SEC warns against JCRG, Mega Ultra, Cash Table
THE Securities and Exchange Commission (SEC) has warned the public against investing in three entities, which have not secured a license to offer securities.
In the advisory, the SEC said that JCRG Gold Trading has been enticing the public on social media to invest in different types of gold. Investors are then told to directly message the person offering investments.
JCRG has three investment plans named China Gold Complan, Saudi Gold Complan, and Japan Gold Complan, which start with an investment of P500 to P100,000.
Depending on their investment plans, JCRG investors are promised to earn up to P300,000 after 27 days.
Meanwhile, Mega Ultra Cash Trading was found to have been offering investment schemes ranging from P500 to P100,000 per account. Investors are supposed to earn as much as 3% daily for 20 days in Mega Ultra.
Cash Table Online Solution was also found to have been enticing investors on social media to invest in its “SM Hybrid Program.”
Investors in Cash Table are promised to earn as much as 120% in profit in just four days, after an initial investment of P500.
The SEC characterized the companies’ offering as a Ponzi scheme where monies from investors are used in paying “fake profits” to prior investors.
“Which is mainly to favor its top recruiters and prior risk takers and is detrimental to subsequent members in case of scarcity of new investors,” the SEC said.
In its review, the SEC found out that JCRG, Mega Ultra, and Cash Table are not registered as corporations nor as partnerships under the SEC and therefore are not authorized to solicit investments from the public. — Adrian H. Halili