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THE GREEN SHOP
THE GREEN SHOP is not registered with the Commission as a corporation nor as a partnership

Date Posted: 14 September 2021

THE GREEN SHOP

THE GREEN SHOP

SEC Facebook

Based on information gathered by the Commission, a number of individuals or
group of persons claiming to represent
THE GREEN SHOP
headed by its CEO,
F
ounder
and P
resident
,
SOLOMON SAJOR
are enticing the public to invest their money in the said
entity.
As posted online,
THE GREEN SHOP
is enticing the public to invest with a
minimum investment of Php 1,000.
Likewise, the following
are
the
di
fferent ways to earn
through
THE GREEN SHOP
: 1) Passive Income 2) Direct Referral Bonus
and
3) Product
Selling.
The compensation plan provides for the different ways to earn passive income
which entitles the investor to earn
(1)
4% daily income
;
(2)
50% investment share
income
comin
g from those who invested to be di
vided equally to all investors;
(3)
25% of the product sales
for the day shall also be divided to all investors
; and
(4)
10% payback share income
which
shall co
me from an upline who
earns
from a
downline.
According to its founder and CEO, Mr. Sajor, the
“i
deology

of the compensation
plan of the green shop came from the concept of
“SHARING”
.
In addition,
THE GREEN SHOP
promises additional income in the recruitment of
new investors
with the
promise
of
Php 100 for every 1 direct referral, Php 400 for every
2 direct referrals, Php 500 for every 4 direct referrals, Php 600 for 6 direct referrals and
Php 1,000 for every 10 d
irect referrals which qualifies you to power leader level.
Considering that the above described schemes of
THE GREEN SHOP
involve the
sale of securities to the public, the Securities Regulation Code (SRC) requires that these
securities are duly registered
with the Commission
and that the concerned corporation
and/or its agents have appropriate registration and/or license to
sell such securities to
the public pursuant to Section 8 of the SRC.
The records of the Commission show
that
THE GREEN SHOP
is
not registered
with the Commission as
a
c
orporation nor as a partnership. Further, it is not authorized
to solicit investments
from the public since it has not secured prior registration and/or
license from the Commission as prescribed under Section 8 and 28 of the Securities
Regulation Code.
Further,
THE GREEN SHOP
is also not registered either as a crowdfunding
intermediary or
a funding portal under SEC Memorandum Circular No. 14 Series of 2019
or the Rules and Regulations Governing Crowdfunding.
The public is reminded that any offer or promise of ridiculous rates of return
with little or no risk similar to what
THE GREEN SHOP
is offering is an indication of a
possible
Ponzi Scheme
where returns to early investors are likely to be paid out from the
investment of new investors and not out of the companies’ profits similar to those already
flagged by the Commission as scams.
Ent
ities engaged
in such
operation tend to close or to shut down operations
once they cannot gather enough investments to
fund their schemes due to the
scarcity of new investors.
The public is again informed that the offering and sale of such
s
ecurities in the
form of
inve
stment contracts using a
“Ponzi Scheme” is fraudulent and
unsustainable and is
NOT
a registrable security. The Commission
shall
NOT ISSUE
a
License to Sell Securities to the Public to persons or entities that a
re engaged in this
kind
of
business
es
or scheme
s
.
May
this also serve as a warning
to the public to always exercise extreme
caution before making or placing their monies on entities that offers “too good to be true”
investment packages similar to
THE GREEN SHOP
especially during this pandemic.
Accordingly, the Commission warns all unscrupulous individuals and/or entities
that strict penalties
shall be imposed
for violations
of
the Securities Regulation Code, the
Revised Corporation Code, and s
uch other rules
and regulation enforced by
it.
Hence, t
hose who act as salesmen, brokers, dealers or agents of unauthorized
entities in selling or convincing people to invest in their
investment scheme
including
solicitations and recruitment th
rough the internet, may likewise be criminally
prosecuted and penalized with a maximum
fine of Five Million P
esos
(P5,000,000.00) or a penalty of Twenty

one (21) years of imprisonment or both pursuant
to Sections 28 and
73 of the SR
C.
Similarly, those
who invite or
recruit others to join or invest in such venture or
offer investment
contracts or securities to the
public
may incur
cri
minally liability, or
otherwise be sanctioned or penalized accordingly as held by the Supreme Court
in the
case of
SEC vs. Oudine Santos
(G.R. No. 195542, 19 March 2014).
The names of all those involved will also be reported to the Bureau of Inter
nal
Revenue (BIR)
so that the appropriate penalties and/or taxes be assessed
correspondin
gly.
Should you have any information regarding any investment solicitation
activity by any individual or group of individuals representing
THE GREEN SHOP
,
please send your report to the EIPD at
epd@sec.gov.ph
.
For the guidance of the public.
Pasay City, 14
September
2021