The Securities and Exchange Commission (SEC) has recently issued an advisory (as seen below) on EXTREMEBOT CORPORATION, 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 EXTREMEBOT CORPORATION(with various names being used in social media such as: Extremebot Online Shop, Mac.ph Advertisement, Extremecorp130; MACBOT; Extremecorp100) headed by Mon Carlo A. Castro, are enticing the public to invest their money in said entity:
As posted online, EXTREMEBOT CORPORATION is offering investments to the public in the guise of a membership fee ranging from Php135.00 to Php160.00 (per different versions of the purported online platform) where a member shall earn:
1.Through unlimited captcha typing or solving math problem and shall earn per captcha ranging from Php.010 to Php0.080;
2.Php40.00 for every direct referral; and
3.Php10.00 and Php5.00 for every indirect referral on the 1st and 2nd level, respectively.
As the aforementioned schemes involve the sale of securities to the public, 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 Section 8 of the SRC.
Per records of the Commission, EXTREMEBOT CORPORATION was registered with the Commission as a corporation on 30 September 20202 under SEC Reg. No. CS202007536 with a primary purpose of:
“To engage in online and retail selling of rejuvenating sets or beauty products such as soap, toner, night cream and sun block.
Provided that the corporation shall not solicit, accept or take investments/placements from the public neither shall it issue investment contracts.
Through existing telecommunication facility and subject to Data Privacy Act of 2012 (RA 10173)."
That while EXTREMEBOT CORPORATION has been registered as a corporation, 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 28of the SRC.
Hence, those who act as salesmen, brokers, dealers or agents or claim to act as such for EXTEREMEBOT CORPORATION 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).
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 EXTREMEBOT CORPORATION and to exercise caution in dealing with any individuals or group of persons soliciting investments for and on behalf of it.
Should you have any information regarding the operation of the subject entity, please call the Enforcement and Investor Protection Department at telephone numbers (02) 8818-6047or send your report to the EIPD at email@example.com.
For the guidance of the public.
Pasay City, 3December 2020.