Date Posted: 13 November 2018
ORRO PLATTA MANNA
The Commission has received information that individuals or groups of persons representing Orro Platta Manna Corporationare enticing the public to invest in said entitysubject to the following compensation plan, to wit:Upon placement of Php 300,000.00 investment, a client will be given a brand new Toyota Vios with a promise of receiving the principal investment within two (2) months at 10% weekly interest;Upon placement of Php 200,000.00 investment, a client will be given a second-hand Vios as well as promise of receiving the principal investment within two (2) months at 20% weekly interest.Based on a news report from the Baguio Midland Courier, the office of Orro Platta Manna Corporationshas been padlocked by the Baguio City Hall for operating without a business permit and for presenting a Certificate of Registrationfrom the SEC that was issued to another entity.Based on the report from the Baguio City Police Office, they declared that the composite team of Police Station 2, City Investigation and Detection Management Unit and Intelligence Unit as well as personnel from the City Permit and Licensing Division of Baguio City effected the closure of the office of Orro Platta Manna Corporation for operating without a business Permit and forpresenting a registration from the SEC that was issued to another entity. It was further reported that the investors of Orro Platta Manna Corporationwere required to pay membership fees with a promise ofreceiving 20% weekly dividends from their investments.Despite the closure of its office, solicitation of investments can still be done by those representing Orro Platta Manna Corporationat a different location or through the internet.The public is hereby informed that Orro Platta Manna Corporationis not registered with the Commission as a corporation or partnership and is not authorized to solicit investments from the public as it has not secured prior registration and/or license to solicit investments from the Commission as prescribed under Section 8 of the Securities Regulation Code (SRC).Those who act as salesmen, brokers, dealers or agents of Orro Platta Manna Corporationin selling or convincing people to invest in the investment scheme being offered by Orro Platta Manna Corporationincluding solicitations or recruitment through 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 FiveMillion 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 with 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 correspondingly assessed. In view thereof, the public is hereby advised to refrain investing in these kinds of activities and to take the necessary precaution in dealing with Orro Platta Manna Corporationor its representatives. Should you have any information regarding the operation of the subject entity, please call the Enforcement andInvestor Protection Department at telephone numbers 818-6047 and 818-6337.For the guidance of the public