Date Posted: 10 July 2019
PAYCHECK AB
The Commission has received information that individuals or group of persons representing entitiesnamedPAYCHECK AB ONLINE SERVICES CO./PAYCHECK AB ONLINE ADVERTISING SERVICES/PAYCHECK.NET.INC./PAYCHECK-AB.COM/PAYCHECK AFFILIATE MARKETING/ PAYCHECK: E-COMMERCE SYSTEM AND AFFILIATE MARKETING/PAYCHECKare engaged in a similar scheme of enticing the public to invest money with the promise of monetary rewards or profits. The scheme involves inviting people to pay the amount of One Thousand Pesos (Php1,000.00) in exchange for a promise of high monetary rewards that can only be achieved through recruitment of more people to participate in the scheme. The public is herebyinformed that the above named entities are NOTauthorized to solicit investments from the public, not having secured prior registration and/or license tosell securities orsolicit investmentsas prescribed under Section 8 of the Securities Regulation Code (SRC).Those who act as salesmen, brokers, dealers or agents of PAYCHECK AB ONLINE SERVICES CO./PAYCHECK AB ONLINE ADVERTISING SERVICES/PAYCHECK.NET.INC./PAYCHECK-AB.COM/PAYCHECK AFFILIATE MARKETING/ PAYCHECK: E-COMMERCE SYSTEM AND AFFILIATE MARKETING/PAYCHECKin selling or convincing people to invest in the investment scheme being offered by the said entitiesincluding soliciting investments or recruiting investorsthrough the internet maybe held criminally liable under Section 28 of the SRCand penalized with a maximum fine of Five Million Pesos (Php5,000,000.00)or imprisonment of Twenty One (21) years or both pursuant to Section 73 of the SRC (SEC vs. Oudine Santos, G.R. No. 195542, 19 March 2014).In view thereof, the public is hereby advised toSTOP INVESTINGin the investment scheme being offered by the said entities. 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.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