The Securities and Exchange Commission (SEC) has released advisories warning the public against investing in an online marketplace and a poultry firm.

The SEC said in its June 28 advisory that it had received information about Unlishop E-commerce Advertising System Company (Unlishop) inviting the public to invest in the company “by selling online account codes and recruiting other individuals to join the investment scheme.”
In another advisory, the SEC warned the public about Requiza Poultry also known by its many names like Requiza Poultry, Requiza Farm and Requiza Agricultural Products Trading, enticing the public to place investments in their company with a promise of a 40% to 50% return o the capital every 60 days.

On its website, Requiza Poultry says it is engaged in the poultry business and promises the public a 50% guaranteed return o their investments. It wants prospective investors to purchase a minimum of thirty-five (35) chicks for P3,500 and after sixty days, the investor will get back his investment and a profit of 50% of the capital.

SEC said Unlishop and Requiza Poultry are not authorized to solicit investments from the public as these companies did not secure an appropriate license from the SEC to conduct such a business.

The agency reiterated that “those who act as salesmen, brokers, dealers or agents of these companies in selling or convincing people to invest in the investment scheme being offered by these entities including solicitations and 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 penalty of twenty-one (21) years of imprisonment or both pursuant to Section 73 of the SRC.”

“The public is hereby warned that such investment schemes are considered as securities subject to the regulatory authority of this Commission. The recruitment of investor members under the guise of sponsoring a person into the system or platform is likewise considered a form of investment solicitation or a sale of securities,” the SEC said. (Rommel F. Lopez)