The Securities and Exchange Commission (SEC) has recently issued an advisory (as seen below) on BROILERPRENUER 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.
The Commission has received information that individuals or groups of persons representing BROILERPRENUER CORPORATION doing business under the name BroilerPRENEUR are enticing the public to invest in the said entity online and through their website https://www.broilerpreneur.com/.
Per records of the Securities and Exchange Commission, BROILERPRENUER CORPORATION is registered in the Commission’s database as a stock corporation with company registration no. CS201908435. It was issued its certificate of incorporation on 27 May 2019. Its primary purpose To engage in, conduct and carry on the business of consumer services, production, buying, selling, distributing, direct selling, and online marketing at wholesale and retail of chix, chicken and other related products.
However, BROILERPRENUER CORPORATION is not authorized to solicit investments from the public as the above-mentioned corporation did not secure prior registration and/or license to solicit investment from the commission as prescribed under Section 8 of the Securities Regulation Code.
Accordingly, BROILERPRENUER CORPORATION is engaged in the poultry business employing the “farm to fork concept of broiler” and promises to the public 100% guaranteed return of investment. The business concept runs for 60 days and divided as follows:
⦁ 3 Days for the buying of chicks;
⦁ 45 Days breeding; and
⦁ 12 Days dressing plant and selling.
= Total of 60 days.
The said investment scheme is illustrated below:
Where the scheme involves the sale of securities to the public, the Securities Regulation Code (SRC) requires that the issuing person and/or entity must be a registered corporation with SEC, the said securities offered are duly registered and that the appropriate license and/or permit to sell securities to the public are issued to the corporation and/or its agents, pursuant to the provisions of section 8 and 28 of the SRC.
The public is hereby advised to exercise caution in investing their money in these types of schemes which may turn out to be Fraudulent Investment Schemes, involving the sale of unregistered securities.
Those who act as salesman, broker or agents of BROILERPRENUER CORPORATION in selling or convincing people to invest in the investment scheme being offered, including solicitations or recruitment 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) or imprisonment of Twenty One (21) years or both pursuant to Section 73 of the SRC.
Likewise, those who sell or offer securities the public, may be held criminally liable or accordingly sanctioned or penalized pursuant to the Supreme Court Decision in the case of Securities and Exchange Commission (SEC) Vs. Oudine Santos (G.R. No. 195542, 19 March 2014).
Should you have any information regarding the operations of the subject corporation, please call the Enforcement and Investor Protection Department at telephone numbers (02)818-6337 and (02)818- 5324.
For the guidance of the public.