AZENZO ONLINE is not registered with the Commission as a corporation or partnership and is not authorized to solicit investments from the public as this entity did not secure prior registration and/or license to solicit investment.
Date Posted: 2 April 2020
The Commission has found postings on the internet where individuals or group of persons representing what they claim to be an independent Crowd Funding Platform called AZENZO ONLINE, is enticing the public to invest in said entity. AZENZO ONLINE boasts that they have a KAPA style system of Deposit-Donation, Withdrawal-Blessing.Based on postson Facebook (FB) and YouTube channel, AZENZO ONLINE is enticing the public to invest in the said entity with a promise a 30% return or Blessingin as early as 5, 10 or 15 days and to a 100% “Donation Return” after 20 days.
Thisscheme of AZENZO ONLINE is relative to the offering and sale of securities, in the form of investment contracts, to the publicbecause its investors need not exert any effort other than to invest or place monies in the said company in order to derive income.As such, Section 8 of the Securities Regulation Code (SRC) requires that said offer and sale of securities must be duly registered with the Commission and that the concerned corporation and/or its agents have appropriate registration and/or license to sell such securities to the public.The public is hereby informed that AZENZO ONLINE is not registered with the Commission as a corporation or partnership and is not authorized to solicit investments from the public as this entitydid not secure prior registration and/or license to solicit investment from the Commission as prescribed under Section 8 of the Securities Regulation Code (SRC).Those who act as salesmen, brokers, dealers or agents of AZENZO ONLINE in selling or convincing people to invest in the investment scheme being offered by the said entityincluding 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 AZENZO ONLINE and itsrepresentatives.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 8818-6047.For the guidance of the public