SEC Facebook

The Commission
has received information that
individual
s
or group of
persons representing an entity named
KINNEY INFOTECH CORPORATION
(
KINNEY
)
are enticing the public to invest their
money in the said entity with the
promise of high monetary rewards or profits.
Based on reports and the information gathered and verified by the
Commission
,
KINNEY
entices the public to invest by offering a
“PROJECT PLAN
”
starting from Php5,000
.00
(Basic Plus)
up to Php40
,000,000.00
(Supreme)
that
guarantees a return of up to Php93,000.00 within the period of six (6) months
.
As the above described scheme involves the sale of securities to the public,
the Securities Regulation Code (SRC) requires that these securities are duly
registered and that the concerned entities and/
or its agents have appropriate
registration and/or license to sell such securities to the public pursuant to Section 8
and 28 of the SRC.
The public is hereby informed that
while
KINNEY INFOTECH CORPORATION
is registered with the Commission as corporati
on, ho
wever, it is
NOT
AUTHORIZED
to offer, solicit, sell or distribute any investment/securities to
the public. Such activities require a Secondary License from the Commission and
the securities or investment product should likewise be registered with the
SEC
before they can be offered or sold to the public under Sections 8 and 12 of the
Securities Regulation Code (SRC).
Consequently, those who act as salesmen, brokers, dealers or agents of
KINNEY INFOTECH CORPORATION
in selling or convincing people to
invest in
their investment schemes including solicitations or recruitment through the internet
may likewise be prosecuted and held criminally liable under Section 28 of the SRC
and penalized with a maximum fine of Five Million Pesos (Php5,000,000.00) or
m
aximum penalty of Twenty
–
One (21) years imprisonment 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 liabi
lity, 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).
In view thereof, the public is hereby advised to
NOT TO INVEST
not
STOP
INVESTING
in the investment schemes being offered by
KINNEY INFOTECH CORPORATION
or its
representatives
.
Should you have any information regarding the operation of the subject
entities, you can send your report to the EIPD at epd@sec.gov.ph.
For guidance of the public.
Pasay
City, 09 December 2021