Date Posted: 7 June 2019
The Commission has received information that MUNIFICENCE MINISTRY,representing itself as a non-profit organization andoperating underINTERDENOMINATIONAL EVANGELICAL CHURCH MINISTRIES, INC. with activitiesin Mindanao particularly in the cities of General Santos and Tagum, is enticing the public through social media to invest by offering generous interest income.Based on public posts of MUNIFICENCE MINISTRY, it represents that it is registered with the Commission under SEC Registration Number CN201328348 and it offers investment to the public with “45% monthly payout, 45% lock-in 4 months”.The investment scheme in particular is illustrated asfollows:MUNIFICENCE CALCULATORENTRYMONTHLY4THMONTHSAVED-IN5,0002,25022,10210,0004,50044,20515,0006,75066,30720,0009,00088,41030,00013,500132,61550,00022,500221,025100,00045,000442,050200,00090,000884,101300,000135,0001,326,151500,000225,0002,210,253In the table given, it appears that the “4thMonth Saved-in”which represents the value of investment after the lock-in period of four (4) months is computed as the sum of the“Entry” or amount invested and itscorrespondinginterest compounded at 45% for four (4)months. The public is hereby informed thatSEC Registration Number CN201328348 belongs to INTERDENOMINATIONAL EVANGELICAL CHURCH MINISTRIES, INC., a religious non-stock corporation registered with the Commission as a religious organization. MUNIFICENCE MINISTRY on the other hand,is not registered with the Commission as a corporation or partnership.
Page 2of 2It is to be emphasizedthatboth INTERDENOMINATIONAL EVANGELICAL CHURCH MINISTRIES, INC.as a religious organization and MUNIFICENCE MINISTRY, which operates under the former, are not authorized to solicit investmentsfrom the public andany application for registration to solicit investmentsshall not be allowed by the Commission under the circumstance.Section 8.1 of the Securities Regulation Code (SRC) provides that securities, such as investment contracts1, shall not be sold or offered for sale or distribution within the Philippines unless registered with the Commission. Moreover, Section 28 of the Securities Regulation Code (SRC), prohibits any person from engaging in the buying or selling of securities in the Philippines as a broker, dealer, salesman or associated person of a broker or dealer unless registered as such with the Commission. Accordingly, those who invite or recruit other people to join or invest in this venture or offer investment contracts or securities to the public maybe held criminally liable or accordingly sanctioned or penalize in accordance with the Supreme Court decision in the case of SEC vs. Oudine Santos (G.R. 195542, 19 March 2014).In view thereof, the public is ADVISEDtake the NECESSARY PRECAUTIONin dealing with the above-named entity and/or its representativesand to STOP INVESTINGin this kind of investment activity.If you have invested money or have been invited to invest in MUNIFICENCE MINISTRY, please report this matter to the Commission’s Head Office or Extension Offices in order that appropriate action can be taken against the entity and/or individuals. You may also seek the assistance of our SEC Regional and/or Provincial Offices located at the following addresses, namely:1.SEC –Davao Extension Office with office address at SDC Building, Purok 13, Maa Road, Maa, Davao city or you may call telephone numbers (082) 298-2170 and (082) 298-1893.2.SEC –Cagayan de Oro Extension Office with address at SECBuilding, corner 14thand Tomasaco Del Lara Street, Cagayan de Oro City or you may call telephone numbers (088) 857-4325 and (088) 857-7225