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What is the latest SEC advisory on PHILHELP ADMINISTRATION OF FINANCIAL MARKETING and PHILHELP INTERNATIONAL LENDING COMPANY?

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Kirsten
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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.

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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:

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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.

For Lenders:

Minimum capital = Php2,000.00

Maximum capital = Php5,000,000.00

Lock-in Period = 45 days

For Borrowers

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

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2. For every six paid individuals invited, get automatic 24/7payout
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3. Referral Income
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4. Invite of invite referral income
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5. “PROJECT 200”
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Under “PROJECT 200”, the following packages are offered:
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To entice the public, Philhelp Micro Financing Inc. is presenting to the public its 
purported Articles of Incorporation when records of the Commission show that it is not registered as a corporation.
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PHILHELP MICRO FINANCING INC., PHILHELP ADMINISTRATION OF FINANCIAL MARKETING, PHILHELP INTERNATIONAL LENDING COMPANY and3005 LEVELS CORPORATION are engaged in unauthorized lending activities and entice the public to invest as a lender with a guaranteed interest of 100% or double-your-money in 45 days. Such activities are clearly in violation of the Financing Company Act and Lending Company Regulation Act of 2007 and the Securities Regulation Code since the company has no Certificate of Authority to Operate as a Financing or Lending Company and it lacks the requisite Secondary License or to offer or sell securities to the public. as prescribed under Section 8.1of the Securities and Exchange Commission.
 
Further, PHILHELP MICRO FINANCING INC., PHILHELP ADMINISTRATION OF FINANCIAL MARKETING, PHILHELP INTERNATIONAL LENDING COMPANY and3005 LEVELS CORPORATION 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.
 
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 PHILHELP MICRO FINANCING INC., PHILHELP ADMINISTRATION OF FINANCIAL MARKETING, PHILHELP INTERNATIONAL LENDING COMPANY and3005 LEVELS CORPORATION and to exercise caution in dealing with any individuals or group of persons soliciting investments for and on behalf of the said entities.
 
Hence, those who act as salesmen, brokers, dealers or agents or claim to act as such for PHILHELP MICRO FINANCING INC., PHILHELP ADMINISTRATION OF FINANCIAL MARKETING, PHILHELP INTERNATIONAL LENDING COMPANYand3005 LEVELS 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 Commissionvs. 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.

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 epd@sec.gov.ph.
 
For the guidance of the public.
Pasay City, 09March 2021

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