SEC Facebook

Based on information gathered by the Commission, a number of individuals or
group of persons claiming to represent
ECOMM SHARES
headed by
its CEO and founder William
Thomas are enticing the public to invest their money in said
entity.
As posted online,
ECOMM SHARES
is
offering a
3% daily
income
to its investor by just logging to his/her account and clicking the SELL button
for a
total of 60 days.
Further, it has a Direct Referral bonus which it calls Affiliate Rewards for its recruitment
scheme.
The public is hereby informed that
ECOMM SHARES
is not
registered with the Commission either as a corporation or as a partnership
. Consequently,
ECOMM SHARES/E
–
COMM SHARES
is
not authorized to solicit investments from the
public
as it did not secure prior registration and/or license to solicit investments from the
Commission as prescribed under Section 8 of the Securities and Exchange Commission.
Further,
ECOMM SHARES
is also
NOT REGISTERED
either
as a crowdfund
ing intermediary or a funding portal under SEC Memorandum Circular No.
14, Series of 2019 or the
Rules and Regulations Governing Crowdfundin
g.
Those who act as salesmen, brokers, dealers or agents of the said entity in selling
or convincing people to inve
s
t in the investment scheme
being offered 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 i
mprisonment 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
).
Furthermore, the names of all those involved will be reported to the Bureau of
Internal Revenue (BIR) so that the appro
priate penalties and/or taxes be correspondingly
assessed.
In view thereof, the public is hereby 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
ECOMM SHARES
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 information regarding the operation of the subject entity,
please submit your report to the Enforcement and Investor Protection Department at
epd@sec.gov.ph
.
For the guidance of the public.
Pasa
y City,
23
September
2021