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The Commission has received complaints that a certain company, MY SCIENCE OF SUCCESS MARKETING, INC., also known as SOS, is engaged in collecting investments from the public in the minimum amount of Php that will yield an interest of Php 550.00 within four (4) days where recruitment of other investors to join in is merely optional. The company is allegedly operating in Laguna and Cavite area.
As part of the scheme of the company, products such as glutathione soap and a box of moringa coffee were given to investors for every investment of Php 1,610.00. Later on, investors no longer received the said products due to alleged lack of supply from its manufacturer. Likewise, the initial promise of return within 4 days was eventually stretched to longer periods from eight (8) days to fifteen (15) days, and then, to total nonpayment of the investments.
The introduction of consumer products to the investment scheme by the subject corporation is intended to create the appearance of a legitimate business of selling. It is apparent, however, that SOS is actually engaged in offering or selling of securities in the form of investment contracts, which requires a Secondary License issued by the Commission.
Records of the Commission reveal that SOS is not a licensed issuer of securities, neither does it have any pending application for issuance of a license or permit to sell securities. Absent said license or permit, its investment-taking activity is in violation of Sec. 8 of the Securities Regulation Code.
People who offer or sell investment products or securities without the necessary license may be held criminally liable, accordingly sanctioned or penalized, pursuant to the pronouncement of the Supreme Court in the case of SEC vs. Oudine Santos (GAR. No. 195542, March 19, 2014).
In view of the foregoing, the public is hereby advised to STOP INVESTING and RECRUITING other people to invest their money into this type of investment opportunity. Likewise, the public is advised to exercise due diligence and self-restraint in dealing with the company and/or any of its representatives, or with any other company offering the same type of scheme.
Should you have any information about the business operations of the subject corporation, please call the Enforcement and Investor Protection Department at telephone numbers 584-6047 and 584-0923 loc. 281.
Mandaluyong City, 26 July 2016