The Securities and Exchange Commission or SEC has recently issued an advisory here (as seen below) on BIBLI ONLINE STORE warning the public of the individuals and groups involved in such activities. The advisory defines the activities behind the scheme, and advises the public to take precaution in joining or investing in these groups.
In support of this view, Coins.ph does not endorse or is affiliated in any way with such activities or products. Moreover, we have a zero tolerance policy on fraud and scamming practices. In a separate article, we have enumerated tips on how you can avoid investment schemes and other online scams. We urge our customers to be extra diligent with their funds and to act within our User Agreement.
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The Commission has received information that individuals or group of persons representing
BIBLI ONLINE STORE are offering investments to the public and claiming to be engaged in Direct
Selling and Direct/Affiliate Marketing.
Per records of the Securities and Exchange Commission, BIBLI ONLINE STORE is not
registered as a corporation or partnership and is not authorized to solicit investments from the
public as the above-mentioned entity did not secure prior registration and/or license to solicit
investment from the Commission as prescribed under Section 8 of the Securities Regulation Code.
Furthermore, in order to become an affiliate of BIBLI ONLINE STORE, the investor must
sign up in their website www.mybiblios.com and purchase an Activation Code worth P800 and
Activation Pin worth P295.
Additionally, after an investor becomes an affiliate, he/she becomes entitled to the
following Compensation Plan:
- Sign-up Bonus - upon signing-up, the affiliate will immediately earn a bonus of
P100; - Log-in Bonus per day - every log-in to their account in the Bibli Online Store
Website entitles an affiliate to earn P100 per day for a maximum of seven (7)days; - Referral Bonus - an affiliate also earns P100 for every person he may
sponsor/recruit to the system; - Levelling Bonus - every filled-up level in the affiliate’s binary plan/network,
entitles the affiliate to earn an additional of P400 per level. This bonus is granted up
to the 10th level of the affiliate’s network; - Binary Bonus - the affiliate also earns P100 for every pairing in the binary
structure. The said company allows a binary/pairing bonus of 30 per day which is
equivalent which is equivalent to P3,000; - Special Bonuses - when the affiliate’s binary plan/network reaches a certain
number of total pairing in the binary structure, the following are the special
bonuses:
- Star Diamond Achiever - when an affiliate’s network reaches
cumulative pairs of 500, he can get a brand new mobile phone of his own
choice worth P20,000; - 2 Star Diamond Achiever - when an affiliate’s network reaches
cumulative pairs of 1,000, he can get a brand new Laptop of his own
choice worth P30,000; - 3 Star Diamond Achiever - when an affiliate reaches cumulative pairs
of 1,500, he can get a family vacation to a place of his own choice worth
P50,000; - 4 star Diamond Achiever - when affiliate’s network reaches cumulative
pairs of 2,000, the company will shoulder the affiliate’s down payment
for a brand new car of his own choice worth P75,000.
- Star Diamond Achiever - when an affiliate’s network reaches
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 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).
In view thereof, the public is hereby advised to exercise prudence before investing
in these kinds of activities and to take the necessary precaution in dealing with BIBLI
ONLINE STORE 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 number 818-
6337 and 818 5324.
For the guidance of the public.
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