SEC Facebook

Based on the information gathered by the Commission, a number of individuals
or group of persons claiming to represent
EARN CASH QUARANTINE LENDING
CONSULTANCY SERVICES (“EARN CASH”)
,
headed by
JOHN MITCHELL
MAPAYE
ALCANTARA
, are enticing the public to invest their money in said entity.
As posted online,
EARN CASH QUARANTINE LENDING CONSULTANCY
is offering investments to the public with a minimum amount worth
Php2,000
and promises earnings of
40%, 50%, 100% or 300% of their investment
in 12, 25, 30 or 75 days
, respectively.
Interested
i
ndividuals
need
to
sign
up
through
their
website
(
https://ecqnow.com/register
) and choose which in
vestment plan they opt to invest in.
Their packages for upcoming investors starting July 1, 2021
are
,
as follows:
1.
Forty percent (40%) in twelve (12) days lock
–
in with Php10,000 minimum amount
of investmen
t;
2.
Fifty percent (50%) in twenty
–
five (25) days package with Php2,000 minimum
amount of investment without lock
–
in period;
3.
One Hundred Percent (100%) in thirty (30) days lock
–
in with Php20,000 minimum
amount of investment; and
4.
Three Hundred Percent (300%)
in seventy
–
five (75) days lock in with Php100,000
minimum amount of investment.
Investors
also have the
chance
to earn more through the following:
1.
10% commission through direct referral;
2.
25% admin fee will be given to Top 10 Direct Referral Bonus
(DRB) earner
weekly; and
3.
2% indirect referral down to the 4
th
level.
The withdrawal process may be requested
from their website (after lock
–
in
)
from
10am to 3pm every Friday and Sunday. An Admin Fee of 10% will be deducted fr
om the
withdrawabl
e profit. P
ayout
s
are
released the following day.
As t
he above described schemes involved 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
the
appropriate registration and/or
license
to sell such securities to the public pursuant to Section 8 of the SRC.
The records of the Commission show that
EARN CASH QUARANTINE LENDING
CONSULTANCY SERVICES
is not registered with the Commission either as a corporation
or as a partnership. Further, 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 Secti
ons 8 and 28 of the SRC.
Hence, those who act as salesmen, brokers, dealers or agents or claim to act as
such for
EARN CASH QUARANTINE LENDING CONSULTANCY
in selling or
convincing people to invest in the investment scheme being offered by said e
ntity 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 impri
sonment 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
EARN CASH QUARANTINE LENDING CONSULTANCY
and to exercise
caution in dealing with any individuals or group of persons soliciting investments for and on
behalf of it.
Should you have any informati
on regarding the operation of
EARN CASH QUARANTINE LENDING CONSULTANCY
or any securities solicitation
activity by any individual or group of individuals representing
EARN CASH QUARANTINE LENDING CONSULTANCY
, please call the Enforcement an
d Investor
Protection Department at telephone numbers (02) 8818
–
6047 or send your report to the
EIPD at
epd@sec.gov.ph
.
For the guidance of the public.
Pasay City,
06
July 2021