SEC Facebook

Based on
reports and
information gathered by the Commission,
the
investment
–
solicitation
activities of Mass
D
rop Marketing and Franchising OPC
(MassDrop)
and
MDM Ventures Corporation
(MDM Ventures) are
being continued under the name of
UP
–
MASS INNOVATIVE
MARKETING CORPORATION
/ UMIM CORPORATION
headed by its CEO
,
LOVE THADANI.
According to
the information received by this Commission
,
UP
–
MASS
INNOVATIVE MARKETING
C
ORPORATION
/ UMIM
CORPORATION
entices the
public to invest online or throu
gh the internet to become a member thereof
with
a
guaranteed return of
10% every month or 120% per annum with no limit to invest.
Accordingly, a member shall only need to invest, wait, and earn without having to
do anything.
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Further, it has come to the attention of the Commission that
purportedly,
UP
–
MASS INNOVATIVE MARKETING CORP
ORATION
/ UMIM CORPORATION
has
acquired
MassD
rop
and MDM Ventures Corporation
and those who invested with the
two corporations
are being offered
3 options
under the “transition” program
, namely:
1.
To be
a shareholder of
UP
–
MASS INNOVATIVE MARKETING CORP
.
/
UMIM CORPORATION
for payment of Php
100
,000.00;
2.
To opt for
pullout
of their in
vestment
s
with MassD
rop or MDM
Ventures
which matured as of August 13, 2021 but
they have
to wait for 12 months
or a year to get
their
money back; or
3.
To
invest with
UP
–
MASS INNOVATIVE MARKETING
C
ORPORATION
/
UMIM CORPORATION
wi
th a minimum of P1,000 to earn 10
% per month
(with no limit).
For the information of the public, MassDrop and MDM Ventures ha
d
been the
subject of separate SEC Advisories
previously
issued by the Commission and whose
Certificates of Registration as cor
porations had been
already
revoked.
As t
he above
–
described schemes
of
UP
–
MASS INNOVATIVE MARKETING
CORP
ORATION
/ UMIM CORPORATION
involved the sale of securities to the public
,
the Securities Regulation Code (SRC) requires that these securities are
duly registered
with the Commission
and that the concerned corporation and/or its agents have
appropriate registration and/or license to sell such securities to the public pursuant to
Section 8
and 28 of
the SRC.
That w
hile
UP-MASS INNOVATIVE MARKETING CORPORATION
was registered with this Commission on 15 September 2021, however,
contrary to its representation that it has a secondary license from the Commission, it is
not authorized to solicit investments from the public
as it did not se
cure prior
registration and/or license to solicit investments from the Commission as prescribed
under Section 8 of the Securities Regulation Code.
It is to be noted that the Certificate of Registration of
UP
–
MASS INNOVATIVE
MARKETING CORP
ORATION
/ UMIM CORPORATION
explicitly states
that:
“
This
Certificate DOES NOT AUTHORIZE INVESTMENT SOLICITATION AND INVESTMENT
–
TAKING WITHOUT A SECONDARY LICENSE FROM THIS COMMISSION
.”
Also
UP-MASS INNOVATIVE MARKETING CORPORATION’s primary pur
pose as reflected in its Articles of Incorporation
is
to:
“To buy, sell, trade, manufacture, deal in, and deal with goods, wares, and merchandise of
every kind and nature, and to carry on such business as wholesalers, retailers, importers,
and exporters; to acquire all such merchandise, supplies, materials, and o
ther articles as
shall be necessary or incidental to such business, and to have any and all powers, above
set forth as fully as natural persons, whether as a principal, agent, trustee, or otherwise;
Provided
that
the
corporation
shall
not
solicit,
accept
or
take
investments/placements from the public neither shall it issue investment contracts
.
“
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Hence, those who act as salesmen, brokers, dealers or agents or claim to act as
such for
UP-MASS INNOVATIVE MARKETING CORPORATION
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 maximum
fine of Five Million pesos (P5,000,000.00) 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 securitie
s to the public may incur criminally 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).
The public is
advised
NOT TO INVEST
or
STOP INVESTING
in any investment
scheme being offered by any individual or group of persons allegedly for or on behalf of
UP-MASS INNOVATIVE MARKETING CORPORATION
such as its CEO,
LOVE THADANI
and its incorporators
MARY ANN BONDAD,
MARITESS BASILIO
and
EMMANUEL ASUNCION
and to exercise caution in dealing
with any individuals or group of persons soliciting investments for and on
its behalf
.
Should you have any information regarding the operat
ion of the subject entity,
please call the Enforcement and Investor Protection Department at telephone numbers
(02
) 8818
–
6047 or send your report
to the EIPD at
epd@sec.gov.ph
.
For the guidance of the publi
c.
Pasay City,
04 January 2021