SEC Facebook

Th
e
Commissio
n has received information that
PHtop
is engaged in
UNAUTHORIZED
investment
–
taking activities.
PHtop
’
s
platform
allegedly
uses information technology and the internet era to
integrate network promotion, online marketing, offline infrastructure, financial
investment,
and
other projects which
it claims
uses the efficiency of the internet to
rebuild the business empire,
and at t
he same time uses internet data to rewrite the future. According to
PHtop
,
this
development trend is inevitable
. He
nce,
PHtop
claims that it
will be at the forefront of the
industry and lead the internet.
The company
is
headed by
ALEX REYES O
YO
–
A
, who entices the public to join the
company by purchasing a “
VIP MEMBERSHIP INCOME
.
”
Each VIP is valid for one
(1)
year
or Three Hundred Sixty
–
Five Days
(365 days).
VIP members of any level
can recover all
investment costs within 35 days. The next
330 days are net profit
as shown in the table
below:
An investor can also earn
the following
:
(1)
2
–
8%
Invitation reward
;
(2)
3
–
6% Commission for the task completed
every day
;
a
nd
(3)
Maturity options for the fixed investment wherein each maturity corresponds to a
different daily income.
Briefly, an “
investment contract”
exists when there is an investment or placement of
money in a common enterprise with a reasonable expectat
ion of profits to be derived from the
efforts of others which is prominent in the scheme of
PHTOP
.
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 sel
l such securities to the
public.
Based on the Commission’s database,
PH
top
,
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 p
ublic nor to issue
investment contracts and other forms of securities defined under Section 3 of the S
RC
.
Further, the scheme employed by
PHTOP
,
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 Commission reminds the public that t
he offering and selling of s
ecurities 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
NOT TO INVEST
or to
STOP INVESTING
in the investment scheme being offered by
PHTOP
,
and its
representatives.
Those who act as salesmen, brokers, dealers or agents of
PH
top
,
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 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
).
Should you have any information regarding the oper
ation of
PHTOP
,
and its
representatives, please send your report through email at
epd@sec.gov.ph
For the information and guidance of the public.
Pasay City, 27 January 2022