The Securities and Exchange Commission (SEC) has recently issued an advisory (as seen below) on SAKTO ONLINE, 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.
-------------------------------------------------
Based on the information gathered by the Commission, a number of individuals or group of persons claiming to represent SAKTO ONLINE ADVERTISING are enticing the public to invest their money in said entity.
SAKTO ONLINE ADVERTISING, which based on information and reports from the public, is founded by a certain Mr. Rosulo Vigilia Cabusora, Jr., with a principal office located in Bachelor St. Dubinan East, Santiago City Province of Isabela. Mr. Cabusora claims that they are already registered with the Department of Trade and Industry (DTI).
As posted in their Facebook page and in their Youtube video, you can start a business which is either online or offline for only P198 pesos and you will receive P300 worth of products. Their offered product as of now is “Sakto Amazing Detergent Powder”.
As posted online, SAKTO ONLINE ADVERTISING is offering six (6) entry packages which includes the following:
(P198 Account)
1. 1 Account- P198 (2boxes of sakto detergent powder)
2. 3 Accounts- P594 (6 boxes of sakto detergent powder)
3. 7 Accounts- P1,386 (6 boxes of sakto detergent powder)
(P1,998 Account)
4. 1 Account- P1998 (20 boxes of sakto detergent powder)
5. 3 Accounts- P5,994 (60 boxes of sakto detergent powder)
6. 7 Accounts- P13,986 (140 boxes of sakto detergent powder)
According to these persons, there are 8 ways on how to earn when you join SAKTO ONLINE ADVERTISING, and these are the ff:
1. RETAILER/ RETAIL BONUS- be a distributor and get 50% discount on the products and earn by selling.
SRP= P150/ Box
RETAILER PRICE= P75/Box
2. DIRECT REFERRAL- you will have unlimited direct referral bonus -P10/referral per account (you can have multiple accounts)
3. PAIRING BONUS- you can have a pairing bonus up to the 10th level (P10/pair)
4. ONE LINE BINARY- is a mode where you can earn from your direct sponsor. You can earn P10 pairing bonus from 1st to 3rd level.
5. INDIRECT REFERRAL BONUS- you will have a P1 bonus per invite of your down line up to the 10th level.
6. PRODUCT DEALER CAPITAL- you will invest on a P20,000 start-up capital. You will be provided with cash support. P500/ month in 6 months. 50% on products and 50% codes.
7. PRODUCT REBATES BONUS- you can earn P200 for10 direct referrals (onetime bonus) on a P198 entry. You can earn up to P1,400 for 10 direct referrals (onetimebnus) on a P1998 entry.
8. UNILEVEL BONUS- you can earn P1-3 pesos per repeat purchase of the products up to the 10th level monthly income.
SAKTO ONLINE ADVERTISING is also offering “Incentive Bonus” which can be achieved based on points system (1pair = 1 point). There is no timeframe in achieving the Incentive Bonus.
a. SAKTO SUBWOOFER = 100 points;
b. SAKTO WATCH= 120 points;
c. SAKTO CELLPHONE= 150 points;
d. SAKTO LAPTOP= 200 points; and
e. SAKTO CAR down payment= 500 points.
Simply, an investor is entitled to receive passive income from the pool of investment gathered, while active income is acquired from recruitment bonuses.
Per record of the Commission, SAKTO ONLINE ADVERTISING is not registered either as a corporation or partnership. Further, it is NOT AUTHORIZED to solicit investments from the public since it has not secured prior registration and/or license from the Commission as prescribed under Sections 8 and 28 of the Securities Regulation Code.
Hence, those who act as salesmen, brokers, dealers or agents or claim to act as such for SAKTO ONLINE ADVERTISING in selling or convincing people to invest in the investment scheme being offered by said entity including solicitations and recruitment through the internet may be prosecuted and held criminally liable under Section 28 of the SRC 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.
Also, those who invite or recruit others to join or invest in such venture or offer investment contracts or securities to the public may incur criminally liability, or otherwise be sanctioned or penalized accordingly as held by the Supreme Court in the case of Securities and Exchange Commission vs. Oudine Santos (G.R. No. 195542, 19 March 2014).
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.
The public is advised NOT TO INVEST or STOP INVESTING in any investment scheme being offered by any individual or group of persons allegedly for or on behalf of SAKTO ONLINE ADVERTISING and to exercise caution in dealing with any individuals or group of persons soliciting investments for and on behalf of it.
Should you have any information regarding any investment solicitation by any individuals or group of individuals representing SAKTO ONLINE ADVERTISING, you can send your report to the EIPD at epd@sec.gov.ph
For the guidance of the public.
30 March 2020.
-------------------------------------------------
You can visit this link for more safety tips for your Coins.ph account. If you have any further questions, you may reach out to us at help@coins.ph.
