ORRO PLATTA MANNA CORPORATION
Posted 13 November 2018

ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT

SEC ADVISORY

The Commission has received information that individuals or groups of persons representing Orro Platta Manna Corporation are enticing the public to invest in said entity subject to the following compensation plan, to wit:

 

  • Upon placement of Php 300,000.00 investment, a client will be given a brand new Toyota Vios with a promise of receiving the principal investment within two (2) months at 10% weekly interest;
  • Upon placement of Php 200,000.00 investment, a client will be given a second-hand Vios as well as promise of receiving the principal investment within two (2) months at 20% weekly interest.

 

Based on a news report from the Baguio Midland Courier, the office of Orro Platta Manna Corporations has been padlocked by the Baguio City Hall for operating without a business permit and for presenting a Certificate of Registration from the SEC that was issued to another entity.

 

Based on the report from the Baguio City Police Office, they declared that the composite team of Police Station 2, City Investigation and Detection Management Unit and Intelligence Unit as well as personnel from the City Permit and Licensing Division of Baguio City effected the closure of the office of Orro Platta Manna Corporation for operating without a business Permit and for presenting a registration from the SEC that was issued to another entity. It was further reported that the investors of Orro Platta Manna Corporation were required to pay membership fees with a promise of receiving 20% weekly dividends from their investments.

 

Despite the closure of its office, solicitation of investments can still be done by those representing Orro Platta Manna Corporation at a different location or through the internet.

The public is hereby informed that Orro Platta Manna Corporation is not registered with the Commission as a corporation or partnership and is not authorized to solicit investments from the public as it has not secured prior registration and/or license to solicit investments from the Commission as prescribed under Section 8 of the Securities Regulation Code (SRC).

Those who act as salesmen, brokers, dealers or agents of Orro Platta Manna Corporation in selling or convincing people to invest in the investment scheme being offered by Orro Platta Manna Corporation including solicitations or recruitment through the internet may likewise be prosecuted and held criminally liable under Section 28 of the Securities Regulation Code and penalized with a maximum fine of Five Million pesos (P5,000,000.00) or imprisonment of Twenty One (21) years or both pursuant to Section 73 of the SRC.

Accordingly, those who invite or recruit other people to join or invest in this venture or offer investment contracts or securities to the public may be held criminally liable or accordingly sanctioned or penalized in accordance with the Supreme Court decision in the case of SEC vs. Oudine Santos (G.R. No. 195542, March 19, 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.

In view thereof, the public is hereby advised to refrain investing in these kinds of activities and to take the necessary precaution in dealing with Orro Platta Manna Corporation or its representatives.                       

Should you have any information regarding the operation of the subject entity, please call the Enforcement and Investor Protection Department at telephone numbers 818-6047 and 818-6337.

For the guidance of the public.