The Securities and Exchange Commission (SEC) has recently issued an advisory (as seen below) on PAYADSTARS and/or PAY AD STARS, 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 individuals or group of persons claiming to represent PAYADSTARS/PAY AD STARS, are enticing the public to invest their money in the said entity as can be seen in the following post:
Based on reports from the public and Facebook (FB) postings, PAYADSTARS/PAYAD STARS is enticing the public to invest in the said entity with a promise of earning a return of 1.8 to 2% daily in 100 days or the equivalent of 180 % to 200% in a period of 100 days. As posted on their Facebook page, you can start a business by registering first, then you can choose from any of the three (3) types of entry plans namely: PLAN ALPHA, PLAN BETA, and PLAN CHORME and you can also earn from direct referral ranging from 1% (level 3), 2% (level 2) and 7% (level 1).
According to its Facebook page (PAYADSTARS OFFICIAL, the admins are MUHAMMAD ASIF, JAKE VILLANUEVA, KELY ISOM TOLAR and JAI RAY. Based on the Facebook profile of JAKE VILLANUEVA, he stated that he is the owner of the PAYADSTARS/PAY AD STARS.
In it’s recent post, PAYADSTARS/PAY AD STARS came out with it’s latest scheme, with a promise of earning a return of 0.158%, 0.162% and 0.166% hourly in 30 days. You can choose from three (3) types of entry namely: SILVER, GOLD, and PLATINUM.
Accordingly, the scheme of PAYADSTARS/PAY AD STARS involves the offering and sale of securities in the form of investment contracts to the public.
Therefore, the said offer and sale of securities must be duly registered with the Commission and that the concerned corporation and/or its agents must have appropriate registration and/or license to sell such securities to the public in accordance with Section 8 of the Securities Regulation Code (SRC).
However, PAYADSTARS/PAY AD STARS is NOT REGISTERED as a corporation or partnership with the Commission and has NO SECONDARY LICENSE 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).
In view thereof, the public is hereby advised to STOP INVESTING in the investment scheme being offered by PAYADSTARS/PAY AD STARS and its representatives or any entities engaged in investment schemes which promises ridiculous rates of return with little or no risks or show any other indications or characteristics of a Ponzi Scheme.
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.
In addition, those who act as salesmen, brokers, dealers or agents of PAYADSTARS/PAY AD STARS in selling or convincing people to invest in the investment scheme being offered by said entity 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 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 Securities and Exchange Commission 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.
Should you have any information regarding the operation of PAYADSTARS/PAY AD STARS or any investment solicitation activity by any individual or group of individuals representing PAYADSTARS/PAY AD STARS, please send your report to the Enforcement and Investor Protection Department at email@example.com
For the guidance of the public.
Pasay City, 19 May 2020.