The Securities and Exchange Commission (SEC) has recently issued an advisory (as seen below) on XM TRADING MARKETING SERVICES and/or XM TRADING OFFICIAL, 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”) received information regarding the investment taking activities of XM TRADING MARKETING SERVICES and/or XM TRADING OFFICIAL (“Entities”).
Based on the information gathered by the Commission, the Entities lure the public to invest in the company by allegedly making them “shareholders.” Basically, the scheme is to entice the public to invest their money to the company and without any other participation or efforts from the investors, they will be entitled to twenty-five percent profit of the investment capital every twenty days (20 days)for three cycles. On the fourth cycle, i.e., the last cycle, the investor will be entitled to twenty-five percent profit plus the
return of the investment capital. It also offers different packages depending on the investors capital, to wit:
It portrays to the public that it is engaged in the following programs, projects, and services:
- Sponsorship of Pro Gamer Advertising Streams and live Game Streamers;
- Cryptocurrency and Forex Trading;
- Manufacturing/ Wholesale Perfume Industry Business;
- Car Loan Financing Program; and
- Manufacturer of other Products and etc.
The public is hereby informed that XM TRADING MARKETING SERVICES and/or XM TRADING OFFICIAL is not registered as a corporation nor as a partnership. The Entities are likewise not authorized to offer, solicit, sell or distribute any investment/securities to the public. Such activities require a Secondary License from the Commission. The securities or investment product should likewise be registered with the Commission before it can be offered to the public as provided for by Sections 8 and 12 of Republic Act 8799 or the Securities Regulation Code (SRC).
Those who act as salesmen, brokers, dealers or agents of XM TRADING MARKETING SERVICES and/or XM TRADING OFFICIAL in selling or convincing people to invest in the scheme being offered by these entities including solicitations and recruitment may be prosecuted and be held liable under Section 28 of the SRC. If adjudged guilty, they can be penalized with a maximum fine of Five Million Pesos (PhP 5,000,000.00) or penalty of Twenty-One years of imprisonment or both pursuant to Section 73 of the SRC.
Also, those who invite or recruit others to join or invest in such venture or offer investment contracts or securities to the public may incur criminal 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).
IN VIEW WHEREOF, the Public is hereby advised to exercise caution in dealing with XM TRADING MARKETING SERVICES and/or XM TRADING OFFICIAL or persons purporting to be its representatives.
Should you have any information regarding any investment solicitation by any individuals or group of individuals representing XM TRADING MARKETING SERVICES and/or XM TRADING OFFICIAL, please send your report to the ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT(EIPD) at firstname.lastname@example.org.
For the guidance of the public.
Pasay City, 28 May 2020.