HNP – Högpong ng Pagtutulungan is not registered as a corporation which is a requirement before a secondary license or a Certificate of Authority to Operate as a Lending/Financing Company is issued.
Date Posted: 1 September 2020
HNP HÖGPONG NG PAGTUTULUNGAN
The Commission
hereby
warns the public that
HNP
–
HÖGPONG NG
PAGTUTULUNGAN
is
offering loan services to the public
and soliciting
investments
without the appropriate registration and
authority
from the
Commission.
According to information gathered by the Commission,
HNP
–
Hög
pong
ng Pagtutulungan,
founded b
y its CEO,
Nacsonin Canopin
, was initially
enticing
the public, specifically seafarers, to take out personal and business loans w
hich
they offer as a form of “assistance” to the financial needs of said seafarers.
They
later
also offered said services to employees of shipping companies and even
private entity employees.
HNP HÖGPONG NG PAGTUTULUNGAN
offers the
following loanable
amount: Php
20,000.
00, Php50,000.00 and Php
80,000.00 with an interest
rate of 3%
–
5% monthly.
A member may also invite
or refer
prospective
clients to avail of the loan services and earn commission for every successful
invite.
However,
an
invited client m
ust
first
pay a
membership fee of
Php
1,000.00
to
be able to take out a loan.
The said membership fee is
divided
between the company and the
one who referred the client
as his
/her
commission.
Once the loan is fully paid,
the
one who refe
rred the client
will
again receive a commission from the loan payments and
the
recruit
may now
become an investor by
investing a
minimum amount of $400.00 with
a
guaranteed 5% monthly income or 60
% profit share annually without
doing anything.
Below are
the
entity’s online posts enticing and inviting
the public to
invest
.
Records of the Commission show that HNP HÖGPONG NG PAGTUTULUNGAN
is not registered
as a corporation
which is a requirement before a secondary
license
or a Certificate of Authority to Operate as a Lending/Financing
C
ompany is issued.
Accordingly, HNP HÖGPONG NG PAGTUTULUNGAN, operates
as a lending or financing company without the necessary registration and
license from the Commission which is a clear
violation of the Lending Company
Regulation Act of 2007 which provides that
a
lending company shall be
established only as a corporation
and that
n
o lending company shall conduct
business unless granted an authority to operate by the SEC
.
HNP HÖGPONG NG PAGTUTULUNGAN
is
likewise
not
authorized
to
offer
its
investment scheme to the public
,
which constitutes securities
,
without a
registration statement duly filed with and approved by the
Commission under
Section 8.1 of the Securities Regulation Code.
Accordingly, those who invite or recruit other people to join or invest
in this
venture or offer investment contracts or securities to the
public may be
held criminally
liable or accord
ingly sanctioned or penalized i
n acc
ordance
with the Supre
me Court decision in the case of
SEC vs. Oudine Santos
(G.R. No.
195542, March 19, 2014
).
Violators are further warned that aside from the s
trict penalties imposed
by the
Commission for violations of the SRC, the Revis
ed Corporation Code
of the
Philippines,
the Lending Company Regulation Act,
and such other rules
and regulations it enforces, the Bayanihan to Heal
as One Act (Republic Act
No. 11469)
also
punishes t
hose participating in cyber
incidents that
make
use or take advantage of the current c
risis situation to prey on the
public
through scams, phishing, fraudulent emails, or other similar acts
.
In view thereof, the public is hereby advised to exercise
caution in dealing
with any individual or group
of persons offering loan services and investment
opportunities on behalf of HNP HÖGPONG NG PAGTUTULUNGAN
. The public is
further advised
NOT TO INVEST
or to
STOP INVESTING
in the investing
scheme offered by the subject entity or any of its representatives
.
Should you have any information regarding the operation
s
of the subject
entity,
please
send your report
to the E
nforcement and
I
nvestor
P
rotection
D
epartment
at
[email protected]
.
For the guidance of the public.
Pasay City, 01 September 2020