The Securities and Exchange Commission (SEC) has recently issued an advisory (as seen below) on ACHIEVERS GOLDEN MARKETING AND CONSULTING’s (AGMC) and ACHIEVERS GOLDEN HOLDINGS INC. (AGHI), 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 an inquiry received by the Securities and Exchange Commission (“SEC”) from a concerned citizen regarding ACHIEVERS GOLDEN MARKETING AND CONSULTING’s (AGMC) and ACHIEVERS GOLDEN HOLDINGS INC. (AGHI) investment-taking activities. Based on the attachment included in the email, AGMC offers a CASH BACK GUARANTEE PROGRAM wherein one may invest a minimum amount of Php5,000.00 to as high as Php1,000,000.00 and promises a return of as much as 1% daily or 30% monthly for a period of 180 days as shown in the table below.
ACHIEVERS GOLDEN MARKETING AND CONSULTING claims that it is engaged in crowdfunding services where all trader affiliates who do not have a comprehensive knowledge about multi trading and don’t like to venture into direct trading are open to ride or join AGMC services. It is headed by its President and owner Mr. ARNEL T. ARATIA. AGMC operates at different office addresses, to wit:
(1) 2nd Floor Room 2 Valencia Corporate Center Arellano Street, Davao City; (2) 19th Floor, Crimsons Hotel Building, Alabang, Muntinlupa City 1780 and (3) Sto. Niño, Biñan City. It also claims that its industries are diverse, such that, it is advertised as a crowdfunding entity and in another, a marketing agency.
Further, the company also offers different ways to earn extra income with AGMC, these are the following:
1. Indirect Bonus;
2. Special Investor’s Privilege;
3. Direct Referral Bonus; and
4. Rewards Point Compounded.
The scheme of AGMC involves the offering and sale of securities in the form of Investment Contracts to the public because the investors need not exert any effort other than to invest or place monies in AGMC in order to generate income.
Since said scheme involves the sale of securities to the public, the Securities Regulation Code (SRC) requires that these securities are duly registered with the Commission and that the concerned corporation and/or its agents have appropriate registration and/or license to sell such securities to the public pursuant to Section 8
of the SRC.
Per records of the Commission, ACHIEVERS GOLDEN MARKETING AND CONSULTING is not registered in the Commission’s database as a corporation or partnership. On the other hand, ACHIEVERS GOLDEN HOLDINGS INC. is registered with SEC Registration No. CS201956248 issued on 07 NOVEMBER 2019. Both ACHIEVERS GOLDEN MARKETING AND CONSULTING and ACHIEVERS GOLDEN HOLDINGS INC. are not authorized to solicit investments from the public as the above-mentioned entities did not secure prior registration and/or license to solicit investments from the Commission as prescribed under Section 8 of the Securities and Exchange Commission.
Likewise, both ACHIEVERS GOLDEN MARKETING AND CONSULTING and ACHIEVERS GOLDEN HOLDINGS INC. are also NOT REGISTERED either as a crowdfunding intermediary or a funding portal under SEC Memorandum Circular No. 14, Series of 2019 or the Rules and Regulations Governing Crowdfunding.
Accordingly, the Commission warns all unscrupulous individuals and/or entities that strict penalties are imposed for violations of the Securities Regulation Code, the Revised Corporation Code, and such other rules and regulation enforced by the Commission.
Hence, those who act as salesmen, brokers, dealers or agents or claim to act as such of AGMC and AGHI in selling or convincing people to invest in the investment scheme being offered by said entities including solicitations and
recruitment through the internet may be prosecuted and held criminally liable under Section 28 of the SRC and penalized with a maximum fine of Five Million pesos (Php5,000,000.00) or penalty of Twenty-one (21) 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).
Further, the names of all those involved will be reported to the Bureau of Internal Revenue (BIR) so that the appropriate penalties and/or taxes be correspondingly assessed.
In view thereof, the public is advised NOT TO INVEST or STOP INVESTING in any investment scheme being offered by ACHIEVERS GOLDEN MARKETING AND CONSULTING and ACHIEVERS GOLDEN HOLDINGS INC. and exercise caution in dealing with any individuals or group of persons soliciting investments or recruiting investors for and on behalf of ACHIEVERS GOLDEN MARKETING AND CONSULTING and ACHIEVERS GOLDEN HOLDINGS INC.
Should you have any information regarding any investment solicitation by any individuals or group of individuals representing ACHIEVERS GOLDEN MARKETING AND CONSULTING and ACHIEVERS GOLDEN HOLDINGS INC., you may send your report to the EIPD at email@example.com
For the guidance of the public.
Pasay City, 15 September 2020.