Date Posted: 31 May 2016
The public is hereby warned concerning the investment taking activities of SHOPPERS’ CIRCLE, a business brand adopted by Jmatth General Merchandise.
‘MATTH GENERAL MERCHANDISE is a sole proprietorship registered with the Department of Trade and Industry (DTI) with DTI certificate number 03568191 issued on April 25, 2015 under the name of John P. Josol with address at Talomo (Poblacion), Davao City, Province of Davao del Sur. It is purportedly engaged in the retail and wholesale of general merchandise that focuses in ready-to-wear items, footaear, bags and all other types of merchandise under the tradename, Shoppers’ Circle.
Shoppers’ Circle employs a Rewards Cycle System for shoppers/members. The minimum purchase package to qualify as member is PI,IOO.OO. No product will be given to the member after making an investment payment of a minimum of PI,IOO.OO, however, the money given is equivalent to one Shopping Budget Unit (SBU). The minimum cash placement of PI,IOO.OO is already considered as a purchase although no product will be given after paying the PI,IOO.OO. One SBIJ is entitled to a Group Sales Rebate (GSR) of P200.OO cash and Shopping Privilege Points (SPP) of PI,IOO.OO per cycle (equivalent to one month). The Shopping Privilege Points (SPP) can be used to shop for PI,IOO.OO worth of products from the company’s store for free, or the member may opt to convert it instead to 250 points which he can accumulate to avail of special items of higher value such as laptops, cars, appliances, gadgets, etc.
A member continues to enjoy these rewards for a period of one (1) year or in uelve (12) cycles or 12 months. The waiting period for each cycle is from 15 to 30 days.
For a minimum payment of PI,IOO.OO, a member expects to receive P2,400.00 GSR or cash rebates plus SPP or free shopping worth P13,200.00 from the company’s store, or a total of P15,600.00 benefits after 12 cycles or 1 year. Furthermore, the establishment engages in referral or recruitment scheme whereby for every PI,IOO.OO investment referral, the recruiter is entitled to a P50.OO cash as referral incentive fee.
For the information of the public, ‘MATTH GENERAL MERCHANDISE under the tradename SHOPPERS’ CIRCLE is not authorized to solicit investments from the public as it has no necessary permit from this Commission as required under Section 8 of the Securities Regulation Code (SRC).
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 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 necessary precautions in dealing with the above-named entity and/or its representatives.
Should you have information regarding the operation of this entity, please call the Enforcement and Investor Protection Department (EIPD) at telephone number (02) 584-76-52