SEC warns against hidden treasures investment scam PDF Print E-mail
Tuesday, 20 May 2014 12:01

The Securities and Exchange Commission sternly warns the public to be wary of “too good to be true promise” of profit sharing from recovery of hidden treasures to investors by Advanced Recovery System, Inc. (ARSI), Asian Precious Metals, Inc. (APM1), Wyclif’f Trust and Ventures

The SEC’s Corporate Governance and Finance Department and the Markets and Securities Regulation Department have issued certifications that said corporations are NOT registered issuers of securities under Sec. 8 and 12 of the Securities Regulation Code thus, are NOT authorized to offer or sell securities to the public.

Further, ARSI was not issued a treasure-hunting permit by the National Museum-Cultural Properties Division and has neither filed further request nor application before the National Museum.

For guidance to the public, prior registration with SEC of investments and of the offerors and sellers of these investments is required under the Securities Regulation Code as a secondary license and NOT only the certificate of registration as a corporation. — SEC-ZEO Media Bureau