The Securities and Exchange Commission (SEC) has recently issued an advisory (as seen below) on WBA DEVELOPMENT CORPORATION 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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In response to reports received by the Commission regarding the activities of
WBA DEVELOPMENT CORPORATION, WBA ADVERTISING, WEALTH BUILDER
ADVERTISING, WEALTH BUILDER ACCELERATOR, WEALTH BUILDERACCELERATOR-WBA ADVERTISING PHILIPPINES, and BTC (“WBA” for brevity) operated by LIBRADO PEREZ, OMAR DELA CRUZ, and NOE PEREZ., the Commission wishes to inform the public that WBA is NOT AUTHORIZED to solicit, accept or take
investments/placements from the public nor to issue investment contracts and other forms of securities defined under Section 3 of the Securities Regulation Code (SRC) because it does not have a secondary license from the Commission to solicit investments or other securities from the public for whatever purpose as provided under Sections 8 and 28 of the SRC.
Based on information gathered by the Commission, WBA offers the following
compensation plans (complans), to wit:
1. Revenue-sharing program with a minimum investment of Five Thousand
Pesos (Php 5,000.00) with referral bonuses such as:
a. Sign Up Bonus of Eight Hundred Pesos (Php 800.00);
b. Referral Link Bonus of One Thousand Five Hundred Pesos (Php 1,500.00)
by sharing the WBA complan to others;
c. Direct Referral Bonus of Three Hundred Pesos (Php 300.00);
d. Matching Bonus of Three Hundred Pesos (Php 300.00);
e. Indirect Bonus of Twenty Pesos (Php 20.00) for every 2nd to 6th level
referrals; and
f. Unilevel Bonus of Ten Pesos (Php 10.00) for the 1st to 10th level referrals.
2. Leveraging system by which investors can earn Five Percent (5%) from all
transaction made by their direct referrals and an additional One (1%) from
their second to seventh level referrals.
3. WBA Project Funding with a minimum investment of Ten Thousand Pesos
(Php 10,000.00) with a return of investment of Twenty Percent (20%) per
month.
In addition, the investors may ought to sell ostensible products bought from
WBA at a Forty Percent (40%) discount or let WBA sell such products for a retail profit
of Thirty-Five Percent (35%) to Sixty-Three Percent (63%) per month in lieu of an
optional lock-in system of Four (4) to Six (6) months;
Automobiles and condominium units are likewise promised to VIP
subscribers/investors of WBA.
According to sources, WBA plans to change its name to BTC and now offers to
double the investors’ monies after Ten (10) months.
The public is advised to exercise caution in dealing with any individuals or group
of persons soliciting investments for and on behalf of WBA or BTC and any entities
using similar schemes.
Those who act as salesmen, brokers, dealers or agents of WBA or BTC in selling
or convincing people to invest in the investment scheme being offered by these entities
including solicitations and 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 penalty of twenty-one (21) years of
imprisonment or both pursuant to Section 73 of the SRC.
Also, those who invite or recruit others to join or invest in such venture or offer
investment contracts or securities to the public may incur criminally liability, or
otherwise be sanctioned or penalized accordingly as held by the Supreme Court in the
case of Securities and Exchange Commission vs. Oudine Santos (G.R. No. 195542, March
19, 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.
Should you have any information regarding the operation of the subject entity,
please call the Enforcement and Investor Protection Department at telephone number
(02) 8818-6047 or send your report to the EIPD at epd@sec.gov.ph.
For the guidance of the public.
Pasay City, 25 November 2019
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