The Securities and Exchange Commission (SEC) has recently issued an advisory (as seen below) on MY GOLD REV PHILIPPINES, 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 entity, its representatives or any entities engaged in schemes which promises ridiculous rates of return with little or no risks.
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 Securities and Exchange Commission has received information that individuals or group of persons representing MY GOLD REV/MY GOLD REV PHILIPPINES are enticing the public to invest their money in the said entities with the promise of high monetary rewards or profits.
Per records of the Securities and Exchange Commission, MY GOLD REV / MY GOLD REV PHILIPPINES are not registered either as a corporation or partnership. Furthermore, said entities are not authorized to solicit investments from the public as they did not secure prior registration and/or license to solicit
investments as prescribed under Section 8 of the Securities Regulation Code.
Based on information gathered by the Commission, the entry packages for the investment plans offered by MY GOLD REV / MY GOLD REV PHILIPPINES are as follows:
As shown above, MY GOLD REV / MY GOLD REV PHILIPPINES offers packages from twenty dollars to one hundred thousand dollars ($10- $100,000) promising returns of at least 2% to as much as 3.5% daily for 80 to 100 days for total returns ranging from 260% to 450%.
The public is hereby warned that such investment schemes are considered as securities subject to the regulatory authority if this Commission. The offering of securities to the public without a permit or license is a violation of Section 8.1 of the Securities Regulation Code.
Accordingly, those who invite or recruit other people to join or invest in this venture or offer investment contracts or securities to the public may be held criminally 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).
Everyone is reminded that aside from the strict penalties imposed by the Commission for violations of the Securities Regulation Code, the Revised Corporation Code, and such other rules and regulation it enforces, the Bayanihan to Heal as One Act (Republic Act No. 11469) also punishes those participating in cyber incidents that make use or take advantage of the current Covid-19 crisis situation to prey on the public through scams, phishing, fraudulent emails, or other similar acts.
In view thereof, the public is hereby advised to exercise caution in dealing with any individual or group of persons soliciting investments for and on behalf of MY GOLD REV/ MY GOLD REV PHILIPPINES. The public is further advised NOT TO INVEST or to STOP INVESTING in the investment scheme being offered by the subject entities or their representatives.
The Commission urges anyone who has knowledge or information about any business transactions involving these securities or investment opportunities to report such activities so that appropriate actions could be taken through the email of the Enforcement and Investor Protection Department at
For the guidance of the public.
Pasay City, 07 May 2020.