SEC Facebook

Th
is ADVISORY is prompted by reports and information gathered by the
Commission
that individuals or group of persons representing
WONKA CASH
which is being operated through
a
person or persons
using the pseudonym
“LUISITO TARUC
,
”
is enticing the public to invest in said entity.
Based on reports from the public and as posted on Facebook (FB) Page
(WonkaCash Official Group)
, WONKACASH
is enticing the public to invest in the
said entity with a promise of
One Hundred Percent (100%)
return
or
double
–
your
–
money
in just 12 days
.
The investor can invest a minimum amount of
Five
Hundred Pesos (Php500.00, Starter Package)
or up to
Two Hundred Thousand
Pesos (Php200,000.00, Max Level).
An investor can also earn from direct referral
ranging from 50% direct referral, and 10% bonus up to the 10
th
level.
The scheme of
WONKACASH
partakes of the
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 derive income therefrom.
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 Commission’s database,
WONKA CASH
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)
.
Further, the scheme employed by
WONKACASH
shows indication of a possible
“Ponzi Scheme”
where
monies from new investors are used in paying “fake profi
ts” 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 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
WONKA CASH
and its
representatives.
Those who ac
t as salesmen, brokers, dealers or agents of
WONKA CASH
in selling or convincing people to invest
in the investment scheme being offered by the said entity including soliciting investments or
recruiting investor
s 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 Sa
ntos, 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
WONKA CASH
and its representatives,
please send your
report through email at epd@sec.gov.ph
For the information and guidance of the public.
Pasay City
, 13 April 2021