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Based on the information gathered by the Commission, a number of individuals or group of persons claiming to represent ISHARED TECHNOLOGIES ECOLIFE are enticing the public to invest their money in said entities.Remarkably, Ecolife promises membersavailing a package ranging from 1,000.00 up to 10,000.00 that they would earn 60% thereof, i.e., P600.00/P6,000.00 per 7 days/cycles.Investigation disclosed thatmembers of the organization are directed to use and create an account in its website: https://www.isharedtech.com/loginor http://www.tuverr.com/login.Below are the ways to earn:1.Earn P600 pesos every 7days/cycle:
2.Direct referral3.Incentives such as smartphones/cars.Evidently,what was being offered by the company is actually the potential of earning income, ultimately through direct recruitment or through recruitment of others. The income that is promised to its investors or the expected profit of the investors does not come from the outcome of a legitimate business activity. Further, the aforementionedschemes involvethe 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 verificationrecords of the Commission showedISHARED TECHNOLOGIES ECOLIFE is not registered with this Commission either as a corporation or as a partnership.Meanwhile, FRESHECOLIFE WATER REFILLING STATIONisDTI-registeredwith Certificate No. 1179242issuedon 10 September 2019.
Records of the Commission showed that ISHARED TECHNOLOGIES ECOLIFE have not been issued secondary license by this Commission.Hence, those who act as salesmen, brokers, dealers or agents or claim to act as such for ISHARED TECHNOLOGIES ECOLIFE 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 INVESTor STOP INVESTINGin any investment scheme being offered by any individual or group of persons allegedly for or on behalf of ISHARED TECHNOLOGIES ECOLIFE 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 send your report to the Enforcement and Investor Protection Department atepd@sec.gov.ph.For the guidance of the public.Pasay City, 28July 2020