SEC Facebook

Based on
information gathered by the Commission,
individuals and groups of
persons representing
CROWDBIT
–
88
.COM (CROWDBIT
–
88)
owned
and operated
by
Hazel Tesoro Figueroa
, a.ka. Hazel
Taguinod Figueroa
are
engaged in investment
–
taking activities not authorized by the Commission.
CROWDBIT
–
88
entices the public by recruiting them to
become
me
m
ber
s
through
its so
–
called
Invest Wait and Earn (IWE
)
Crowdf
unding
Bit In Bit Out
.
There are
2 c
omplans
of
Crowdbit
–
88,
the first is
C
rowdbit Original
where you can
invest
for
as low as Php100 and earn
200% ROI for 15 days Lock
–
in Program
.
In this complan,
the
re are
different wa
ys to earn
extra income such as:
(1
)
Direct Selling
;
(2
)
Direct Referral Bonus
of
5
%
:
(3
)
Indirect Referral Bonus
of
10%
(
from
the
2nd
up
to
the
10th
level)
; and
(4
)
U
nilevel
Bonus
.
The secon
d complan is
Crowdbit Binary
where
the minimu
m investment is
Php1,000 with
200% ROI for 15 days Lock
–
in Program
.
Crowdbit Binary complan
also
offers different ways to earn
such as
:
1.
Direct Referral Bonus where you will get Php5
0.00 for every new account
sale
s under your referral link. (Note: Add account of your downline all Direct
referral Bonus
goes to upline).
2.
Matching Bonus where you will ge
t Php100.00 for every match sal
es under
your structure
–
1 left and 1 right (Note: Matching Bonus is limit
ed to
5 pairs a
day per account equivalent to Php500.00 for safety net of the company)
3.
Indirect Refer
ral Bonus where you will get Php10.00 for eve
ry account
activ
ate
d
under your downline start
ing from
the
2nd level up to 10t
h level
(Note: Account
is
deactivat
e
d
once income
is
withdraw
n
after 15 days.
Reactivate your account for continuous earnings.
)
The scheme of
CROWDBIT
–
88
involves the offering and sale of securities in the
form of Investment Contracts to the public because the investors need not exert any effort
other than to inv
est or place monies in
CROWDBIT
–
88
in order to generate income.
Since said
scheme involves the sale of securities to the public, the Securities
Regulation Code (SRC) requires that these securities are duly registered with the
Commission and that the concerned corporation and/or its agent
s have appropriate
registration and/or license to sell such securities to t
he public pursuant to Section 8.1 and
28.1
of the SRC.
Per record
s
of the Commission,
CROWDBIT
–
88
is not registered
as a corporation
or p
artnership
. However,
CROWDBIT-88 BEAUTY
PRODUCTS TRADING
has been
conferred Certificate
s of Business Name Registration
under BNN 198635 and 1984028
issued to
Hazel Taguinod Figueroa/Hazel Tesoro Figueroa
both on July 20, 2020.
Nonetheless
,
CROWDBIT-88
is
not authorized to solicit investment
s
fr
om the public
as
it did
not secure prior registration and/or license to solicit investments from the
Commission as prescribed under Section 8 of the Securities and Exchange Commission.
Moreover
,
CROWDBIT-88
is
also
NOT REGISTERED
either as a crowdfunding
intermediary or a funding portal under SEC Memorandum Circular No. 14, Series of 2019
or the
Rules and Regulations Governing Crowdfundin
g.
Consequently
, the Commission warns all unscrupulous individuals and/or entities
that
stric
t penalties are imposed for violations of the Securities Regulation Code,
the Revised Corporation Code, and such other rules and regulation enforced by
the Commission
.
Therefore,
those who act as salesmen, brokers, dealers or agents or claim to act
as such
of
CROWDBIT-88
in selling or convincing people to invest in the investment
scheme being offered by said entities including solicitations and recruitment through the
internet may be prosecuted and held criminally liable under Section 28 of the SRC and
pena
lized with a maximum fine of Five Million pesos (Php5,000,000.00) or penalty of
Twenty
–
one (21) years of imprisonment or both pursuant to Section 73 of the SRC.
Further
, those who invite or recruit others to join or invest in such venture or offer
invest
ment contracts or securities to the public may incur criminal 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)
.
In addition
, 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.
In view thereof, the public is advised
NOT TO INVEST or STOP INVESTING
in
any
investment scheme being offered by
CROWDBIT-88
and exercise caution in dealing
with any individuals or group of persons soliciting investments or recruiting investors for
and on behalf of
CROWDBIT-88
.
Violators are further warned that aside from the stri
ct penalties imposed by the
Commission for violations of the SRC, the Revised Corporation Code of the Philippines,
and such other rules and regulations it enforces, the Bayanihan to Heal as One Act
(Republic Act No. 11469) also punishes those participating
in cyber incidents that make
use or take advantage of the current crisis situation to prey on the public through scams,
phishing, fraudulent emails, or other similar acts.
Should you have any information regarding any investment solicitation by any
indivi
duals or group of individuals on behalf of
CROWDBIT-88
, please
send your report
to the
ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT
at
epd@sec.gov.ph.
For the guidance of the public.
Pasay City, 2
2
September
2020