The Securities and Exchange Commission (SEC) has recently issued an advisory (as seen below) on ALISURVEY ADVERTISEMENT MARKETING SERVICES, 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.
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The Securities and Exchange Commission (“Commission”) has received information about the investment-taking activities of ALISURVEY ADVERTISEMENT MARKETINGSERVICESwhich is owned and headed by Mr. SHERWIN D. ABASOLO and Mr. ALLAN CHRISTOPHER T. ARGUELLES.
Based on information gathered by the Commission, SHERWIN D. ABASOLO and ALLAN CHRISTOPHER T. ARGUELLES entice the public to become members of ALISURVEY ADVERTISEMENT MARKETINGSERVICES. It claims to be engaged in the business of loading and ticketing service, online survey, and manufacture and sale of perfume. ALISURVEY ADVERTISEMENT MARKETINGSERVICES offers different ways to earn which will also depend on the kind ofpackage that the investors would avail of, but in a nutshell, it focuses on the following:
ALISURVEY ADVERTISEMENT MARKETING SERVICES also offers different packages namely:
STOCKIST PACKAGES
BUY, WAIT AND GET REBATES PACKAGES
As it appears, ALISURVEY ADVERTISEMENT MARKETINGSERVICES is engaged in a Chain Distribution Plan or Pyramid Sales Scheme. However, a closer look at its “BUY, WAIT AND EARN PACKAGES” would reveal that it is also engaged in solicitation of investments. As the name of the package implies, the “BUY, WAIT AND EARN PACKAGES” guarantees profits amounting to SIXTEEN AND SIXTY-SEVEN PERCENT (16.67 %) MONTHLY REBATES for twelve months or annual guaranteed profit of TWO HUNDRED PERCENT (200%), more or less. The investors of the “BUY, WAIT AND EARN PACKAGES ”need not do anything in order to receive this guaranteed monthly rebates except to infuse capital into the company. Thus, an investor who avails any of the “BUY, WAIT AND EARN PACKAGES” is entitled to the following guaranteed profit:
Accordingly, the “BUY, WAIT AND EARN PACKAGES” of ALISURVEY ADVERTISEMENT MARKETINGSERVICES involves the offering and sale of securities in the form of investment contracts to the public because its investors need not exert any effort other than to invest or place monies in the said entity in order to derive income.
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 Sections8 and 28 of the Securities Regulation Code (SRC).
Per record of the Commission, ALISURVEY ADVERTISEMENT MARKETING SERVICES is REGISTERED as a partnership. However, it is NOT authorized to solicit investments from the public since it has not secured prior registration and/or license from the Commission as prescribed under Sections 8 and 28 of the Securities Regulation Code.
The public should be made aware that the issuance of a Certificate of Incorporation or Partnership only grants entities juridical personality but does not constitute an authority or license for the corporation to engage in activities that require a secondary license from the SEC such as a License to Sell Securities to the Public.
The public must be wary that any promise of ridiculous rates of return with little or no risks is an indication of a Ponzi Scheme where monies from new investors are used in paying fake “profits” to earlier investors. Also, any promise that defies the normal financial logic is surely unreliable and sketchy.
Further, the offering and selling of securities in the form of investment contracts using the “Ponzi Scheme” which is fraudulent and unsustainable, is NOT a registrable security.
The Commission will not issue a License to Sell Securities to the Public to persons or entities that are engaged in this business or scheme. A “Ponzi Scheme” is a scam that involves a scheme where monies from new investors are used in paying “fake profits” to prior investors and is designed mainly to favor its top recruiters and prior risk takers and is detrimental to subsequent members in case of scarcity of new investors.
It must be clear that entities engaged in such activities likely tend to disappear shortly to the prejudice of their stakeholders.
Consequently, the Commission encourages the public to be prudent in making or placing their monies on these entities especially during this pandemic.
Any public offering or solicitation of investment in the Philippines without the prior license or permit from the SEC is strictly prohibited by law and may be penalized by imprisonment and/or fine. 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 for ALISURVEY ADVERTISEMENT MARKETING SERVICES 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 of 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).
Furthermore, 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.
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 ALISURVEY ADVERTISEMENT MARKETING SERVICES and to exercise caution in dealing with any individuals or group of persons soliciting investments for and on behalf of said entity.
Should you have any information regarding any investment solicitation by ALISURVEY ADVERTISEMENT MARKETING SERVICES or any individuals or group of individuals representing ALISURVEY ADVERTISEMENT MARKETING SERVICES, you can send your report to the EIPD at epd@sec.gov.ph
For the guidance of the public.
10December 2020
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