GLOBAL FINANCE TECHNOLOGY/GLOBAL FINANCE TECHNOLOGIES (GFT) is not registered with the Commission and is not authorized to solicit investments from the public
Date Posted: 16 June 2021
GLOBAL FINANCE TECHNOLOGY
The Commission has received information that a certain
CIPRIANO
S.
BAYADOG III
thru
an
entity
named
GLOBAL FINANCE TECHNOLOGY
is soliciting investments
from the public.
Based on the reports,
GLOBAL FINANCE TECHNOLOGY
owned and operated by
CIPRIANO
S.
BAYADOG III
is enticing the
public
to invest their money for a supposed investment in Forex thru
a so
–
called
“Foreign
E
xchan
ge Management Agreement” where
CIPRIANO
S.
BAYADOG III,
acting like a Fund
Manager, will
allegedly
invest the money in Forex and
promising investors a quarterly
returns of (20% 1
st
Quarter), (30% 2
nd
Quarter), 35% 3
rd
Quarter) and (50% 4
th
Quarter).
Below is a screenshot copy of the Foreign Exchange Management Agreement by
Global Finance Technology:
Further, reports revealed
that
CIPRIANO S. B
AYADOG III
,
as Fund Manager is being
permitted by its members to engaged in trading using an account regi
stered to the Fund
Manager in cryptocurrency exchange (currencies) on a cash, spot, or forward basis on
Binance platform and member/investors were promised to receive
1%, 1.4%, 1.6%, 1.8%
or 2% return rate per day
based on the principal capital which will
be withdrawable when
the minimum withdrawable amount of Php 1,000.00 is reached. Below is a screenshot copy
of the Global Finance Wallet Membership Terms and Condition:
It was further reported that
GLOBAL FINANCE TECHNOLOGY
is claiming and presenting that their company is SEC and DTI
registered as a way of enticing the public to invest in the said entity, as shown below:
The public is hereby informed that
GLOBAL FINANCE TECHNOLOGY
is not registered with the Commission and is
not
authorized to solicit investments
from the public, not having secured prior registration
and/or license to sell securities or solicit investments as prescribed under Section 8 of the
Securities Regulation Code (SRC).
Further,
CIPRIANO S. BAYADOG III
has not been issued
a Certificate of
Registration
as
Associated Person, Compliance Officer, Salesman and/or Certified Investment Solicitor of
a Broker Dealer in Securities
Investment
, Investment House, Underwriter of Securities,
Investment Company Adviser, and/or Mutual Fund Distributor under
the Securities
Reg
ulation Code (SRC).
Those who act as salesmen, brokers, dealers or agents of the said entity in selling or
convincing people to invest in the investment scheme it is 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 imprisonment of Twenty One (21) years or both pursuant to Section
73 of the SRC (
SEC vs. Oudine Sant
os, 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 appropriate penalties and/or taxes be correspondingly
assessed.
In view thereof, the public is hereby adv
ised to exercise caution in dealing with any
individual or group of persons soliciting investments for and on behalf of
GLOBAL FINANCE TECHNOLOGY
.
The public is further advised
NOT TO INVEST
or to
STOP INVESTING
in the investment scheme being offered by the
subject entity or its representatives.
Should you have any information regarding the operation of the subject entity,
please call the Enforcement and Investor Protection Department (EIPD) at telephone
number 8
818
–
6047 or email at
[email protected]
or visit the EIPD at Ground Floor, North
Wing Hall, Secretariat Building, PICC Complex, Pasay City.
For the guidance of the public.
Pasay City, 15 June 2021