SEC Facebook

This ADVISORY is prompted by reports and information gathered by the Commission
that individuals or group of persons representing
REPOSCO TRADING
which is being operated by
BENJAMIN MARI LIMJAP
is enticing the public to
invest in said entity.
Based on information gathered by the Commission,
REPOSCO / REPOSCO TRADING
LTD / REPOSCO.IO
claims that it uses
blockchain
technology to offer decentralized and
democratized investment plans that promise weekly dividends by having it invested in
sports arbitrage, forex, and oil options.
A
ll investments will
allegedly
be tagged as REPOSCO
funds that will operate for
three year
s, during which period
investors
will enjoy weekly
dividend and
profits earned will be used to reinvest in the funds and to repurchase tokens
thereby guaranteeing that the portfolio’s value grows consistently.
Further
,
news reports also show
that
BENJAMIN MARI LIMJAP
personally defrauded
numerous investors in the Philippine
s
by collecting investments from them with a promise
of twenty percent (20%) return of investment in a ninety (90) day period maturity.
The scheme of
REPOSCO /
REPOSCO TRADING
LTD /
REPOSCO.IO
,
partakes of
offering and sale of securities in the form of investment contracts to the public as its
investors need not exert any effort other than to invest or place monies in its operation in
order to receive profits.
The Securities R
egulation Code (SRC) requires that the offer and sale of securities
must 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.
However, based on the Commission’s database,
REPOSCO TRADING
,
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 Securities Regulation Code (SRC)
.
REPOSCO /
REPOSCO TRADING LTD /
REPOSCO.IO
,
is also
NOT REGISTERED
either as a crowdfunding intermediary or a fundi
ng portal under SEC Memorandum Circular
No. 14, Series of 2019 or the
Rules and Regulations Governing Crowdfundin
g.
Further, the scheme employed by
REPOSCO TRADING
,
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 detrimental to subsequent members in case of
scarcity of new investors.
The offering and selling of securi
ties 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
REPOSCO TRADING
,
and its
representatives.
Accordingly, the Commission warns all unscrupulous individuals and/or entities that
strict penalties are imposed for v
iolations of the
Securities Regulation Code, the
Revised Corporation Code, and such other rules and regulation enforced by the
Commission
.
Those who act as salesmen, brokers, dealers or agents
REPOSCO TRADING
,
in selling or convincing people to invest in the investment
scheme being offered by the said entity 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 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 information regarding the operation of
REPOSCO TRADING
,
and its representatives,
please sen
d your report through
email at epd@sec.gov.ph
For the information and guidance of the public.
Pasay City, 0
8
June 2021