The Securities and Exchange Commission (SEC) has recently issued an advisory (as seen below) on PHILHELP ADMINISTRATION OF FINANCIAL MARKETING and PHILHELP INTERNATIONAL LENDING COMPANY, 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, PHILHELP ADMINISTRATION OF FINANCIAL MARKETING/PHILHELP INTERNATIONAL LENDING COMPANY (“PHILHELP”)through its president, REYNALDO CHENG PAMEN, continuous to operate despite the ADVISORY posted against his company on 17 September 2020. (https://www.sec.gov.ph/advisories-2020/philhelp-administration-of-financial-marketing/)
Persons or group of individuals on behalf of Philhelp are now using the name PHILHELP MICRO FINANCING INC. and representing that they are under the umbrella of 3005 LEVELS CORPORATION.
Per records, PHILHELP MICRO FINANCING INC. is not registered with the Commission either as a corporation or as a partnership, while 3005 LEVELS CORPORATION was incorporated on 3 June 2019 under SEC Company Registration No. CS201952872with a primary purpose of:
“To engage in, buying, selling, leasing, renting, leased property or otherwise and to invest, own, improve, develop, development of small scale housing, subdivide, operate, manage, any real estate, and properties so acquire to erect or cause to be erected on any land owned held or occupied by the corporation, housing projects, commercial establishment, buildings or other structures with their appurtenances and to mortgage, sell for rooms or parts of the building or other thing incidental to any of said business except Real Estate Investment Trust (REIT) and without engaging in the practice of any licensed profession by the PRC.
Provided that the corporation shall not solicit, accept or take investments/placements from the public neither shall it issue investment contracts.”
However, 3005 LEVELS CORPORATION has no secondary license to operate any investment-taking activities and to conduct lending/financing activities.
Below are recent posts gathered from their Facebook page and from the Facebook accounts of individuals promoting their activities:
Upon investigation, it was found out that the company continued its “PEER to PEER” platform and has a new scheme/Complan called “PROJECT 200” where the waiting time or lock–in period was reduced to 45 days instead of 6 months.
How to join:
Interested individuals are directed to visit the company’s official website at Philhelp -International Lending Corporation (https://www.philhelp.net) to register and choose either to be a lender or a borrower.
Minimum capital = Php2,000.00
Maximum capital = Php5,000,000.00
Lock-in Period = 45 days
Borrow up to P50,000.00
Present one Identification Card
No processing fees
No personal guarantees
No Liens, no collateral
Complete Registration in 5 minutes
Approval as fast as 24-hours
Under the new scheme there are ways to earn presented by “PHILHELP”
1.Invite referral income
Should you have any information regarding the operation of the subject entity, please call the Enforcement and Investor Protection Department at telephone numbers (02) 8818-6047 or send your report to the EIPD at firstname.lastname@example.org.