The Securities and Exchange Commission (SEC) has recently issued an advisory (as seen below) on DELTA CRYPT LIMITED, 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.
This Advisory is prompted by postings discovered by the Commission proliferating in the internet where individuals or group of persons representing DELTA CRYPT LIMITED are enticing the public to invest in said entity.
As posted in its official Website and Facebook (FB) Chat Group, DELTA CRYPT LIMITED is enticing the public to invest in the said entity with a promise ranging from One Hundred Fifty Percent (150%) to Three Thousand Percent (3,000%) return within a short period of One (1), Five (5), Ten (10), Twenty (20) or Forty
(40) days and to a phenomenal or ridiculous Six Thousand Percent (6000%) investment return after Ninety (90) days.
As posted online, DELTA CRYPT LIMITED offers a number of compensation schemes, to wit:
Accordingly, the scheme of DELTA CRYPT LIMITED constitutes the offering and sale of securities, in the form of investment contracts to the public as its investors need not exert any effort other than to invest or place monies in the said entity in order to derive income.
Section 8 of the Securities Regulation Code (SRC) requires that said offer and sale of securities must be duly registered with the Commission and that the concerned corporation and/or its agents should have appropriate registration and/or license to sell such securities to the public.
However, DELTA CRYPT LIMITED is NOT REGISTERED as a corporation or partnership and is NOT AUTHORIZED to solicit, accept or take investments/placements from the public nor to issue investment contracts and other forms of securities defined under Section 3 of the Securities Regulation Code (SRC) because it does not have a secondary license from the Commission to solicit investments or other securities from the public for whatever purpose as provided under Sections 8 and 28 of the SRC.
The public is advised NOT TO INVEST or STOP INVESTING in any scheme offered by DELTA CRYPT LIMITED and to avoid or exercise caution in dealing with any individuals or group of persons soliciting investments or recruiting investors for and on behalf of DELTA CRYPT LIMITED or any other entities which promises ridiculous rates of return with little or no risk.
Let those who act as salesmen, brokers, dealers or agents of DELTA CRYPT LIMITED in selling or convincing people to invest in the investment scheme being offered by said entity including solicitations and recruitment through the internet be warned that they 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.
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 shall accordingly be reported to the Bureau of Internal Revenue (BIR) so that the appropriate penalties and/or taxes be correspondingly assessed.
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.
Should you have any information regarding any investment solicitation by any individuals or group of individuals representing DELTA CRYPT LIMITED, please email your report to the Enforcement and Investor Protection Department (EIPD) at firstname.lastname@example.org
For the guidance of the public.
Pasay City, 14 April 2020.