Date Posted: 22 January 2016
Techno Innovation
The Securities and Exchange Commission has received complaints that TECHNO
INOVATION MARKETING ENTERPRISE CORPORATION (also known as TIME CORPORATION) is engaged in illegal solicitation of investments by enticing the public to invest in its Dealership Program for a minimum amount of Two Thousand Five Hundred Pesos (P2,500.00) for a promise of 40% return/profit of One Thousand Pesos within a fifteen (15) day period plus other commissions or rewards including direct referra/ fee of PIOO.OO, a gift certificate worth P200.00 and a chance to become authorized dealer of mobile phone loads for all mobile/telecommunication networks.
Because of the alleged promises of TIME CORPORATION, a group of investors were enticed to participate and numerous members were recruited to join the dealership program of said entity. Through its massive recruitment and solicitation, TIME CORPORATION has generated a large sum of investment. However, TIME CORPORATION has failed to give the profits it promised to its investors as well as the principal amount of investment.
Per verification, TIME CORPORATION is not authorized to solicit investments from the public as it did not secure prior registration and/or license or permit to solicit investments from the Commission as required under Section 8.1 of the Securities Regulation Code.
Those who invite or recruit other people to join or invest in this venture or other 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 hereby advised to STOP investing and recruiting other people to invest money into such scheme and to take the necessary precautions in dealing with the above-named entity and 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.
19 January 2016, Mandaluyong City