SEC Facebook

The Securities and Exchange Commission (“Commission”) has received
information that individuals or group of persons representing
DRAGONFLY PHILIPPINES INC
(known in social media as
“DRAGONFLYTECH”
)
have been soliciting
investments from the public.
DRAGONFLY PHILIPPINES INCentices the public to invest online or through the internet by
paying an amount ranging from Php500.00 to Php100,000.00 supposedly in exchange for
products.
However, the supposed products are in reality an investment scheme, to wit:
Product
Name
Amount of
Investment
% of Daily
Income for
100 days
Total Earnings
for
100 days
Total % of
Earnings for
100 days
Conventional
DRG
–
01
Php500.00
5%
Php2,500.00
500%
DRG
–
02
Php1,000.00
6%
Php6,000.00
600%
DRG
–
03
Php5,000.00
7%
Php35,000.00
700%
DRG
–
04
Php10,000.00
8%
Php80,000.00
800%
DRG
–
05
Php50,000.00
9%
Php450,000.00
900%
DRG
–
06
Php100,000.00
10%
Php1,000,000.00
1,000%
Balance
DRG
–
V1
Php10,000.00
12%
Php120,000.00
1,200%
DRG
–
V2
Php50,000.00
15%
Php750,000.00
1,500%
DRG
–
V3
Php100,000.00
18%
Php1,800,000.00
1,800%
Under the Conventional Product investment, an investor must “Recharge” to the
entity’s application/App, that is,
one must deposit an amount which would cover the
amount of the investment and
earn
ranging from 500% to as high as 1,000% in just
100 days.
On the other hand, the Balance Product scheme promises income ranging from
1,200% to 1,800% in just 100 days.
The schemes of
DRAGONFLYTECH
fall within the definition and category of Ponzi
scheme. There is clearly no legitimate source of income from where the promised earnings
to its members shall be generated except from the investments of incoming membe
rs.
DRAGONFLY PHILIPPINES INC.
nor
DRAGONFLY PHILIPPINES INC are not
authorized
to solicit
investments from the public as these entities are
NOT REGISTERED
with the Commission
and cannot therefore secure prior registration and/or license to solicit investments from t
he
Commission as prescribed under Section 8 of the Securities Regulation Code.
Please be reminded that the offering and sale of such securities in the form of
investment contracts using the
“Ponzi Scheme”
is fraudulent and unsustainable and is
NOT
a
registrable security
.
The Commission will NOT ISSUE a Permit to Offer and Sell
Securities to the Public to persons or entities that are engaged in this business or
scheme
.
Accordingly, the Commission warns all unscrupulous individuals and/or entities
that
strict penalties are imposed for violations of the Securities
Regulation Code, the
Revised Corporation Code of the Philippines and such other laws, rules and
regulations en
forced by the Commission
.
Hence, those who act as salesmen, brokers, dealers or agents or claim to act as such of
DRAGONFLY PHILIPPINES INC./DRAGONFLYTECH
in selling or convincing people to
invest in the investment scheme being offered by said entity including solicitations and
recruitment through the internet
may be prosecuted and held criminally liable
under
Section 28 of the SRC and
penalized
with a maxim
um fine of Five Million pesos
(Php5,000,000.00) or penalty of Twenty
–
one (21) years of imprisonment or both pursuant
to Section 73 of the SRC.
Also, those who invite or recruit others to join or invest in such venture or offer
investment contracts or se
curities to the public may incur criminal liability, or otherwise be
sanctioned or penalized accordingly as held by the Supreme Court in the case of
Securities
and Exchange Commission vs. Oudine Santos (G.R. No. 195542, 19 March 2014)
.
In view thereof, th
e public is advised
NOT TO INVEST or STOP INVESTING
in any
investment scheme being offered by
DRAGONFLY PHILIPPINES INC./DRAGONFLYTECH
as well as to any other entities having the same or similar schemes
and to exercise caution
in dealing with any individua
ls or group of persons soliciting investments or recruiting
investors for and on behalf of
DRAGONFLY PHILIPPINES INC./DRAGONFLYTECH
.
Should you have any information regarding any investment solicitation by any
individuals or group of individuals on behalf of
DRAGONFLY PHILIPPINES
INC./DRAGONFLYTECH
,
please send your report to the ENFORCEMENT AND INVESTOR
PROTECTION DEPARTMENT at
epd@sec.gov.ph
.
For the guidance of the public.
Pasay City, 12 May 2022