SEC Facebook

The Commission has received information that individuals or group of persons
representing
an
entity
named
G
–
HARVEST
INCORPORATED
/
GREAT
HARVEST
INCORPORATED (GHI)
are
enticing the
public to invest in said entity
.
Based on the reports from the public,
G
–
HARVEST INCORPORATED /
GREAT HARVEST
INCORPORATED
,
operated by its CEO
VENCINT O. CANAL
and the company’s corporate secretary
SHUNAH MAE CEMENE
is enticing the public to invest in the said entity by offering would
–
be
investors to become a GHI Partner.
It was further reported that
G
–
HARVEST INCORPORATED / GREAT HARVEST
INCORPORATED
,
promises GHI Partners a “Return of Investment” equivalent to 23%
–
27% for a
minimum investment of Php10,000.00 per slot for a period of 6 months. Below is a copy of G
–
Harvest
Incorporated contract/agreement:
In its Facebook Account post,
GREAT HARVEST INCORPORATED
is inviting the public to invest
in the said entity and become a GHI Partner. Below are some of the posts:
Further
, in its w
ebsite,
GREAT HARVEST INCORPORATED
advertised that
its company is a
Crowdfunding platform that will provide a platf
orm for agricultural businesses ranging from farmers
and small agri
–
entrepreneur. In the said website,
GREAT HARVEST INCORPORATED
is inviting the
public to become a GHI Partner. Below are some of the posts:
Since said scheme involves the
offer and
sale of securities
in the nature of investment
contracts
to the public, the Securities Regulation Code (SRC) requires that these securities are duly
registered with the Commission and that the concerned corporation and/or its agents have
appropri
ate registration and/or license to sell such securities to the public pursuant to Sections 8.1
and 28.1 of the SRC.
The public is hereby informed that
GREAT HARVEST INCORPORATED
is
NOT AUTHORIZED
to solicit inve
stment
s from the public as it
did not
secure prior registration and/or license to solicit investment from the Commission as prescribed
under Section 8 of
the Securities Regulation Code (SRC).
Further,
G
–
HARVEST INCORPORATED / GREAT HARVEST INCORPORATED (GHI)
i
s also
NOT REGISTERED
either as a crowdfunding intermediary or a funding portal under SEC
Memorandum Circular No. 14, Series of 2019 or the
Rules and Regulations Governing Crowdfundin
g
and has not filed nor has a pending application for registration thereu
nder with the Commission.
Those who act as salesmen
, brokers, dealers or agents of
GREAT HARVEST INCORPORATED
in selling or convincing people to invest in the investment scheme
being offered
by the said entity including soliciting
investments or recruiting investors
t
hrough the
internet may
be held criminally liable under Section 28 of the
SRC
and penalized with a maximum
fine of Fiv
e Million Pesos (Php5,000,000.00)
or imprisonment of Twenty One (21) years or both
pu
rsuant to Secti
on 73 of the SRC (
SEC vs. Oudine Santos, G.R. No. 195542, 19 March 2014
).
In view thereof, the public is hereby advised
NOT TO INVEST
or
STOP INVESTING
in the
investment scheme being offered by
GREAT HARVEST INCORPORATED
or i
ts
representatives.
Furthermore, the names of all those involved will 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
the subject entity, please contact
the Enforcement and Investor Protection
Department at epd@sec.gov.ph
.
For the guidance of the public.
Pasay City, 20 May 2021