The Securities and Exchange Commission (SEC) has recently issued an advisory (as seen below) on PLANPROMATRIX ONLINE CO., 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. Further, SEC ordered the company and its officers or representatives to cease and desist from further engaging in activities of selling or offering sales of securities and investment contracts until the required registration is duly filled and approved by the Commission.
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 individuals or group of persons representing PLANPROMATRIX ONLINE CO.(“PPM”) are enticing the public to invest in the said entity online or through the internet.
Based on the information gathered by the Commission, PPM, headed by Mark George Barnuevo Naval (a.k.a. Bong Naval), allegedly offers a home-based online business with a capital of Six Hundred Pesos (Php600.00) where prospective investors/members are entitled to various e-books and electronic materials such as video/audio tutorials, icons, graphics, fonts, templates, etc. Likewise, a prospective investor may promote his own business thru PPM’s ADS Package.
Each member/investor of PPM may earn through the following:
1. E-loading business;
2. Data Entry Job; and
3. Advertising Agent.
On the other hand, PPM promises six (6) ways to earn for being an “Advertiser” in the company, to wit:
a. 2x1 Matrix System - where a member earns Php300.00 for every two (2) recruits;
b. Pass3Unli - where a member earns Php50.00 for his every 2nd, 4th, 6th, 7th, 8th and onwards direct recruits while the Upline earns Php50.00 fron the former’s 1st, 3rd, and 5th direct recruits;
c. Unilevel/Indirect Referral Commission - where a member may earn Php5.00 for every direct recruit and the recruits of his downlines up to the 10th level;
d. Profit sharing - where a member, to be qualified, is required to recruit 5 direct downlines every month and entitled to a share or portion of the income appropriated by PPM;
e. Binary Matching Bonus - where a member may earn Php100.00 whenever his downlines activated their respective binary. To activate a binary, a member must have 4 direct recruits per account. Alternatively, a member, to activate his binary, may purchase a Binary Activation Code amounting to Php300.00 each; and
f. Binary Direct Downlines Commission - where a member may earn Php30.00 for every direct downline that activates their respective binary.
In addition, PPM introduced a new compensation plan which is called “TABLE OF EXIT”
where a member should pay an amount of Php1,800.00 (Php600.00 of which entitles the member
to the abovementioned ways to earn and the remaining Php1,200.00 shall pertain to Table of
Exit). The Table of Exit is illustrated, thus:
In the above table, level 4 must be filled up by paying each an amount of Php1,800.00. Once level 4 is completely filled up, Mr. 1 shall exit and proceed to Table 2.
The table shall thereafter split into two, respectively, now being headed by Mr. 2 and Mr. 3 on the Level 1. Again, after Level 4 is completely filled up, the person in Level 1 shall exit and proceed to the next table. The process continues so long as there are invites/recruits.
Members who exited in the first, second, third, fourth, and fifth table shall earn Php3,000.00, Php10,000.00, Php30,000.00, Php100,000.00, and Php500,000.00, respectively.
The public is hereby informed that although PLANPROMATRIX ONLINE CO. 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 SEC before they can be offered or sold to the public under Sections 8 and 12 of the Securities Regulation Code (SRC).
Consequently, those who act as salesman, brokers, dealers or agents of PLANPROMATRIX ONLINE CO. in selling or convincing people to invest in the investment scheme being offered by PLANPROMATRIX ONLINE CO. including solicitations or 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 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 contracts or securities to the public may be held 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 PLANPROMATRIX ONLINE CO. 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 818-6047. For
guidance of the public.).
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