SEC Facebook

The
Commission
has received information that individuals or group of persons
representing
ASCEND INTELLIGENCE COMPANY/ ASCEND INTELLIGENT/ AI
COMPANY/
ASCEND
–
INTELLIGENCE.COM
i
s
soliciting in
vestment
s
from the public
.
As shown above
ASCEND INTELLIGENCE COMPANY/ ASCEND INTELLIGENT/
AI COMPANY/
ASCEND
–
INTELLIGENCE.COM
offers
10
0% profit within 40
days
with
a minimum investment of Php1,000.00 with no maximum investment limit.
Allegedly, t
he earnings will be generated from trading in the crypto
–
currency
markets by
ASCEND INTELLIGENCE COMPANY/ ASCEND INTELLIGENT/ AI
COMPANY/
ASCEND
–
INTELLIGENCE.COM
through its
AI Robot
.
Further,
ASCEND INTELLIGENCE COMPANY/ ASCEND INTELLIGENT/ AI
COMPANY/
AS
CEND
–
INTELLIGENCE.COM
is offer
ing a direct referral bonus of 20
%
and indirect referral bonus of 1%:
The public is hereby warned that such investment schemes are considered as
securities in the form of investment contracts subject to the regulatory au
thority of this
Commission. The offering of securities to the public without a permit or license is a
violation of Section 8.1 of the Securities Regulation Code.
Briefly, an “
investment contract”
exists when there is an investment or placement
of money i
n a common enterprise with a reasonable expectation of profits to be derived
from the efforts of others which is prominent in the scheme of
ASCEND INTELLIGENCE
COMPANY/ ASCEND INTELLIGENT/ AI COMPANY/
ASCEND
–
INTELLIGENCE.COM.
As such, the Securities Regula
tion Code (SRC) requires that said offer and sale of
securities must be duly registered with the Commission and that the concerned entity
and/or its agents should have the appropriate registration and/or license to sell such
securities to the public.
Bas
ed on the Commission’s database,
ASCEND INTELLIGENCE
,
is
NOT
REGISTERED
as a corporation or partnership and
OPERATES WITHOUT THE
NECESSARY
LICENSE
AND/OR
AUTHORITY
to
solicit,
accept
or
take
i
nvestments/placements from the public nor to issue investment contracts and other
forms of se
curities defined under Section 3
of the Securities Regulation Code (SRC)
.
Further, the scheme employed by
ASCEND INTELLIGENCE COMPANY/ ASCEND
INTELLIGENT/ AI COMP
ANY/
ASCEND
–
INTELLIGENCE.COM
,
shows indication of a
possible
“Ponzi Scheme”
where
monies from new investors are used in paying “fake
profits” to prior investors
and is designed mainly to favor its top recruiters and prior
risk takers and is detrimental to s
ubsequent members in case of scarcity of new
investors.
The offering and selling of securities in the form of investment contracts using
the
“Ponzi Scheme”
which is fraudulent and unsustainable, is
NOT
a registrable
security. The Commission will not issu
e a License to Sell Securities to the Public to
persons or entities that are engaged in this business or scheme.
In view thereof, the public is hereby advised to
STOP INVESTING
in the
investment scheme being offered by
ASCEND INTELLIGENCE
,
and its
representatives.
The Commission further warns t
hose who act as salesmen, brokers, dealers or
agents of
ASCEND INTELLIGENCE COMPANY/ ASCEND INTELLIGENT/ AI
COMPANY/
ASCEND
–
INTELLIGENCE.COM
,
in selli
ng 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
).
Moreover
, the names of all those involved will be reported to the Bur
eau of
Internal Revenue (BIR) so that the appropriate penalties and/or taxes be
correspondingly assessed.
Should you have any information regarding the operation of
ASCEND INTELLIGENCE
,
and
its representatives,
please send your report through email at
epd@sec.gov.ph
For the information and guidance of the public.
Pasay City,
21
October 2021