SEC Facebook

This ADVISORY is prompted by reports and information gathered by the
Commission that individuals or group of persons representing
PHMALL/PHMALL.APP
,
is enticing the public to invest in said
entity.
As
posted
on
the
Website
https://www.phmall.app/dist/?fbclid=IwAR1hvk6JkUAl0uozlYWnYEBUoAolNRdY7pArn0
Wx3UVCUgIp4zjCeWGmHzE#/
,
investors
can
join
by registering first, then
they
can
choose from any of the six (6)
VIP PLANS
with correspondi
ng 20 daily grabbing orders,
VIP1, worth Php100.00m (free upon signing), VIP2, worth Php1,000.00, VIP3,
worth Php5,000.00, VIP4, worth Php30,000.00, VIP5, worth Php80,000.00
and
VIP6 worth Php200,000.00
accordingly. I
nvestor
s
can earn
Php320.00
to
Php240,
000.00
monthly depending on what plan they get.
I
nvestor
s
can also earn from
direct order rebate 10%, an
d 5% for indirect order rebate and i
nvitation reward
s
from
Php100.00
to
Php200,00.00.
And lastly,
investor
s
can also earn from shared bank financia
l
(wealth management expert) from 1.00% for 7
–
day period of purchase and up to 5.00% for
180
–
day period of purchase.
Briefly, an “
investment contract”
exists when there is an investment or placement
of money in a common enterprise with a reasonable expe
ctation of profits to be derived
from the efforts of others
which is prominent in the scheme of
PHMALL/PHMALL.APP.
As such, the Securities Regulation Code (SRC) requires that said offer and sale of
securities must be duly registered with the Commission an
d 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,
PHMALL/PHMALL.APP
,
is
NOT
REGISTERED
as a corporation or partnership
and
OPER
ATES 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 Securities Regulation Code (SRC)
.
Further,
the scheme employed by
PHMALL
,
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 recruiters and prior
risk takers and is de
trimental 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
NOT TO INVEST
or
to
STOP
INVESTING
in the investment scheme being offered by
PHMAL
L/PHMALL.APP
,
and its
representatives.
Those
who
act
as
salesmen,
brokers,
dealers
or
agents
of
PHMALL
,
in selling or convincing people to invest in the investment
scheme being offered by the said entity including soliciting investments or recr
uiting
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
(
SE
C 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.
Should
you
have
any
in
formation
regarding
the
operation
of
PHMALL
,
and its representatives,
please send your report through email
at epd@sec.gov.ph
For the information and guidance of the public.
Pasay City, 28 October 2021