The Securities and Exchange Commission (SEC) has recently issued an advisory (as seen below) on CASHCOWROBOT, 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.
The Securities and Exchange Commission (“Commission”) has received information that individuals or group of persons of person representing CASHCOWROBOT alleged to be a DTI-registered entity with a business name “CashCowRobot Computer Solutions” owned by a certain Khen Naranjo Salce and headquartered in Misamis Occidental is offering online-investment opportunities.
Per record of the Commission, CASHCOWROBOT is not registered in the Commission’s database as a corporation or partnership and is not authorized to solicit investment from the public as the above-mentioned entity did not secure prior registration and/or license to solicit investment from the Commission as prescribed under Section 8 of the Securities and Exchange Commission.
Based on information gathered by the Commission, in order to become a member, one must pay One thousand pesos (P1,000.00) as lifetime membership fee, and promises an Eight thousand pesos (P8,000) income per day thru their lucrative compensation plan and thru completing tasks and selling digital products.
There are different ways to earn in CASHCOWROBOT:
1) Binary Platform:
2) Sell Digital Products - entitles the member to earn 100% of the sold product.
3) EarnMoney Platform
4) Sell Physical Digital Products and Services - an online marketplace and digital online store where a member can sell his/her physical products or services.
5) Other Rewards
The public is hereby warned that such investment schemes are considered as securities subject to the regulatory authority of this Commission. The offering and selling of securities to the public without a permit or license is a violation of Section 8.1. of the Securities Regulation Code.
Please be advised that the Commission already posted at the landing page of its website, www.sec.gov.ph, the name of the entities that are authorized to offer securities/investments to the public. Entities not included in the list and that are conducting investment taking activities from the public are presumed to be in violation of 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 under Section 28 of the SRC penalized with a maximum fine of Five Million Pesos (P 5,000,000.00) 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).
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 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 CASHCOWROBOT or its representatives.
Should you have any information regarding the operation of the subject entity, please contact the Enforcement and Investor Protection Department at firstname.lastname@example.org.
For the guidance of the public.
Pasay City, 14 April 2020.