The Securities and Exchange Commission (SEC) has recently issued an advisory (as seen below) on INVEXPERT, 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 take extreme precautions in joining or investing in these groups.
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.
This Advisory is prompted by postings discovered by the Commission proliferating in the internet where individuals or group of persons representing INVEXPERT which claims to be registered in the United Kingdom under the name of “INVEXPERT LTD” located at 20 Sumner Road, London, England, SE15 6LA,
are enticing the public to invest in said entity.
Per records of the Commission, INVEXPERT or INVEXPERT LTD is not registered as a corporation or partnership. Furthermore, the said entity is not authorized to solicit investments from the public as it 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 plan of INVEXPERT are as follows:
As shown above there are varying plans offered by INVEXPERT that starts from ten dollars to one million dollars ($10-$1,000,000) with promised returns from 104% to as much as 3000% in 1 to 30 days, depending on the Plan selected.
These Investment Plans have been offered at their website at https://invexpert.biz/?a=invest and INVEXPERT Facebook Page shown below:
The public is hereby warned that such investment schemes are considered as securities in the form of investment contracts subject to the regulatory authority of 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.
Violators are warned 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.
In addition, those who act as salesmen, brokers, dealers or agents of such unauthorized entities in selling or convincing people to invest in their investment scheme offered including solicitations and recruitment through the internet may likewise be criminally prosecuted and penalized with a maximum fine of Five
Million pesos (P5,000,000.00) or a penalty of Twenty-one (21) years of imprisonment or both pursuant to Sections 28 and 73 of the SRC.
Further, 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 SEC vs. Oudine Santos (G.R. No. 195542, 19 March 2014).
The names of all those involved will also 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 before investing in these kinds of activities and to take the necessary precautions in dealing with INVEXPERT or INVEXPERT LTD or its representatives.
Should you have any information regarding any investment solicitation activity by any individual or group of individuals representing any entities operating under INVEXPERT or INVEXPERT LTD, please send your report to the EIPD at firstname.lastname@example.org.
For the guidance of the public.
Pasay City, 14 April 2020.