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The Commission has received information that individuals or groups of persons representingRIGEN MARKETING (“RIGEN”) are enticing the public to invest in the said entity online and through walk-in solicitations.Accordingly,RIGENis anewstartup company based in Tagum City,Davao Del Norte and has expanded to other provinces of Davao Oriental, Occidental, Davao Del Sur, General Santos City, and other neighboring cities and municipalities.Verily, its aim is “to helpthe financial needs of individuals by providing a concrete systemallowing ordinarypeople to have solid additional income”.Based on the information gathered by the Commission, RIGENis engaged in soliciting investments andpromisesto the public a guaranteed returnof400%in just 30 daysless or more.The said invest scheme is illustrated below:INVESTMENTRETURN/INCOME 400%REGISTRATION FEE5KTurns -20k15010KTurns -40k30015KTurns -60k45020KTurns -80k60025KTurns -100k 75030KTurns -120k90040KTurns -160k120050KTurns –200k1500Allegedly, RIGENis operated by personalities who are said to be “BIG PLAYERS” in FOREX and CRYPTO-CURRENCY Trading and duly licensed in Singapore.Where the scheme involves the sale of securities to the public, SRCrequires that the issuing person and/or entity must be aregistered corporation with SEC, the said securities offered are duly registered and that the appropriate license and/or permit to sell securities to the public are issued to the corporation and/or its agents, pursuant to the provisions of section 8 and 28 of the SRC.The public is hereby advised to exercise caution in investing their money in these types of schemes which mayalsoturn out to be Fraudulent Investment Schemes, involving the sale of unregistered securities.Those who act as salesman, broker or agents of RIGENin selling or convincing people to invest in the investment scheme being offered, including solicitations or recruitment 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) or imprisonment of Twenty One (21) years or both pursuant to Section 73 of the SRC.Likewise, those who sell or offer securities the public,may be held criminally liable or accordingly sanctioned or penalized pursuant to the Supreme Court Decision in the case of Securities and Exchange Commission (SEC)Vs. Oudine Santos(G.R. No. 195542, 19 March 2014).Should you have any information regarding the operationsof the subjectentities, please call the Enforcement and Investor Protection Department at telephone numbers(02)818-6337 and (02)818-5324.For the guidance of the public