The Securities and Exchange Commission (SEC) has recently issued an advisory (as seen below) on FAST TRACK WORLDWIDE, warning the public of the individuals and groups involved in such activities. The advisory defines the activities behind the scheme, and advises the public not to invest or stop investing in any investment scheme offered by the said company. Furthermore, 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.
The public is hereby warned of the unauthorized investment-taking activities undertaken by FAST TRACK WORLDWIDE, INC. (“FTW”)
Based on investigation conducted by EIPD, FTW is engaged in unauthorized investment taking activities in violation of Section 8(8.1) of the Securities Regulation Code (SRC). Its activities as a corporate entity is thus beyond the scope of its purpose as approved by the Commission and in violation of the Revised Corporation Code of the Philippines for being ultra vires.
FTW was duly registered with the Commission as a stock corporation on February 18, 2019 under Company Registration No. CS201902428. The Company, however, has not been issued a permit to publicly offer or sell securities nor has it filed a registration statement on any type of securities for approval by the Commission. Neither has it been issued a license to act as broker or dealer in securities nor has any of its agents been licensed to act as salesmen of securities.
Its Articles of Incorporation indicate that the company was organized by incorporators Jay Gregorio, Clive Llora, Jeniel Aguilar, James Guillera and Rey Aldwin Valeriano. The primary purpose of the company is to offer goods and merchandise to the public. Its principal address is at 19/F Marco Polo Ortigas Manila, Sapphire Road, San Antonio, City of Pasig, National Capital Region, Second District.
The company is enticing the public with the promise of profits to invest in the following investment packages with their corresponding prices:
1. Builder Package – P1,499.00.
2. Deluxe Package – P4,999.00
3. Premium Package – P14,999.00
4. Executive Package – P49,997.00
The said investment packages are offered together with products valued by the Company at a price which is more than the money invested. Thus, products bundled with the investment packages are claimed by the Company to be worth P2,100.00, P6,500.00, P17.000.00 and P70,000.00 for the Builder Package, Deluxe Package, Premium Package, and Executive Package, respectively. The Executive Package bundle of
products worth 70,000.00 is broken down as follows: Super Affiliate Course worth P5,000.00, Econ Advanced Course Worth P15,000.00, Closer Certification Program worth P10,000.00 and P40,000.00 worth of products.
For those who join, the Company undertakes to pay direct referral bonuses worth 120 pesos for every Builder Package purchased, 360 pesos for every Deluxe Package, 1,800 pesos for every Premium Package and 3,500 pesos for every Executive Package.
To fast track the sales of the investment packages, the company offers its Fast Track Double Income incentive in which it undertakes to double the direct referral income for those earning their first 1,000 pesos, 10,000 pesos, 100,000 pesos and 1,000,000 pesos.
Such public offering or selling of securities without corresponding registration with the Commission is illegal and is punishable by law pursuant to Section 8(8.1) in relation to Section 73 of the SRC.
Those who act as salesmen, brokers, dealers, or agents of FTW in selling or convincing people to invest in the investment scheme being offered by said company including doing 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 (P5,000,000.00) PESOS or a maximum penalty of TWENTY ONE (21) years imprisonment or BOTH pursuant to Section 73 of the SRC.
Accordingly, those who invite or recruit or convince people to join or invest in the venture or offer such investment contracts or securities to the public may be charged and held criminally liable 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 advised to STOP INVESTING in this money making scheme offered by FAST TRACK WORLDWIDE, INC. and in other similar schemes and to take the necessary precautions in dealing with the above-named entity and/or its representatives.
If you have invested money or were invited to invest in Fast Track Worldwide, Inc., you may seek the assistance of the Enforcement and Investor Protection Department of the Securities and Exchange Commission with office address at the North Wing Hall, Ground Floor, Secretariat Building, PICC Complex, Pasay City or you may call telephone number: 8818-7650 or email at firstname.lastname@example.org.