The Securities and Exchange Commission (SEC) has warned the public against investing in Frutas Comida Zamboanga, which offers a guaranteed return of 20 percent per month on its investment products.
In a November 24 bulletin, the agency noted Frutas Comida’s investment-raising activities because the group did not obtain the necessary registration with the SEC, as well as the appropriate securities registration procedure and a certificate of permission to place and sell securities.
Posts on the Frutas Comida Facebook page show that it encourages investors to invest between 5,000 and 50,000 pesos in exchange for a monthly income of 6,000 to 60,000 pesos, respectively. Investments are collected through online banking channels and other digital payment platforms.
The profits distributed to the investor participants are believed to come from the sale of fruit and food tray packages. Frutas Komida also noted that investors only need to invest in their business and expect a 20 percent return every month.
The scheme involves the sale and offer of securities to the public in the form of investment contracts, whereby an individual invests their money in a common enterprise and expects to profit primarily from the efforts of others, according to the SEC’s Enforcement and Investor Protection. Branch.
The records show that Frutas Comida is not registered with the SEC as a corporation or partnership, nor is it authorized to solicit investments from the public because it has not obtained the necessary license to view securities or solicit investments.
“In view of this, the public is advised to exercise caution in dealing with any individual or group of individuals seeking investment for and on behalf of allegedly Frutas Comida Zamboanga. The public is also advised not to invest or stop investing in an investment scheme offered by any persons claiming to represent said person,” the SEC said in a statement.