The Securities and Exchange Commission (SEC) has recently issued an advisory (as seen below) on GLOBAL DREAM ZION, 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 precautions 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 fraudulent activities and potentially 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 a group of persons allegedly connected
with an entity named GLOBAL DREAM ZION are soliciting investments from the public.
Based on reports, the said entity offers to the public an investment with high returns of
20% - 30% interest rate per month based on the principal amount invested.
The public is hereby informed that GLOBAL DREAM ZION is not registered with the
Commission as a corporation or partnership and is not authorized to solicit investments from
the public as it has not secured prior registration and/or license from the Commission to solicit
investments as prescribed under Section 8 of the Securities Regulation Code (SRC).
Those who act as salesmen, brokers, dealers or agents of GLOBAL DREAM ZION in
selling or convincing people to invest in the investment scheme being offered by GLOBAL
DREAM ZION including solicitations or recruitment through the internet may likewise be
prosecuted and held criminally liable under Section 28 of the SRC and penalized with a
maximum fine of Five Million pesos (P5,000,000.00) or a maximum penalty of Twenty One (21)
years imprisonment or both pursuant to Section 73 of the SRC.
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 criminally 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, 19 March 2014).
Furthermore, the names of all those involved will be reported to the Bureau of Internal
Revenue (BIR) so that the appropriate penalties and/or taxes be correspondingly assessed.
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 GLOBAL DREAM
ZION.
Should you have any information regarding the operation of the subject entity, please
call the Enforcement and Investor Protection Department at telephone numbers 818-6047.
For the guidance of the public. 28 May 2019.
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