The Securities and Exchange Commission (SEC) has recently issued an advisory (as seen below) on YUMBOSS CORPORATION, YUMBOSS PUTOK BATOK and FRESH SMART SUPER STORE, INC., 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.
The Commission has received information that YUMBOSS CORPORATION/YUMBOSS PUTOK BATOK/FRESH SMART SUPER STORE, INC., are engaged in UNAUTHORIZED investment-taking activities.
YUMBOSS CORPORATION/YUMBOSS PUTOK BATOK/FRESH SMART SUPER STORE, INC., claims that for just 350K (all in) you can earn 16,000 to 20,000 monthly for the next three (3) years and enjoy 25% discount at any of the Putok Batok Restaurants. The President of YUMBOSS CORPORATION is MARVIN J. OJEDA, and its office is located at 146 Sumulong, Mayamot, Antipolo City.
Based on the information gathered by the Commission YUMBOSS CORPORATION/YUMBOSS PUTOK BATOK/FRESH SMART SUPER STORE, INC. are offering investments to the public that offers Co-Ownership Program of Yumboss Putok Batok Restaurant and Fresh Smart Grocery wherein a “co-owner” invests Php350,000.00 and Php500,000.00, respectively to earn 16,000 to 20,000 monthly for the next three (3) years and enjoy 25% discount at any of the Putok Batok Restaurants.
Based also on the information gathered by the Commission, presented is the computation of the co-ownership program being offered by YUMBOSS CORPORATION/YUMBOSS PUTOK BATOK/FRESH SMART SUPER STORE, INC.:
Project Cost: 4.5 Million
Profit Sharing: Based on Investment
Sinking Fund:50% Income
600,000 x 50% x (350,000/4,500,000.00) = 23,333
23,333 x 36 months= Php 840,000 Return of Investment (for 3 years)
Discount:25% at any of the Putok Batok Restaurants
Note: Php 840,000 Return of Investment for 36 months
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.
The public is hereby informed that while YUMBOSS CORPORATION and FRESH SMART SUPER STORE, INC. are registered with the Commission as corporations, however, they are NOT AUTHORIZED to offer, solicit, sell or distribute any investment/securities to the public. Such activities require a Secondary License from the Commission and the securities or investment product should likewise be registered with the SEC before they can be offered or sold to the public under Sections 8 and 12 of the Securities Regulation Code (SRC). Both entities were NOT issued such license by the Commission.
Consequently, those who act as salesmen, brokers, dealers or agents of YUMBOSS CORPORATION/YUMBOSS PUTOK BATOK/FRESH SMART SUPER STORE, INC., in selling or convincing people to invest in their investment schemes including solicitations or recruitment through the internet may likewise be prosecuted and held criminally liable under Section 28 of the SRC and penalized with a maximum fine of Five Million Pesos (Php5,000,000.00) or maximum penalty of Twenty One (21) years 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 criminal 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).
In view thereof, the public is hereby advised to STOP INVESTING in the investment schemes being offered by any individual or group or persons allegedly for or on behalf of YUMBOSS CORPORATION/YUMBOSS PUTOK BATOK/FRESH SMART SUPER STORE, INC.
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 email@example.com.
For guidance of the public.
Pasay City, 09 March 2021.