The Securities and Exchange Commission (SEC) has recently issued an advisory (as seen below) on AVP88 COTURNIX EGG FARM, 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 not to invest or stop investing in any investment scheme offered by the said company.
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 an entity named AVP88 COTURNIX EGG FARM and AVP88 TRADING INC. are enticing the public to invest in said entities.
Based on the reports from the public and as posted in Facebook, AVP88 COTURNIX EGG FARM and AVP88 TRADING INC. operated by ALBERTO VARGAS PASCUAL, are enticing the public to invest in the said entity with a promise of receiving a daily profit of 1.5 % for 120 days including capital subject to the following compensation plan:
The public is hereby informed that AVP88 COTURNIX EGG FARM and AVP88 TRADING INC. are not authorized to solicit investments from the public as these entities did not secure prior registration and/or license to solicit investment from the Commission as prescribed under Section 8 of the Securities Regulation Code (SRC).
Those who act as salesmen, brokers, dealers or agents of AVP88 COTURNIX EGG FARM and AVP88 TRADING INC. in selling or convincing people to invest in the investment scheme being offered by the said entities including soliciting investments or recruiting investors through the internet may be held criminally liable under Section 28 of the SRC and penalized with a maximum fine of Five Million Pesos (Php5,000,000.00) or imprisonment of Twenty One (21) years or both pursuant to Section 73 of the SRC (SEC vs. Oudine Santos, G.R. No. 195542, 19 March 2014).
In view thereof, the public is hereby advised to STOP INVESTING in the investment scheme being offered by AVP88 COTURNIX EGG FARM, AVP88 TRADING INC. and by ALBERTO VARGAS PASCUAL.
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 numbers 8818-6047.
For the guidance of the public.
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