Affinity Investment Group Posted 28 July 2016

SEC ADVISORY 

ON

 

AFFINITY INVESTMENT GROUP

July 4, 2016

The public is hereby warned concerning the investment taking activities of a group calling itself the AFFINITY INVESTMENT GROUP operating in Barrio Barreto, Olongapo City.

Based on information gathered from interviews conducted by the PNP Regional Office 3 with alleged victims whose identities were known through the AFFINITY INVESTMENT GROUP account posted through FACEBOOK, sometime in July 2015, individuals joined the group by way of invitations from common friends and co-workers at the Our Lady of Lourdes International Medical Center located along National Highway, Brgy. Barreto, Olongapo City and were subsequently enticed to invest with the promise of big profits.  Some investors joined through invites from the Facebook page of the AFFINITY INVESTMENT GROUP.  The scheme starts when an investor makes a “pay-in” of Php650 with a proposed pay-out of Php1,950 or triple the amount of investment.  The investor was then required to recruit two or more investors to avail of the pay-out amount.  Each recruit then follows the same pattern completing a pyramid type of set-up.

The said AFFINITY INVESTMENT GROUP has likewise posted messages on its FACEBOOK page addressed to what it claims its more than 6,000 investors.

Those who invite or recruit people to join or invest in the venture or offer investment contracts or securities to the public may be 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 and to take the necessary precautions in dealing with the above-named entity and/or its representatives.

Should you have any information regarding the operations of AFFINITY INVESTMENT GROUP, please call the Enforcement and investor Protection Department at telephone number: (02)584-7187.