Date Posted: 28 September 2015
The public is hereby warned concerning the investment-taking activities of STARNET LIFESTYLE GENERAL TRADING INC.
Per verification, STARNET LIFESTYLE GENERAL TRADING INC., with address at Unit A, Ground Floor, Karina Bldg., # 33 Shaw Blvd., Brgy. San Antonio, Pasig City is operating a multi-level marketing plan wherein an interested person must buy a minimum of one (1) package of personal care and wellness products worth P7,888, which is equivalent to one (1) account.
In its scheme, prospective members are actually encouraged to buy three (3) packages of products for a total amount of P23,644.00, equivalent to three (3) accounts. For the three accounts, the member automatically gets a 1,000 pesoreferral bonus for the first two (2) accounts and another 1 ,250.00 pairing bonus, for a total amount of P3,250.00. The member may simultaneously purchase 7 packages of products with a total amount of P55,216.OO. For the 7 packages, he gets 7 Accounts for which he will get a 6,000.00-peso referral bonus, (1,000 for each of the 6 slots) and the amount of 5,000 pairing bonus (1 ,250 for each of the four (4) pairs of slots). Thus, for the amount of P55,216.00, the member will get a total of PI 1 ,OOO.OO return of investment.
For the information of the public, STARNET LIFESTYLE GENERAL TRADING INC. is NOT AUTHORIZED to solicit investments from the public as it did not secure the necessary permit from this Commission as required under Section 8 of the Securities Regulation Code. Based on its Articles of Incorporation, it was formed only for the purpose of operating the business of trading and marketing of “tech products.” It is thus apparent that its purpose does NOT include the undertaking of investmenttaking activities.
Those who invite or recruit other people to join or invest in this 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 necessary precautions in dealing with the above-named entity and/or its representatives.
Should you have any information regarding the operation of this entity, please call the Enforcement and Investor Protection Department at telephone number: (02) 5847187