The Securities and Exchange Commission (SEC) has recently issued an advisory (as seen below) on UNLISHOP E-COMMERCE ADVERTISING SYSTEM, 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 Securities and Exchange Commission (Hereafter “Commission”) has received information that individuals or group of persons representing UNLISHOP E-COMMERCE ADVERTISING SYSTEM COMPANY DOING BUSINESS UNDER UNLISHOP E-COMMERCE
ADVERTISING SYSTEM (Hereafter “UNLISHOP”) are enticing the public to invest in the said entity online or through the internet.
Per records of the Commission, UNLISHOP is registered as a partnership headed by Hector John Hemady Dollero and Ryan Guerrero Hemady. Its primary purpose is “to engage in the business of buying, selling, advertising of products on online services or over the Internet. It also includes the online marketplaces which process third-party business-to-consumer or consumer-to- consumer sales.” However, the said partnership 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.
Based on the information gathered by the Commission, UNLISHOP entices the public to invest by selling online account codes and recruiting other individuals to join the investment scheme. The entire investment scheme is described in detail below:
- The investor will create his/her own account in this website: Bit.ly/REGISTERtoUNLISHOP;
- The investor will be asked to fill up his First Name, Last Name, Middle Name, Email address, Mobile Number, Username, Password and Confirm Password;
- The investor will then buy an activation code worth P1,000 per account (can have multiple accounts with a maxium of 31 accounts) then send a picture of the receipt to his upline or recruiter for processing;
- Once he has signed up and activated his account, the investor will automatically receive P1,000 as a welcome reward (one time award);
- After activating the account, the investor will earn the following:
- Daily Download Bonus –Each time a member downloads an e-book the investor earns Php100. The investor can download one e book per day for a maximum of 10 days and collect Php1,000;
UNLI Online Shopping Voucher –When the member franchises an e-commerce the member will get Php1,000 shopping voucher to be used in the online shop. The investor will be receiving the Php 1,000 voucher monthly for free;
- Direct Referral Bonus – The investor is entitled to Php100 for every person he recruits;
- Indirect Referral Bonus – If his downline recruited anybody to join, the investor will receive Php15.00 per invite from second level down to the fifteenth level;
- Matching Bonus - The investor is entitled to a matching bonus of Php 200 for every pair the member recruited for a maximum of 40 pairs per day or a total of Php 8,000.00;
- Builder Bonus - the investor will receive 10% incentive from the matching bonus of the investor’s direct referrals;
- Profit Sharing – shall be given on a daily basis for a maximum of P1,500 per member based on the income of the company;
- Royalty Award – each time the investor’s recruit from first level to the fifteenth level, uses their shopping voucher from UNLISHOP’s online store, the investor will receive Php20.00;
- Global Pool Bonus - the investor will receive every quarter a GPB depending on the investor’s rank and requirement. The following table shows the Investor rank and percentage to be received:
The public is hereby warned that such investment schemes are considered as securities subject to the regulatory authority of this Commission. The recruitment of investor members under the guise of sponsoring a person into the system or platform is likewise considered a form of investment solicitation or a sale of securities.
Although UNLISHOP E-COMMERCE ADVERTISING SYSTEM COMPANY DOING BUSINESS
UNDER UNLISHOOP E-COMMERCE ADVERTISING SYSTEM is registered with the Commission as a partnership, however, such registration does NOT authorize the company to offer, solicit, sell or distribute any investment/securities. Such activities require a Secondary License from the Commission and the securities or investment product should likewise be registered with the SEC before they can be offered or sold to the public under Sections 8 and 12 of the Securities Regulation Code (SRC).
Likewise, those who act as salesmen, brokers, dealers or agents of these companies 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 Securities Regulation Code 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.
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, March 19, 2014).
In view thereof, the public is hereby advised to exercise caution before investing in these kinds of activities and to take the necessary precaution in dealing with UNLISHOP E-COMMERCE ADVERTISING SYSTEM COMPANY DOING BUSINESS UNDER UNLISHOOP E-COMMERCE
ADVERTISING SYSTEM 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 numbers (02) 818-6047.
For the guidance of the public. 21 June 2019.