SEC Facebook

The Commission has received information that individuals or groups of persons
representing
Extreme Hataw Enterprises
are enticing the public to invest in what is obviously a
“Ponzi Scheme”
in the guise of
“Online Paluwagan”
or
“Onpal”.
Based on report received from
the public, Extreme Hataw Enterprises
is an entity engaged in
Online Paluwagan
scheme
in which
potential m
embers are required to give 300 pesos investment.
In its Facebook Account,
Extreme Hataw Enterprises
claimed that their operation is
legitimate and have been in operation since 2015. They further announced that they are registered
with the Department of Trade and Industry and was founded by Ms. Jenefer Lim Tuazon. In the
same Facebook Account,
Extreme Ha
taw Enterprises
is
inviting
the public to join them, promising
prospective members that they may become a cellphone load dealer for all networks and will have
a lifetime income for only 300 pesos investment.
In
the facebook account
of one of
the
Extreme
Hataw Enterprises
associate
,
the latter
is
enticing
the public to join the
said entity
with a
promise of turning their 300
pesos investment
into
10,000
pesos, subject to the following compensation plan, to wit:
1.
1 slot (Php 300 pay in) + 2 invites = Php
10,000.00 pay out;
2.
1 slot (Php 300 pay in) + 1 invite = Php 6,500.00 pay out;
3.
1 slot (Php 300 pay in) + o invite = Php 3,500.00 pay out
In the same Facebook Account, it was posted and announced
that
Extreme Hataw
Enterprises
is registered with the DTI and is the longest operating online paluwagan.
The public is hereby informed that
Extreme Hataw Enterprises
is not registered with the
Commission as a corporation or partnership and is not authorized to solicit investments from the
public, not having secured prior registration and/or license to solicit investment as prescribed
under Section 8 of the Securities
Regulation Code (SRC).
Those who act as salesmen, brokers, dealers or agents of
Extreme Hataw Enterprises
in
selling or convincing people to invest in the investment scheme being offered by
Extreme Hataw
Enterprises
including solicitations or recruitment t
hrough the internet may likewise be prosecuted
and held criminally liable under Section 28 of the Securities Regulation Code and penalized with a
maximum fine of Five Million pesos (P5,000,000.00) or imprisonment of Twenty One (21) years or
both pursuant
to Section 73 of the SRC.
Accordingly, 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 w
ith the Supreme Court decision in the case of SEC vs.
Oudine Santos (G.R. No. 195542, March 19, 2014).
Furthermore, the names of all those involved will be reported to the Bureau of Internal
Revenue (BIR) so that the appropriate penalties and/or taxes be c
orrespondingly assessed.
In view thereof, the public is hereby advised to exercise prudence before investing in these
kinds of activities and to take the necessary precaution in dealing with
Extreme Hataw
Enterprises
or its
representatives.
Should you have any information regarding the operation of the subject entity, please call
the Enforcement and Investor Protection Department at telephone numbers 818
–
6047.
For the guidance of the public