Date Posted: 17 March 2016
The Securities and Exchange Commission (‘Commission’) has received reports that STARJED MICRO FINANCING CORP, (also known as “STARJED”), based in Surigao City is engaged in investment-taking activities where one is enticed to invest certain large amounts of money up to Ten Million Pesos with a promised return of as much as 24% per annum, more or less with its Double Your Money in 3 Years Program and Monthly Payment of Interest.
AUTHORIZED $01icit from the public
STARJED MICRO FINANCING CORP aka STARJED is NOT as it did not secure the necessary permit from the Commission as required under Section 8 of the Securities Regulation Code. Based on iG Articles of Incorporation, it was formed only for the purpose of engaging in “general financing business … xxx”. Its authorized purposes do NOT include investment-taking 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, 15 March 2016