PAYADSTARS/PAY AD STARS is NOT REGISTERED as a corporation or partnership with the Commission and has NO SECONDARY LICENSE to solicit, accept or take investments/placements from the public nor to issue investment contracts and other forms of securities defined under Section 3 of the Securities Regulation Code (SRC).
Date Posted: 19 May 2020
PAYADSTARS
The Commission has received information that individuals or group of persons claiming to represent PAYADSTARS/PAYAD STARS, areenticing the public to invest their money in the said entity as can be seen in the following post:
Based on reportsfrom the public and Facebook (FB) postings, PAYADSTARS/PAYAD STARSis enticing the public to invest in the said entity with a promise of earning a return of 1.8 to 2% daily in 100 days or the equivalent of 180 % to 200% in a period of 100 days. As posted on their Facebook page, you can start a business by registering first, then you can choose from anyof the three (3) types of entry plans namely:PLAN ALPHA, PLAN BETA, and PLAN CHORME and youcan also earn from direct referral ranging from 1% (level 3), 2% (level 2) and 7%(level 1). According to its Facebook page (PAYADSTARSOFFICIAL, the admins are MUHAMMAD ASIF, JAKE VILLANUEVA, KELY ISOM TOLAR and JAI RAY. Based on the Facebook profile of JAKE VILLANUEVA, he stated that he isthe owner of the PAYADSTARS/PAYAD STARS.In it’s recent post, PAYADSTARS/PAYAD STARS came out with it’s latest scheme, with a promise of earning a return of 0.158%, 0.162% and 0.166%hourly in 30 days.You can choose from three (3) types of entry namely: SILVER, GOLD, and PLATINUM.Accordingly, the scheme ofPAYADSTARS/PAY AD STARSinvolves the offering and sale of securities in the form of investment contracts to the public.Therefore, the said offer and sale of securities must be duly registered with the Commission and that the concerned corporation and/or its agents must have appropriate registration and/or license to sell such securities to the public in accordance with Section 8 of the Securities Regulation Code (SRC).However, PAYADSTARS/PAYAD STARSis NOT REGISTEREDas a corporation or partnership with the Commissionand has NO SECONDARY LICENSEto solicit, accept or take investments/placements from the public nor to issue investment contracts and other forms of securities defined under Section 3 of the Securities Regulation Code (SRC).In view thereof, the public is hereby advised to STOP INVESTINGin the investment scheme being offered by PAYADSTARS/PAYAD STARS anditsrepresentatives orany entities engaged in investment schemes which promises ridiculous rates of return with little or no risksor show any other indications or characteristics of a Ponzi Scheme.
Everyone is reminded that aside from the strict penalties imposed by the Commission for violations of the Securities Regulation Code, the Revised Corporation Code, and such other rules and regulation 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.In addition, those who act as salesmen, brokers, dealers or agents of PAYADSTARS in selling or convincing people to invest in the investment scheme being offered by said entity including solicitations and recruitment through the internet may likewise be criminally prosecuted and penalized with a maximum fine of Five Million pesos (P5,000,000.00) or penalty of Twenty-one (21) years of imprisonment or both pursuant to Sections 28 and 73 of the SRC. Further, those who invite or recruit others to join or invest in such venture oroffer investment contracts or securities to the public may incur criminally 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).The names of all those involved will also be reported to the Bureau of Internal Revenue (BIR) so that the appropriate penalties and/or taxes be correspondingly assessed. Should you have any information regarding the operation of PAYADSTARS or any investment solicitation activity by any individual or group of individuals representing PAYADSTARS, please send your report to the Enforcement and Investor Protection Department at epd@sec.gov.phFor the guidance of the public.Pasay City, 19 May 2020