Date Posted: 21 October 2015
DIRECT MARKETING GROUP
The Commission issues this advisory upon confirmation of reports that the above-named entity is engaged in investment-taking at Blk 1 Lot 1, Matrix Ville Subd., Camarin Road, Caloocan City. The entity also claims to be operating in Baguio City, Kalinga, Marilao and other parts of the country.
Under it profit-making scheme called ACCELERATE, DMG INTERNATIONAL entices people to invest at least P 1000.00 and guarantees a return of P200.00 (20%) on the 11th day. In addition, for every PIOOO.OO invested, 3 kilograms of rice is given to the investors every 10 days. On an the investors may engage in direct selling of consumer products but this option is discouraged in favor of the first option.
ACCELERATE is a typical PONZI scheme, where the entity has no viable business operation and the earlier investors, who were promised high returns, are paid from funds collected from new investors. As such, this investment cannot be registered by the SEC.
Corollarily, none of its officers, uplines, recruiters, sellers or agents has been issued a license to act as certified solicitor, investment adviser, broker and dealer in securities or salespersons of broker or dealer in securities as required by law.
The public is hereby advised to STOP INVESTING in the said entity and to exercise caution in dealing with its officers and promoters.
16 October 2015, Mandaluyong City
The Commission issues this advisory upon confirmation of reports that the above-named entity is engaged in investment-taking at Blk 1 Lot 1, Matrix Ville Subd., Camarin Road, Caloocan City. The entity also claims to be operating in Baguio City, Kalinga, Marilao and other parts of the country.
Under it profit-making scheme called ACCELERATE, DMG INTERNATIONAL entices people to invest at least P 1000.00 and guarantees a return of P200.00 (20%) on the 11th day. In addition, for every PIOOO.OO invested, 3 kilograms of rice is given to the investors every 10 days. On an the investors may engage in direct selling of consumer products but this option is discouraged in favor of the first option.
ACCELERATE is a typical PONZI scheme, where the entity has no viable business operation and the earlier investors, who were promised high returns, are paid from funds collected from new investors. As such, this investment cannot be registered by the SEC.
Corollarily, none of its officers, uplines, recruiters, sellers or agents has been issued a license to act as certified solicitor, investment adviser, broker and dealer in securities or salespersons of broker or dealer in securities as required by law.
The public is hereby advised to STOP INVESTING in the said entity and to exercise caution in dealing with its officers and promoters.
16 October 2015, Mandaluyong City