On 30 April 2019, the Securities and Exchange Commission (SEC) issued an advisory on DV Boer Farm International Corporation (“DV Boer”), 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 extreme precautions in joining or investing in these groups.
(UPDATE) On 31 January 2020, SEC lifted the above mentioned advisory, with conditions, on DV Boer and issued the following order:
"RESOLVED, To GRANT the settlement offer of DV Boer International Corporation (DV Boer) in the amount of Three Million Fifteen Thousand Pesos (Php3,015,000.00) and the corresponding mode of payment (partial payment of Php300,000,00) and the balance of Php2,715,000.00 be payable within three (3) months from the approval of the request);
RESOLVED Also, to LIFT the SEC Advisory on DV Boer, provided that:
- DV Boer stop offering, soliciting and selling for public sale securities in the nature of investment contracts through its Paiwi Program, unless a Registration Statement has been filed and approved by the Commission; and
- DV Boer allows its farms to be open for inspection by the authorized representatives of the Commission for a period of at least three (3) months."
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