FAST FIVE SYSTEM-UNITED PHOENIX TEAM is not registered with the Commission and was not issued a secondary license.
Date Posted: 16 March 2020
FAST FIVE SYSTEM
The Securities and Exchange Commission (“Commission”) received information regarding the alleged investment-taking activities and operationsofan entity namedFAST FIVE SYSTEM-UNITED PHOENIX TEAM.FAST FIVE SYSTEM-UNITED PHOENIX TEAM claims to be a marketing arm of ROYALE BUSINESS CLUB INTERNATIONAL INC. The said entityaimsto recruit members of the Philippine National Police, teachers,and other government officialsmainly because these people caneasily avail of a loan that they can use to pay forthe membershipfeetoROYALE BUSINESS CLUB INTERNATIONAL INC.Based on the information gathered by the Commission, FAST FIVE SYSTEM-UNITED PHOENIX TEAMlures the public by recruiting them to become members of ROYALE BUSINESS CLUB INC.Instead of enrolling one account, they convince the prospective investor to enroll seven accountsunder one name simultaneously.The seven accounts amountto ONE HUNDRED FIFTEEN THOUSAND PESOS(PhP 115, 000.00).In return, the investor would receive Royale’s Product worth One Hundred Fifty-Five Thousand Pesos (PhP 155, 000.00), more or less. Upon payment of the said amount, the investorwill automatically receivea netprofit in the amount of Ten Thousand Five Hundred Pesos (PhP 10, 500.00)The scheme focuses on the recruitment of new membersto gain profit rather than sale of Royale products. According to the report, if the member willbe able torecruitthenumber of investors in the below attached program he/she can earn as much as Six Hundred Forty-Six Thousand Two Hundred Pesos (PhP 646, 200.00)in a span of five (5) months.Further, the scheme highlights that after a certain number of direct recruits, the members need not do anything to earn profit since their downline will do the work for them.
The public is hereby informed that FAST FIVE SYSTEM-UNITED PHOENIX TEAM is not registered with the Commissionand wasnot issued a secondary license. Therefore, it is not authorizedto offer, solicit, sell or distribute any investment/securities to the public as such activities require a Secondary License from the Commission. IN VIEW WHEREOF, the Public is hereby advised to exercise cautionin dealing withFAST FIVE SYSTEM-UNITED PHOENIX TEAM or persons purporting to be its representatives.Those who act as salesmen, brokers, dealers or agents of FAST FIVE SYSTEM-UNITED PHOENIX TEAMin selling or convincing people to invest in the scheme being offered by said entityincluding solicitations and recruitment may be prosecuted and be held liable under Section 28 of the SRC. If adjudged guilty, they can be penalized with a maximum fine of Five Million Pesos (PhP 5,000,000.00) or penalty ofTwenty-Oneyears 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 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).
Should you have any information regarding any investment solicitation by any individuals or group of individuals on behalf of FAST FIVE SYSTEM-UNITED PHOENIX TEAM, please call the ENFORCEMENT AND INVESTORS PROTECTION DEPARTMENT(EIPD) at telephone number (02) 8818-6047, or send your report to the EIPD at firstname.lastname@example.org. You may also visit the EIPD office situated at Ground Floor, North Wing Hall, Secretariat Building, PICC Complex, Pasay City.For the guidance of the public.Pasay City. 09March2020