SEC Facebook

This ADVISORY is prompted by reports and information gathered by the Commission
concerning the activities of individuals or group of persons
enticing the public
through social
media platform
s
or through their own independent websit
es, to invest in their platform in a
scheme known as “
RECHARGING AND TASKING SCAM.
”
Based on the information gathered by this Commis
sion,
RECHARGING AND TASKING SCAM
S are conducted as follows:

Individuals
or group of persons are posting their scheme or
modus operandi
in their
independent websites.

They offer purported online jobs through their E
–
Commerce Platforms like grabbing
orders as the identified task.

Then they will discus/introduce to investors
that the latter can also
invest
in the said
platform
by registering
/enrolling
first
through their platforms.

Investors
then choose from any
PACKAGES, LEVELS or VIP Levels
ranging from
Php100.00 up to Php
50,000.00
and
simply “Recharge” or pay, deposit or
remit money.
The investor can earn 2% up to 8% commission rate/b
onus a
nd the investor can also
earn through invitation reward amounting t
o Php10,000.00 to Php100,000.00,
depending on how many
they will be able to
invite
or those eventually
avail
ing of
t
he
said packages, levels or VIP levels.

These individuals or group of persons are using/copying the E
–
Commerce Platforms of
known online players such as AMAZON, SHOPEE, LAZADA, EBAY and the like and they
pretend that they are connected with these entiti
es by presenting I.D.s and DTI
Certificates of Authorization.

This kind of scam will last
just
up to a month. The
reafter, the
websites or links used by
perpetrators for operation cannot be accessed anymore. Then these individuals or group
of persons wil
l change the name of their entities and websites.
RECHARGING AND TASKING
SCAMS
involve
the
offering and sale of securities
in the form of “investment contract
s
” as defined under Section 3.1 of the Securities
Regulation Code.
A
n
investment contract
exis
ts
in
RECHARGIN
G AND TASKING
SCAMS
as
there is an investment or placement of money
(
minimum amount of
Php100.00 to a maximum of Php50,000.00 pesos
)
in a common enterprise with a
reasonable expectation of profits to be derived from the effor
ts of others.
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.
Further,
RECHARGING AND TASKING
SCAMS
,
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 pr
ior 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
NOT TO INVEST
or
STOP
INVESTING
in this
RECHARGING AN
D TASKING
SCAMS
and its
representatives.
Those who act as salesmen, brokers, dealers or agents of
RECHA
RGING AND
TASKING SCAMS
,
in selling or convincing people to invest in the
aforementioned
investment scheme including soliciting investments or recruiti
ng 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 info
rmation regarding the operation of
these
RECHARGING AND TASKING SCAMS
,
and its representatives,
please send your report through email
at
epd@sec.gov.ph
.
For the information and guidance of the public.
Makati City,
12 July 2022