MUNIFICENCE MINISTRY
Posted 07 June 2019

SEC ADVISORY

 

The Commission has received information that MUNIFICENCE MINISTRY, representing itself as a non-profit organization and operating under INTERDENOMINATIONAL EVANGELICAL CHURCH MINISTRIES, INC. with activities in Mindanao particularly in the cities of General Santos and Tagum, is enticing the public through social media to invest by offering generous interest income.

 

Based on public posts of MUNIFICENCE MINISTRY, it represents that it is registered with the Commission under SEC Registration Number CN201328348 and it offers investment to the public with “45% monthly payout, 45% lock-in 4 months”.

 

The investment scheme in particular is illustrated as follows:

 

MUNIFICENCE CALCULATOR
ENTRY MONTHLY 4TH MONTH SAVED-IN
5,000 2,250 22,102
10,000 4,500 44,205
15,000 6,750 66,307
20,000 9,000 88,410
30,000 13,500 132,615
50,000 22,500 221,025
100,000 45,000 442,050
200,000 90,000 884,101
300,000 135,000 1,326,151
500,000 225,000 2,210,253

 

In the table given, it appears that the “4th Month Saved-in” which represents the value of investment after the lock-in period of four (4) months is computed as the sum of  the “Entry” or amount invested and its corresponding interest compounded at 45% for four (4) months.

 

The public is hereby informed that SEC Registration Number CN201328348 belongs to INTERDENOMINATIONAL EVANGELICAL CHURCH MINISTRIES, INC., a religious non-stock corporation registered with the Commission as a religious organization.  MUNIFICENCE MINISTRY on the other hand, is not registered with the Commission as a corporation or partnership.

 

It is to be emphasized that both INTERDENOMINATIONAL EVANGELICAL CHURCH MINISTRIES, INC. as a religious organization and MUNIFICENCE MINISTRY, which operates under the former, are not authorized to solicit investments from the public and any application for registration to solicit investments shall not be allowed by the Commission under the circumstance.

 

Section 8.1 of the Securities Regulation Code (SRC) provides that securities, such as investment contracts[1], shall not be sold or offered for sale or distribution within the Philippines unless registered with the Commission.  Moreover, Section 28 of the Securities Regulation Code (SRC), prohibits any person from engaging in the buying or selling of securities in the Philippines as a broker, dealer, salesman or associated person of a broker or dealer unless registered as such with the Commission.

 

Accordingly, those who invite or recruit other people to join or invest in this venture or offer investment contracts or securities to the public maybe held criminally liable or accordingly sanctioned or penalize in accordance with the Supreme Court decision in the case of SEC vs. Oudine Santos (G.R. 195542, 19 March 2014).

 

In view thereof, the public is ADVISED take the NECESSARY PRECAUTION in dealing with the above-named entity and/or its representatives and to STOP INVESTING in this kind of investment activity.

If you have invested money or have been invited to invest in MUNIFICENCE MINISTRY, please report this matter to the Commission’s Head Office or Extension Offices in order that appropriate action can be taken against the entity and/or individuals.  You may also seek the assistance of our SEC Regional and/or Provincial Offices located at the following addresses, namely:

 

  1. SEC – Davao Extension Office with office address at SDC Building, Purok 13, Maa Road, Maa, Davao city or you may call telephone numbers (082) 298-2170 and (082) 298-1893.

 

  1. SEC – Cagayan de Oro Extension Office with address at SEC Building, corner 14th and Tomasaco Del Lara Street, Cagayan de Oro City or you may call telephone numbers (088) 857-4325 and (088) 857-7225.

[1] Rule 26.3.5 of the 2015 Implementing Rules and Regulations of the SRC – xxx An investment contract means a contract, transaction or scheme (collectively “contract”) whereby a person invests his money in a common enterprise and is led to expect profits primarily from the efforts of others.  An investment contract is presumed to exist whenever a person seeks to use the money or property of others on the promise of profits. xxx