JUAN SAVINGS is not registered with the Commission and is not authorized to solicit investments from the public

Date Posted: 4 August 2020



SEC Facebook

Information gathered from online sources and reportsfrom the public show that JUAN SAVINGS is claiming to be engaged in a legitimate forex trading businessand has its own professional traders. It is allegedly being operated by its founder, ALEJANDRO “ALI”G.SARONA.JUAN SAVINGS is providingaGUARANTEED fixed interest rate to investors, starting at 7% for thirty (30) business days.The investment islocked-in for ten (10) months where an investor is expected to get his profits monthlywithin the period of the 10-month contractand the full amount of investment at the end of the 10thmonth.A Facebook (FB) account named “Juan Savings” using the url actively soliciting investments as shown in the following screenshot of an FB post:
The public is hereby informed that JUAN SAVINGS is not registered with the Commission and is not authorized to solicit investmentsfrom the public, not having secured prior registration and/or license to sell securities or solicit investments as prescribed under Section 8 of the Securities Regulation Code (SRC).Further, ALEJANDRO “ALI” G. SARONAhasNOTbeen issued a licenseby the SECasanAssociated Person, Compliance Officer, Salesman and/or Certified Investment Solicitor of a Broker Dealer in Securities, Investment House, Underwriter of Securities, Investment Company Adviser and/or Mutual Fund Distributor.Moreover, the Commission does not allow the registration of Foreign Exchange (FOREX) in the nature of Commodity/FinancialFutures Contract, Contracts for Difference (CFDs) and other similar derivatives nor their merchants/brokers as the pertinent rules governing these securities remain suspended pursuant to Rule 11 of the 2015 Implementing Rules and Regulation of the SRC.Those who act as salesmen, brokers, dealers or agents of the said entity in selling or convincing people to invest in the investment scheme it is being offered including soliciting investments or recruiting investors through the internet may be held criminally liable under Section 28 of the SRC and penalized with a maximum fine of Five Million Pesos (Php5,000,000.00) or imprisonment of Twenty One (21) years or both pursuant to Section 73 of the SRC (SEC vs. Oudine Santos, G.R. No. 195542, 19 March 2014).Violators are further warned thataside from the strict 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.Furthermore, 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 hereby advised to exercise caution in dealing with ALEJANDRO “ALI” G. SARONAand any individual or group of persons soliciting investments for and on behalf of JUAN SAVINGS. The public is further advised NOT TO INVESTor toSTOP INVESTINGin the investment scheme being offered by ALEJANDRO “ALI” G. SARONAor hisrepresentativesthrough JUAN SAVINGS. Should you have any information regarding the operation of the subject entity, please submit your report to the Enforcement and Investor Protection Departmentat For the guidance of the public.Pasay City, 04August 2020