The Securities and Exchange Commission (SEC) has recently issued an advisory (as seen below) on BAYANIHAN PROGRAM OF BILLY FORD ANDRADA, 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 Commission has received information that a certain BILLY FORD ANDRADA through his BAYANIHAN PROGRAM is enticing the public to invest their money in the said program with the promise of high monetary rewards or profits.
Information gathered from online sources and reports from the public show that the BAYANIHAN PROGRAM OF BILLY FORD ANDRADA entices the public to invest a minimum amount of PhP2,000.00 with a promise of 50% return of investment. In addition, a member will also earn a 5% direct referral bonus.
In enticing the public to invest, BILLY FORD ANDRADA also offered promotions such as 15% direct commission and PhP300.00 bonus for every investment of PhP2,000.00. Below are the screenshots of Facebook (FB) posts showing its offer:
The public is hereby informed that BAYANIHAN PROGRAM is not registered with the Commission and is not authorized to solicit investments from the public, not having secured prior registration and/or license to sell securities or solicit investments as prescribed under Section 8 of the Securities Regulation Code
Further, BILLY FORD ANDRADA has NOT been issued a license by the SEC as an Associated Person, Compliance Officer, Salesman and/or Certified Investment Solicitor of a Broker Dealer in Securities, Investment House, Underwriter of Securities, Investment Company Adviser and/or Mutual Fund Distributor.
Moreover, the Commission has issued an Advisory on 23 January 2020 against BILLFORD TRADING and BILL FORD VIP TRADING INC. for soliciting investments from the public in the guise of a piggery business. The name of BILLY FORD DELOS SANTOS ANDRADA was likewise mentioned in the said Advisory
as the owner of the two (2) companies.
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 crisis situation to prey on the public through scams, phishing, fraudulent emails, or other similar acts.
Those who act as salesmen, brokers, dealers or agents of the said entity in selling or convincing people to invest in the investment scheme it is being offered 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).
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.
In view thereof, the public is hereby advised to exercise caution in dealing with BILLY FORD ANDRADA and any individual or group of persons soliciting investments for and on behalf of his BAYANIHAN PROGRAM.
The public is further advised NOT TO INVEST or to STOP INVESTING in the investment scheme being
offered by BILLY FORD ANDRADA or his representatives through the BAYANIHAN PROGRAM.
Should you have any information regarding the operation of the subject entity, please call the Enforcement and Investor Protection Department (EIPD) at telephone number 8818-6047 or email at firstname.lastname@example.org or visit the EIPD at Ground Floor, North Wing Hall, Secretariat Building, PICC Complex, Pasay City.
For the guidance of the public.
Pasay City, 07 May 2020.