The Securities and Exchange Commission (SEC) has recently issued an advisory (as seen below) on OLYMPRO STOCKTRADING WEB CONTENT PUBLISHING ("Olympro"), 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.
Based on the information gathered by the Commission, a number of individuals or group of persons claiming to represent OLYMPRO STOCKTRADING WEB CONTENT PUBLISHING (OLYMPRO), headed by CHRISTIAN MARK LACSON PEREDO, are enticing the public to invest their money in said entity.
As posted in their website, (http://www.olympro.org/) OLYMPRO is a private platform promising 20% interest in just 8 days. However, reports from the public that said website as well as Christian Mark Pedero’s Facebook page along with all associated Facebook accounts of his admins/staff and the Olympro Facebook group were taken down on 1 October 2020
The platform gathers potential investors willing to invest a minimum of Php 200.00 to a maximum of Php 100,000.00 with a 5% commission from invites who invested at Olympro.
Compensation Plans (ComPlan) are (1) Beginner Plan-guarantees a20% return of investment on an 8-day timeframe; (2) Pro Trader-which grants a 50% return of investment for a 15-day timeframe; and (3) VIP Trader-100% return of investment for a 30-day timeframe and a monthly profit share.
Based on accounts of investors, OLYMPRO’s website as well as Christian Mark Pedero’s personal Facebook page and associated pages were inexplicably taken down on1 October 2020 and that Mr. Pedero can no longer be contacted.
As the above-described schemes involved the offer for public sale of securities, the Securities Regulation Code (SRC) requires that these securities are duly registered and that the concerned corporation and/or its agents have appropriate registration and/or license to sell such securities to the public pursuant to Sections8.1 and 28.1 of the SRC.
The records of the Commission show that OLYMPRO STOCKTRADING WEB CONTENT PUBLISHING is not registered with the Commission either as a corporation or as a partnership. However, OLYMPRO STOCKTRADING WEB CONTENT PUBLISHING has been issued a Certificate of Business Name Registration on 23 August 2020 by the Department of Trade and Industry with Business Name No. 2102561 under its owner CHRISTIAN MARK LACSON PEREDO.
Nonetheless, OLYMPRO STOCKTRADING WEB CONTENT PUBLISHING is not authorized to solicit investments from the public as it did not secure prior registration and/or license to solicit investments from the Commission as prescribed under Sections8.1 of the SRC.
Likewise, CHRISTIAN MARK LACSON PEREDO is not a registered or licensed capital market professional such as a broker in securities or a salesman, trader or associated person thereof under Section 28.1 of the SRC and is also not authorized to solicit investments from the public.
Further, OLYMPRO STOCKTRADING WEB CONTENT PUBLISHING is 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.
Hence, those who act as salesmen, brokers, dealers or agents or claim to act as such for OLYMPRO STOCKTRADING WEB CONTENT PUBLISHING in selling or convincing people to invest in the investment scheme being offered by said entity including solicitations and recruitment through the internet may be prosecuted and held criminally liable under Section 28.1of 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.
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 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 public is advised NOT TO INVEST or STOP INVESTING in any investment scheme being offered by any individual or group of persons allegedly for or on behalf of OLYMPRO STOCKTRADING WEB CONTENT PUBLISHING and CHRISTIAN MARK LACSON PEREDO and to exercise caution in dealing with any individuals or group of persons soliciting investments for and on behalf of them.
Should you have any information regarding the operation of OLYMPRO STOCKTRADING WEB CONTENT PUBLISHING and CHRISTIAN MARK LACSON PEREDO or any securities solicitation activities by any individual or group of individuals representing them, please send your report to the Enforcement and Investor Protection Department at email@example.com.
For the guidance of the public.
Pasay City, 20October 2020.