THE FILIPINO FINANCIAL BREAKTHROUGH PROGRAM/FINANCIAL BREAKTHROUGH PROGRAM is not registered as a corporation or partnership with the Commission. Having no primary registration/corporate franchise, with more reason that it is NOT AUTHORIZED to solicit investments from the public since it has not secured prior registration and/or license from the Commission as prescribed under Sections 8 and 28 of the SRC.
Date Posted: 3 June 2020
FILIPINO FINANCIAL BREAKTHROUGH PROGRAM
Based on the information gathered by the Commission, a number of individuals or group of persons representing an entity named THE FILIPINO FINANCIAL BREAKTHROUGHPROGRAM/FINANCIAL BREAKTHROUGH PROGRAMare enticing the public to invest in said entity.Based on reports from the public and various posts in Facebook (FB),FILIPINO FINANCIAL BREAKTHROUGH PROGRAM has been inviting the public to join/availoftheir company/programby investing a minimum amount of Php18,660.00(one account) toa maximum of Php130,620.00(seven accounts).An investor has to first enroll in the company’s system, promote its program through social media,and enjoy the following benefits, among others:1.Sign up bonusof Php12,000.00;2.Referral bonus where aninvestorshall earn Php11,550.00for every person he/she enrollsin the system;3.Pairing Bonus where aninvestorshall earn Php16,800.00 in cash for every pair he/she enrolls;4.Additional bonus of Php33,600.00 if the investor enrollsfour (4) persons in the system;5.The investor will also have a free one year insurance worth of Php1,000,000.00 to be provided by AXA Insurance in partnership with Bank of the Philippine Islands; and 6.FREE PRODUCTS FROM ROYALE BUSINESS CLUB INC. Notably a member may earn an outright income of up to Php125,400.00 in addition to all other income that may be earned from the recruitment of others. As the aforementioned schemes involve the sale of securities to the public, the Securities Regulation Code (SRC) requires that these securities are duly registered and that the concerned corporation and/or its agents have appropriate registration and/or license to sell such securities to the public pursuant to Section 8 and 28 of the SRC.
Per records of the Commission, FILIPINO FINANCIAL BREAKTHROUGH PROGRAM is not registered as a corporation or partnership with the Commission. Having no primary registration/corporate franchise, with more reason that it is NOT AUTHORIZED to solicit investments from the public since it has not secured prior registration and/or license from the Commission as prescribed under Sections 8 and 28 of the SRC. Hence, those who act as salesmen, brokers, dealers or agents or claim to act as such for the offering of FILIPINO FINANCIAL BREAKTHROUGH PROGRAM in selling or convincing people to invest in the investment scheme being offered by said entities 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 (P5,000,000.00) or penalty of Twenty-one (21) years of imprisonment or both pursuant to Section 73 of the SRC. 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 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 public is advised NOT TO INVEST or STOP INVESTING in any investment scheme being offered by any individual or group of persons allegedly for or on behalf of FILIPINO FINANCIAL BREAKTHROUGH PROGRAM and exercise caution in dealing with any individuals or group of persons soliciting investments for and on behalf of them. Violators are further warned 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 Covid-19 crisis situation to prey on the public through scams, phising, fraudulent emails, or other similar acts. Should you have any information regarding the operation of the subject entity, please call the Enforcement and Investor Protection Department at telephone numbers (02) 8818-6047or send your report to the EIPD at firstname.lastname@example.org.For the guidance of the public.Pasay City, 2June2020