ALMASAI FINANCE AND INVESTMENT/ALMASAI EQUITY HOLDINGS CORP.
Posted 16 August 2018

SEC ADVISORY

The Commission has received information that Overseas Filipino Workers based in Dammam and Al Hassa in the eastern province of Saudi Arabia, who were recruited to join an NGO named SANGGUNIANG MASANG PILIPINO INTERNATIONAL (SMPII) INCORPORATED with office located at 504 EDSA, Barangay Socorro, Murphy, Cubao, Quezon City were enticed to invest with ALMASAI FINANCE AND INVESTMENT / ALMASAI EQUITY HOLDINGS CORP.  where a member of SMPII can place with ALMASAI FINANCE AND INVESTMENT / ALMASAI EQUITY HOLDINGS CORP.  a minimum investment of P50,000.00 that will yield 5% earnings per month.

The public is hereby warned concerning the investment taking activities of ALMASAI FINANCE AND INVESTMENT / ALMASAI EQUITY HOLDINGS CORP.

ALMASAI FINANCE AND INVESTMENT is not an SEC-registered entity as a corporation or as a partnership and was not also issued a secondary license as a broker and/or dealer of securities, dealer in government securities, investment adviser of an investment company, investment house and transfer agent.  It has not filed nor has any pending application for primary and secondary licenses with the Commission.

ALMASAI EQUITY HOLDINGS CORP., despite having been registered with the Commission as a corporation, is not authorized to solicit investments from the public as said entity has not secured the necessary secondary license or permit from the Commission as required under Sections 8 and 12 of the Securities Regulation Code (SRC). It is also engaged in ultra vires act for doing business not in accordance with its purpose of incorporation, which constitute serious misrepresentation as contemplated under Presidential Decree 902-A.

Consequently, those who act as salesman, brokers, dealers or agents of

ALMASAI FINANCE AND INVESTMENT / ALMASAI EQUITY HOLDINGS CORP. in selling or convincing people to invest in the investment scheme being offered by the above-mentioned entities, including solicitations or recruitment through the internet, may likewise be prosecuted and held criminally liable under Section 28 of the Securities Regulation Code and penalized with a maximum fine of Five Million Pesos (P5,000,000.00) or  penalty of twenty-one (21) years of imprisonment or both pursuant to Section 73 of the SRC.

In view thereof, the public is hereby advised to exercise self-restraint and caution or more prudently to stop investing their money into such investment activity and to take the necessary precautions in dealing with the above-named entities or its representatives.

The Commission urges anyone who has knowledge or information regarding the operation of these entities  or about any business transaction involving these securities or investment opportunities to report such activity immediately to the Commission so that appropriate measures can be taken through the Enforcement and Investor Protection Department at telephone numbers 818-6337 or 818-1898 or email address: epd@sec.gov.ph

10 August 2018.