MAG INVEST KA ONLINE (MIKO) is not registered as a corporation or partnership. Further, the public is hereby informed that MAG INVEST KA ONLINE (MIKO) is not authorized to solicit investments from the public.
Date Posted: 2 April 2020
MAG INVEST KA ONLINE
The Commission has received information that individuals or group of persons representing MAG INVEST KA ONLINE (MIKO)which is being operated through a person or persons using the pseudonym “MAG FOREX”, is enticing the public to invest in said entity.Based on reports from the public and as posted on Facebook (FB) and YouTube Channel,MAG INVEST KA ONLINE (MIKO) is enticing the public to invest in the said entity with a promise of earning 2% daily for 100 days or a total of 200% as appearing in the following webpage of MIKO: Based on the records of the Commission, MAG INVEST KA (MIKO) is not registered as a corporation or partnership. Further, the public is hereby informed that MAG INVEST KA ONLINE (MIKO) is not authorized to solicit investments from the public
as said entity did not secure prior registration and/or license to solicit investments from the Commission as prescribed under Section 8 and 12 of the Securities Regulation Code (SRC).The public is warned that those who act as salesmen, brokers, dealers or agents of MAG INVEST KA ONLINE (MIKO) in selling or convincing people to invest in the investment scheme being offered by the said entity 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).In addition, under the Bayahihan To Heal As One Act(R.A. 11469), individuals or groups participatingin cyber incidents that make use or take advantage of the current (Covid-19) crisis situation to prey on the public through scams, phishing, fraudulent emails, or other similar acts arepunishable with imprisonment of two (2) months or a fine of not less than Ten thousand pesos (Php10,000.00) but not more than One million pesos(Php1,000,000.00), or both.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 toSTOP INVESTINGin the investment scheme being offered by MAG INVEST KA ONLINE (MIKO) and itsrepresentatives. Should you have any information regarding the operation of the subject entity, please call the Enforcement and Investor Protection Department at telephone numbers 8818-6047.For the guidance of the public