SEC Facebook

This ADVISORY is prompted by reports and information gathered by the
Commission
that
individuals
or
group
of
persons
representing
SHOPEE888//SHPOEE888
is enticing the public
through social m
edi
a platform or
through its website and email
shpoee888.com/app/
and
shpoee
888@g
mail.com
, to
invest in said entity.
As posted on its w
ebsite,
investors
can
join
by registering first, then
they
can
choose from any of the ten (10)
VIP Levels
with cor
responding task
s:
VIP 1 worth
Php500.00, VIP 2 worth Php2500.00, VIP 3 worth Php10,000.00, VIP 4 worth
Php40,000.00, VIP 5 worth Php100,000.00, VIP 6 worth Php250,000.00, VIP 7
worth
Php500,000.00,
VIP
8
worth
Php1,500,000.00,
VIP
9
worth
Php2,500,000.00
and
VIP 10 worth Php5,000,000.00
accordingly. The investor can
earn
8
% up to 20% daily after completing the task
. An investor can also earn from
Php200.00 up to Php500,000.00 from Tier Bonus and for Direct Bonus.
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
SHOPEE888//SHPOEE888.
As such, the Securities Regulation Code (
SRC) requires that said 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.
Based on the C
ommission’s database,
SHOPEE888//SHPOEE888,
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 an
d other
forms of securities defined under Section 3 of the Securities Regulation Code (SRC)
.
SHOPEE888//SHPOEE888 also does not appear to be connected with
Shopee
Philippines Inc. with website shopee.ph.
Further, the scheme employed by
SHOPEE888 //SHPOEE88
8
,
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 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 Securi
ties 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
SHOPEE888 //SHPOEE888
and
its
representatives
.
Those
who
act
as
salesmen,
brokers,
dealers
or
agents
of
SHOPEE888//SHPOEE888,
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 inter
net 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. 1955
42, 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
o
f
SHOPEE888 //SHPOEE888
,
and its representatives,
please send your report through
email at epd@sec.gov.ph
For the information and guidance of the public.
Pasay City, 21 December 2021