The Securities and Exchange Commission has identified three additional organizations, one of which is posing as a US company.
The SEC has issued a warning to the public about three organizations that have been soliciting investments without proper registration.
The SEC has issued three advisories regarding Morgan Stanley Investment Firm, Hope Financial Marketing OPC, and Multi-Asset Solution, stating that these entities do not have permission to seek investments.
According to the corporate regulator, it has been reported that the Morgan Stanley Investment Firm Elinyapp/Eliny-Ph.com/Eliny App is luring individuals to invest in their company, which may be posing as the reputable American financial services firm, Morgan Stanley.
The company provides opportunities for investments ranging from P500 to P1,500, with a promised daily profit of 50%, a 10% share from referrals, and a minimum salary of P350 to P6,500. However, the regulator claims that this resembles a Ponzi scheme, where money from new investors is used to pay off “fake profits” to previous investors.
The Securities and Exchange Commission (SEC) stated that individuals from other countries may be accountable for the scam, as the entity’s posts and marketing materials referenced the “Philippine financial department” and “Ministry of Finance.”
According to the SEC, the organization states on the internet that it is a mobile application owned by Morgan Stanley. The app offers immediate investment opportunities based on the port container shipping index. The entity also asserts that it is the initial policy launched by the Philippine Financial Department to aid in the swift recovery of the country’s economy.
The corporate regulator stated that this is the initial policy established by Morgan Stanley when they expanded into the Philippines, which aims to provide benefits to the public. They claim that it is both lawful and secure, and will have a lasting impact on the Filipino population by helping them grow their finances.
According to a statement from the SEC, Rizalyn Lopez, doing business as HOPE Advertisement Marketing/HOPE Financial Marketing OPC, is reportedly promoting online investments with amounts ranging from P1,000 to P50,000 for various plans.
The company provides four options, including short-term, long-term, lock-in contract, and monthly profit sharing, which guarantee profits ranging from 20% in eight days to 160% in 40 days.
The profit-sharing plan, which is offered monthly, guarantees a 40% profit for five months and a 140% profit for the sixth month. In addition to this, the plan offers referral commissions and royalty rewards.
The SEC reported that Multi-Asset Solutions (MAS), Multi-Asset Financial Consultancy Services, JBF, and Gainz Philippines Founder and Julie May Velasco Vergara are suspected of promoting three investment options: starter (7 days), standard (15 days), and superior (25 days).
The regulatory body states that the company is seeking investments for activities including renting heavy equipment, trading cryptocurrency, financing VIP casino services, and developing land.
The entity promises a guaranteed profit from 30% to 200% after an investment ranging from P500 to P500,000, as well as a referral bonus equivalent to 10% of the investments received from referrals. — Revin Mikhael D. Ochave