SEC Facebook

Based
on
reports and information gathered by the Commission, individuals or
group of persons
claiming to represent
GAMELOOT ADVERTISING SERVICES
are
enticing the public, through social media to invest in said entity
.
Based on its
website,
GAMELOOT ADVERTISING SERVICES
offers you the luxury
of earning while playing the games provided by
GAMELOOT NETWORK.
Y
ou can invest
in
GAMELOOT ADVERTISING
SERVICES
by reg
i
s
tering first, then
you can
choose from any of the Six (6
) types of
Games. In every game you choose
,
there
is a corresponding subscription fee
worth Php1,000.00 up to Php250,000.00.
The
investor can earn from
50% up to 150% profit after 8 days, or after 28 days
depending on the games they choose
to subscribe
to
.
A
lso
an
investor can earn
10% for
every referral subscription, 2% party b
o
n
u
s
and
2.5% cashback 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
GAMELOOT
ADVERTISING SERVICES
.
As such, the Securities
Regulation Code (SRC) requires that said offer and
/or
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 publ
ic.
Based on the Commission’s database,
GAMELOOT ADVERTISING SERVICES
,
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
GAMELOOT ADVERTISING SERVICES
has the
characteristics
of a
“Ponzi Scheme”
where
mon
ey
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 Securities to the Public to persons or
entities that are engaged i
n 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
GAMELOOT ADVERTISING
SERVICES
,
and its
representatives.
Those who act as salesmen, brokers, dealers
,
agents
, representatives, promoters,
uplines, recruiters, influencers, endorsers and enablers
of
GAMELOOT ADVERTISING SERVICES
,
in selling or convincing people to invest in the investment scheme being
offered by the said entity including soliciting investme
nts 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
GAMELOOT ADVERTISING SERVICES
,
and its representatives,
please send your report through email
at
epd@sec.gov.ph
.
For the information and guidance of the publ
ic.
Makati City, 13
December 2022
.