HUSTLIN BULLIES is NOT REGISTERED as a corporation or partnership and OPERATES WITHOUT THE NECESSARY LICENSE AND/OR AUTHORITY to solicit, accept or take investments/placements from the public
Date Posted: 14 September 2021
HUSTLIN BULLIES
Th
e Commission has received numerous reports regarding the activities of
an
entity named
HUSTLIN BULLIES
which
is engaged in investment
–
taking activities.
Based on
information
gath
ered
by the Commisison
,
HUSTLIN BULLIES
is
enticing the p
ublic to participate in its dog
–
breeding program, buy and sell program,
clothing line program and construction business program.
An investor may opt to invest
any amount more than
Twenty Thousand Pes
os (Php20,000.00)
as they do not limit the
maximum investment an individual can invest
, w
ith
48% guaranteed Return On
Investment (ROI) for the period of 6 months.
Briefly, an “
investment contract”
exists when there is an investment or placement
of money
in a common enterprise with a reasonable expectation of profits to be derived
from the efforts of others
which is prominent in
the scheme of
HUSTLIN BULLIES.
As such, the Securities Regulation Code (SRC) requires that said offer and sale of
securities mus
t 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.
Based on the Commission’s database,
HUSTLIN BULLIES
,
is
NOT REGISTERED
as a corporation or partnership
and
OPERATES WITHOUT THE NECESSARY LICENSE
AND/OR AUTHORITY
to solicit, accept or take investments/placements from the
public nor to issue investment contracts and other forms of securities defined under
Section 3 of the Se
curities Regulation Code (SRC)
.
Further, the scheme employed by
HUSTLIN BULLIES
,
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 rec
ruiters and prior
risk takers and is detrimental to subsequent 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 issue 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
HUSTLIN BULLIES
,
and its
representatives.
Those who act as salesmen, brokers, dealers or agents of
HUSTLIN BULLIES
,
in
selling or convincing people to invest in the investment scheme being offered by the
said entity including soliciting i
nvestments 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
).
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.
Shou
ld you have any information regarding the operation of
HUSTLIN BULLIES
,
and its representatives,
please send your report through email at [email protected]
For the information and guidance of the public.
Pasay City, 14 September 2021