Bullion Buyer Ltd. Posted 22 March 2017

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 ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT

SEC ADVISORY

March 8, 2017

 

The Commission has received information that an entity by the name of BULLION BUYER LTD. is operating in Baguio City organizing groups of people and inviting each coordinator to recruit other beneficiaries.  Those recruited are asked to pay thirty pesos (php30.00) in exchange for receiving TEN THOUSAND PESOS (php10,000.00) per month through their Landbank ATM accounts for four (4) years and eleven (11) months starting February 2017.  This also entitles them to a grant of FIVE HUNDRED THOUSAND PESOS (php500,000.00) for livelihood programs.

The public is hereby informed that BULLION BUYER LTD. is not registered with the Commission as a corporation or partnership. There being no primary license, it is not authorized to solicit investments which require a secondary license as provided under Sec. 8.1 of the Securities Regulation Code.

The law likewise prohibits any person from engaging in the buying or selling of securities in the Philippines as a broker or dealer or as a salesman or associated person of any broker or dealer unless registered as such with the Commission (Sec. 28, SRC).

Accordingly, those who invite or recruit or convince people to join or invest in the venture or offer investment contracts or securities to the public may be charged and held criminally liable or accordingly sanctioned or penalized in accordance with the Supreme Court decision in the case of SEC vs. Oudine Santos [G.R. No. 195542, March 19, 2014].

In view thereof, the public is advised to STOP INVESTING in this kind of investment activity which may turn out to be a fraudulent investment scheme and to take the necessary precautions in dealing with the above-named entity and/or its representatives.

If you have invested money or were invited to invest in BULLION BUYER LTD., you may seek the assistance of the SEC – Extension Offices and/or Enforcement and Investor Protection Department (EIPD) of the Securities and Exchange Commission with office address at the North Wing Hall, Ground Floor, Secretariat Building, PICC Complex, Pasay City or you may call at telephone number 818-5476.

 

8 March 2017