The Securities and Exchange Commission (SEC) has recently issued an advisory (as seen below) on TBCMMP MASA MART INC., 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 (“Commission”) has received information that individuals or group of persons representing TBCMMP MASA MART INC. are enticing the public to invest their money in the said entity with the promise of high monetary rewards or profits.
Based on information gathered by the Commission, TBCMMP MASA MART INC. is publicly soliciting investments online by enticing the public to invest or pay Five Thousand Eight Hundred Eighty Eight pesos (P5,888) with a promise of instant TBCMMP Combo Package benefit which includes the products worth 75% of the entry, free $10 annual subscription and free $100 investment (1 TBC Cookie Rewards worth P450,000),
There are different ways to earn in TBCMMP MASA MART INC.:
- Helping Others Task Program or The 1:5 Helping Formula;
- Sell the TBC Masa Mart Products;
- TBC DIGITAL CURRENCY INCOME OPPORTUNITY: TBC Cookie Rewards and UMC Masa Coin
Under this scheme, upon payment of a minimum subscription of USD25 or One Thousand Two Hundred Fifty Pesos (P1,250.00) to the maximum subscription of USD20,000 or One Million (P1,000,000.00) in TBCMMP MASA MART INC., shall entitle the investor to earn ranging from 30% monthly to 2561.81% per annum. The gain depends on the option availed of by the investor, i.e., monthly or a “lock-in” period of 3 months, 6 months or 1 year.
Records of the Securities and Exchange Commission (SEC) show that TBCMMP MASA MART INC. is a registered corporation with SEC Registration No. CS201815816 issued on 31 July 2018. However, such registration merely grants juridical personality to the corporation but does not authorize TBCMMP
MASA MART INC. to issue sell or offer for sale securities to the public nor undertake business activities requiring secondary license from the Commission as it did not secure prior registration and/or license to solicit investments as prescribed under Section 8.1 of the Securities Regulation Code (SRC).
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 and selling of securities to the public without a permit or license is a violation of Section 8.1. of the SRC.
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 TBCMMP MASA MART INC. or its representatives. In view thereof, the public is further advised NOT TO INVEST or TO STOP INVESTING in any investment scheme being offered by aforesaid entities/individuals.
Should you have any information regarding the operation of the subject entity, please call the Enforcement and Investor Protection Department at telephone numbers 8818-6047 or send your report to the EIPD at firstname.lastname@example.org.
For the guidance of the public.
Pasay City, April 14, 2020.