SEC warns vs biz invesment scams PDF Print E-mail
Sunday, 04 September 2016 14:38

By ALLEN ABASTILLAS

The Security Exchange Commission has warned the public against investment scams involving product networking  or  business entrepreneurship networking.

SEC Central Office Legal Officer Atty. Lalaine P. Monserate advised prospective investors to assert their rights before engaging in any investment  or entrepreneurship.

“They should  always  assert their rights. They should always ask the basic things to know like  legality of the business, the address, officers of the firm, the registration of Security Exchange Commission, Dept. of Trade and Industry license,  contact number of the persons who are proposing to them and business permit and other legal documents for the business,” Monserate said during a press conference Friday.

“Dapat  alamin nila kung ang business proposal ay legal or bogus,” Monserate added.

She said what she mentioned are the basic things and information if they want to engage in business so that they will not fall victim to a business scam or pyramiding just like what happened in Pagadian City in which the local government unit, policemen, military personnel, government employees and ordinary people were victimized.

Worst some victims committed suicide because they lost their hard earned and precious money.

Monserate lamented what happened in Pagadian City because the full force of the government was present there, but people were blinded by quick ways or shortcuts  to earn money and the glib tongue of the promoter of the pyramiding scam.

“We appeal to the public  to stay away from  illegal investment most especially pyramid scam. Huwag po masilaw sa pera. We encourage people to come to our office and we will tell and assist on how to do business and we will give them the registration,”,Monserate said. — Allen Abastillas