Date Posted: 12 September 2018
This ADVISORY is prompted by inquiriesand reports to the Commission thatPHILCROWD.COMis soliciting investments wherein investors paid Two Thousand Five Hundred Pesos (Php2,500.00)as membership fee and become eligible to fund any business they like –from agribusinesses, food franchises, energy, real estate and more. Target returns can range from Five to Fifty Percent (5-50%). Payment of return of investment is done through direct bank deposit or fund transfer to: Banco de Oro –Idea School and BPI –Michael Caya. The public is hereby informed that based on the records of the Commission,. PHILCROWD.COM.,is not registered with the Commission as a corporation and/orpartnership and is not authorized to solicit investments from the public as it has not securedthe necessary license or permit from the SEC as required under Section 8 of the Securities Regulation Code (SRC). The public is hereby warned that such investment schemes whether with the useof money or virtual currencies such as bitcoin, etherium, ripple, dash, litecoin, monero, SIBcoin, mooncoin and many others are considered as securities subject to the regulatory authority of this Commission. The recruitment of investor members under theguise of sponsoring a person into the system is likewise considered a form of investment solicitation which requires a permit or license from the Commission.Those who act as salesmen, brokers, dealers, or agents of PHILCROWD.COM.,in selling or convincing people to invest in the investment scheme being offered byPHILCROWD.COM.,.including doing 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 FIVE MILLION (P5,000,000.00) PESOS or a maximum penalty of TWENTY ONE (21) years imprisonment 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 of the foregoing, the public is hereby advisedtoexercise self-restraint from investing their money into such high-yield high-risk investment scheme and to take the necessary precaution in dealing with individuals representing the above-named entity.
Should you have any information about the business operations of PHILCROWD.COM.,please call the Enforcement and Investor Protection Department at telephone numbers 818-6047.For the guidance of the public