Date Posted: 17 July 2019
TOGACHAT ACADEMY PHILIPPINES INC
The Commission has received information that individuals or group of persons representing entities named TOGACHAT ACADEMY PHILIPPINES, INC.are enticing the public to invest their moneyin the said entitywith the promise of monetary rewards or profits.Based on the information gathered, the scheme involves inviting people to pay the minimum amount of Five Thousand Pesos (Php5,000.00) in exchange for a promise of high monetary rewards that can only be achieved through recruitment of more people to participate in the scheme.To be amember, one must avail of a package which contains Toga Credit illustrated as follows:PackageAmount in $Toga CreditBronze100200Silver300750Gold1,0003,000Platinum3,00010,500Titanium10,00040,000Palladium30,000135,000Rose Gold100,000500,000Toga Credit will be converted into Toga Points subject to the following scheme: oDirect referral –a member will receive 50% Toga Points upon recruit of one person (depending on the availed package). oPairing Bonus –a member will earn additional Toga Points for every pair in the binary structure.The Toga Points earned will be deducted from your Toga Credit which can be used to purchase a stock of Toga Limited or can be cashed out immediately. The public is hereby informed that the subject entity registered with the Commission as a corporation, however, it isNOT authorized to solicit investments from the public, not having secured prior registration and/or license to sell securities or solicit investments as prescribed under Section 8 of the Securities Regulation Code (SRC).
Those who act as salesmen, brokers, dealers or agents of TOGACHAT ACADEMY PHILIPPINES, INC.in selling or convincing people to invest in the investment scheme being offered by the said entities including soliciting investments or recruiting investors through the internet may be held criminally liable under Section 28 of the SRC and 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 to STOP INVESTINGin the investment scheme being offered by the said entity. 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