Date Posted: 31 May 2016
The Securities and Exchange Commission (“Commission”) has received reports that PEDVEL MARKETING / PV AND W POTENTIAL DEVELOPMENT VENTURES CORPORATION / POTENTIAL ECONOMIC VENTURE CONSUMERS COOPERATIVE (also known as “PEDVEL”) is engaged in investment-taking activities where one is promised to earn returns of 27.5% in a span of 36 days. Each “package” is worth Two Thousand Pesos (2, 000.00Php), where the “member” gets to choose from among the product packages of the company plus 3 cash pay-outs of 850.00Php scheduled to be received within 36 days. The first pay-out to be received 14 days from the date of the receipt of the cash investment, then the second and third pay-outs to be received at 11 days interval, a total of 36 days.
PEDVEL MARKETING / PV AND W POTENTIAL DEVELOPMENT VENTURES CORPORATION aka PEDVEL is NOT AUTHORIZED to solicit investments from the public as it did not secure the necessary permit from the Commission as required under Sections 8 and 28 of the Securities Regulation Code.
Based on its Articles of Incorporation, it was formed only for the purpose of engaging on “the business of buying, selling, distributing, marketing at wholesale and retail … all kinds of goods, commodities, wares and merchandise of every kind and description … Its authorized purposes do NOT include investmenttaking activities. Moreover, its incorporators are not licensed to solicit investments.
Those who invite or recruit other people to join or invest in this venture or offer investment contract 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 v Oudine Santos [G.R. No. 195542, March 19, 2014].
In view thereof, the public is hereby advised to exercise self-restraint and caution or more prudently to STOP INVESTING their money into such investment activity and to take the necessary precautions in dealing with the above entity and/or its representatives.
Should you have any information regarding the operation of said entity, please call the Enforcement and Investor Protection Department at Telephone numbers 584-7187 or 584-7652.
Mandaluyong City, 24 May 2016