienced traders and asset managers. It was flagged for exhibiting traits of a fraudulent investment scheme.

The Securities and Exchange Commission stated that Integrated Digital Success also provides an affiliate bonus and leadership bonus totaling 10% of the investment received from the referrals made by its members.

In the meantime, the Securities and Exchange Commission has announced that Hailey & Hollyn Spa is seeking investments starting at P50,000, to be allocated towards expanding their branches.   

The company guarantees a monthly profit of 5% to 10% and a return on investment after 12 months.

The Securities and Exchange Commission stated that the organization has not registered with the commission as a company, sole proprietorship, or partnership. They also have not been granted a license or permit by the commission to sell or offer securities to the public or engage in any activities regulated by the commission. – Revin Mikhael D. Ochave