CASHDROP/CASHDROP ONLINE STORE is NOT registered either as a corporation or a partnership and is NOT AUTHORIZED to solicit investments from the public
Date Posted: 24 November 2020
Based on the information gathered by the Commission, a number of
individuals or group of persons claiming to represent
CASHDROP headed by a certain JONATHAN
PUENTE, are enticing the public to invest their money in said entity.
As posted online, CASHDROP entices the public to invest online or
through the internet by availing either of the following packages and shall be
entitled to “double your money or 200% return (PAYOUT) in 15 days”.
Accordingly, a member shall only need to invest, wait, and earn without
having to do anything.
As the above described schemes involved the sale of securities to the public,
the Securities Regulation Code (SRC) requires that these securities are duly
registered and that the concerned corporation and/or its agents have appropriate
registration and/or license to sell such securities to the public pursuant to Section 8
of the SRC.
Per records of the Commission, CASHDROP is NOT registered either as a corporation or a partnership. However,
CASHDROP ONLINE STORE has been issued a Certificate of Business Name
Registration on 03 October 2020 by the Department of Trade and Industry with
Business Name No. 2215760 under the name of JONATHAN ALBERT NUŇEZ
PUENTE. Nonetheless, CASHDROP/CASHDROP ONLINE STORE is NOT
AUTHORIZED to solicit investments from the public since it has not secured
prior registration and/or license from the Commission as prescribed under Sections
8 and 28 of the SRC.
Hence, those who act as salesmen, brokers, dealers or agents or claim to act
as such for CASHDROP/CASHDROP ONLINE STORE in selling or convincing
people to invest in the investment scheme being offered by said entity including
solicitations and recruitment through the internet may be prosecuted and held
criminally liable under Section 28 of the SRC and penalized with a maximum fine of
Five Million pesos (P5,000,000.00) or penalty of Twenty-one (21) years of
imprisonment or both pursuant to Section 73 of the SRC.
Also, those who invite or recruit others to join or invest in such venture or offer
investment contracts or securities to the public may incur criminally liability, or
otherwise be sanctioned or penalized accordingly as held by the Supreme Court in the
case of Securities and Exchange Commission vs. Oudine Santos (G.R. No. 195542,
19 March 2014).
The public is advised NOT TO INVEST or STOP INVESTING in any investment
scheme being offered by any individual or group of persons allegedly for or on behalf
of CASHDROP and to exercise caution in dealing with
any individuals or group of persons soliciting investments for and on behalf of it.
Should you have any information regarding the operation of the subject entity,
please call the Enforcement and Investor Protection Department at telephone
numbers (02) 8818-6047 or send your report to the EIPD at email@example.com.
For the guidance of the public.
Pasay City, 24 November 2020