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FINANCING INTERNATIONAL-CASINO and/or CASINO VIP FINANCING BY CATHLYNE PAPASIN and/or CASINO VIP FINANCING and/or FORTUNE DRAGON CASINO FINANCING

Date Posted: 12 November 2019

FINANCING INTERNATIONAL-CASINO

FINANCING INTERNATIONAL-CASINO

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The Commission has received information regarding the activities ofFINANCING INTERNATIONAL-CASINO and/orCASINO VIP FINANCING BY CATHLYNE PAPASIN and/orCASINO VIP FINANCING and/orFORTUNE DRAGON CASINO FINANCING(hereinafter referred as CASINO FINANCING).Based on the information gathered by the Commission,CASINO FINANCINGhas been enticing the public to invest their money in said entitieswherein they could earn as much as 5%-7% monthly interest and promises passive income to investors. The minimum investment required by CASINO FINANCINGis One Hundred Thousand Pesos (₱100,000.00)while the maximum investment is Five Million Pesos (₱5,000,000.00)with a lock-in period of twelve (12) months.Allegedly, these investments will be utilized in casino financing through their “boss” who is an authorized Agent/Financier working for the casino VIP junkets. CASINO FINANCINGassures their investors that their operation is legitimate and that theirinvestment is secured since they will be issued with notarized Investment Contract and/or Memorandum of Agreement signed by their “boss”and post-dated checks as proof of investment.The public is hereby informed that FINANCING INTERNATIONAL-CASINO (FINANCING INTERNATIONAL) and/orCASINO VIP FINANCING BY CATHLYNE PAPASIN and/orCASINO VIP FINANCING (CASINO FINANCING)and/orFORTUNE DRAGON CASINO FINANCING (FORTUNE DRAGON) are notregistered with the Commission as corporationsor partnershipsnor are they authorized to solicit investments from the public since they have not secured prior registration and/or license from the Commission as prescribed under Sections8 and 28 of the Securities Regulation Code (SRC).Those who act as salesmen, brokers, dealers or agents of CASINO FINANCINGin selling or convincing people to invest in the investment scheme being offered by these entities including solicitations and recruitment through the internet may likewise be prosecuted and held criminally liable under Section 28 of the SRC and penalized with a maximum fine of Five Million pesos (P5,000,000.00) or penalty of twenty-one (21) years of imprisonment or both pursuant to Section 73 of the SRC. Also, those who invite or recruit others to join or invest in suchventure or offer investment contracts or securities to the public may incurcriminally liability, or
otherwise be sanctioned or penalized accordingly as held by the Supreme Court inthe case of Securities and Exchange Commissionvs. 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 advised to exercise caution in dealing with any individuals or group of persons soliciting investments for and on behalf of FINANCING INTERNATIONAL-CASINO (FINANCING INTERNATIONAL) and/orCASINO VIP FINANCING BY CATHLYNE PAPASIN and/orCASINO VIP FINANCING (CASINO FINANCING)and/orFORTUNE DRAGON CASINO FINANCING (FORTUNE DRAGON). The public is further advised NOT TO INVESTor STOP INVESTINGin any investment scheme being offered by aforementioned entities.Should you have any information regarding any investment solicitation byany individuals or group of individuals representing FINANCING INTERNATIONAL-CASINO (FINANCING INTERNATIONAL) and/orCASINO VIP FINANCING BY CATHLYNE PAPASIN and/orCASINO VIP FINANCING (CASINO FINANCING)and/orFORTUNE DRAGON CASINO FINANCING (FORTUNE DRAGON),please call the Enforcement and Investor Protection Department (EIPD) at telephone number(02) 8818-6047 or send your report to the EIPD at epd@sec.gov.phor you may visit EIPD office located at Ground Floor, North Wing Hall, Secretariat Building, PICC Complex, Pasay City.For the guidance of the public