SEC Facebook

Based
on
reports and information gathered by the Commission, individuals or
group of persons
claiming to represent
SPBOSS/SPOWER/SUN PO
W
ER
,
are
enticing the
public, through social media to invest in said entity
.
SPBOSS/SPOWER/SUN POWER,
is a mobile application that can be downloaded
in
GOOGLE PLAYSTORE
. Based on the said mobile application,
SPBOSS/SPOWER/SUN
POWER
, is an investment management
platform.
As posted on the said mobile application, you can invest by registering first , then
you can choose from any of the eight (8) types of investment plan
worth Php8,000.00,
Php10,000.00, Php30,000.00, Php90,000.00, Php200,000.00, Php500,000.00 and
Php800,000.00
respectively valid for one (1) year. The investor can
earn
Php276.00 up
to Php32,000.00 daily earnings or Php100,740.00 up to Php11,826,000.00 profit
for one (1) year.
In this regard, the public is made aware that
an “
investment contract”
which is a
kind of security,
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
SPBOSS/SPOWER/SUN POWER
.
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 public.
Based on the Commission’s database,
SPBOSS/SPOWER/SUN POWER
,
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 se
curities defined under Section 3 of the Securities Regulation Code (SRC)
.
Further, the scheme employed by
SPBOSS/SPOWER/SUN POWER
has the
characteristics
of a
“Ponzi Scheme”
where
mon
ey
from new investors are used in paying
“fake profits” to prior invest
ors
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
NOT TO INVEST
or
to
STOP
INVESTING
in the investment scheme being offered by
SPBOSS/SPOWER/SUN POWER
,
and its
representatives.
Those who act as salesmen, brokers, dealers
,
agents
, representatives, promoters,
uplines, recruiters,
influencers, endorsers and enablers
of
SPBOSS/SPOWER/SUN
POWER
,
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 cr
iminally 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
)
.