Date Posted: 22 March 2017
Bullion Buyer
The Commission has received information that
an entity by the name of
BULLION BUYER
LTD.
is
operating in Baguio City organizing groups of people and inviting each coordinator to
recruit other beneficiaries. Those recruited are asked to pay
thirty pesos (php30.00)
in
exchange for receiving
TEN THOUSAND PESOS (php10,000.00) per month through their
Landbank ATM accounts for four (4) years and eleven (11) months starting February 2017
.
This also entitles them to a
grant of FIVE HUNDRED THOUSAND PESOS (php500,000.00) for
livelihood programs.
The public is hereby informed that
BULLION BUYER LTD.
is not registered with the
Commission as a corporation or partnership. There being no primary license, it is not authorized
to solicit investments which require a secondary license as provided under Sec. 8.1 of the
Securities Regulation Code.
The
law lik
ewise prohibits any person from engaging in the buying or selling of securities in the
Philippines as a broker or dealer or as a salesman or associated person of any broker or dealer
unless registered as such with the Commission (Sec. 28, SRC).
Accordin
gly, those who invite or recruit or convince people to join or invest in the venture or
offer investment contracts or securities to the public may be charged and held criminally liable
or accordingly sanctioned or penalized in accordance with the Supreme C
ourt decision in the
case of SEC vs. Oudine Santos [G.R. No. 195542, March 19, 2014].
In view thereof, the public is advised to STOP INVESTING in this kind of investment activity
which may turn out to be a fraudulent investment scheme
and to take the nece
ssary precautions
in dealing with the above
–
named entity and/or its representatives.
If you have invested money or were invited to invest in BULLION BUYER LTD., you may seek
the assistance of the
SEC
–
Extension Offices and/or
Enforcement and Investor Pro
tection
Department
(EIPD)
of the Securities and Exchange Commission with office address at the North
Wing Hall, Ground Floor, Secretariat Building, PICC Complex, Pasay City or you may call at
telephone number 818
–
5476