GREENLIFT WELLNESS PRODUCTS TRADING is not registered with the Commission either as a corporation or as a partnership and not authorized to solicit investments from the public
Date Posted: 3 December 2020
The Securities and Exchange Commission has received information that individuals or group of individuals representing GREENLIFT WELLNESS PRODUCTS TRADING (“Greenlift”) under Jessie Santos Gamboa (a.k.a. Jessie Boa) are enticing the public to invest their money in the said entity with the promise of monetary rewards orprofits.
GREENLIFT is enticing the public to invest through its 3 Ways to Earn:1.Direct Referral Bonus (DRB) –If the investor-member refers another individual to invest, he gets the following commission based on the investment of hisinvite/s.5%for REGULAR Member;
7%for SILVER Member;10% for GOLD Member, plus 1% for Indirect Referral Bonus (INRB) from the 2ndto 4thlevel;and12% for PLATINUM Member, plus 2% for Indirect Commission from 2ndto5thlevelA member shall be promoted in rank based on his/her total income generated which would entitle him to a graduated percentage in referral commission directly or indirectly.2.Trading Profit -An investor-member, despite having no referrals, shall earn through trades made by the company’s CEO in the Binary Option & Cryptocurrency platforms where an investor-member shall earn a total of 54% in just 18days.Upon Pay-out, the member has the following choices:Reinvest the principal plus interestearned;Reinvest only theprincipalTotally pullout allinvestment.3.Giveaways –Members enjoy free gadgets or bonus cash incentives once or twice a month based on points earned. Points are earned through self-entry, re-entry and referrals’ entries and re-entries. A Php1,000.00-investment is equal to 10points.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 agents have appropriate registration and/or license to sell such securities to the public pursuant to Sections 8.1 and28.1 of the SRC.Per records, GREENLIFT WELLNESS PRODUCTS TRADING is not registered withtheCommissioneitherasacorporationorasapartnership.However, GREENLIFT WELLNESS PRODUCTS TRADING has been issued a Certificate of Business Name Registration on 07 September 2020 by the Department of Trade and Industry with Business Name No. 2144915 under the name of its owner/CEO, Ms. JESSIE SANTOS GAMBOA. Nonetheless, GREENLIFT WELLNESS PRODUCTS TRADING is notauthorized to solicit investments from the publicas 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.Accordingly, the Commission warns all unscrupulous individuals and/or entities that strict penalties are imposed for violations of the Securities Regulation Code, the Revised Corporation Code and such other laws, rules and regulations enforced by the Commission.Hence, those who act as salesmen, brokers, dealers or agents or claim to act as such of GREENLIFT 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 (Php5,000,000.00) or penalty of Twenty-one (21) years of imprisonment or both pursuant to Section 73 of theSRC.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).Further, 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 GREENLIFT WELLNESS PRODUCTS TRADING and exercise caution in dealingwith any individuals or group of persons soliciting investments or recruiting investors for and on behalf of GREENLIFT WELLNESS PRODUCTS TRADING.Should you have any information regarding any investment solicitation by any individuals or group of individuals on behalf of GREENLIFT WELLNESS PRODUCTS TRADING, please send your report to the ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT at email@example.com.For the guidance of the public. Pasay City, 03 December 2020