BY CHINO S. LEYCO REPORTER

THE Securities and Exchange Commission (SEC) has raised the alarm on investment scams once again, this time around involving a group of companies called Rise E-Commerce Systems Inc.

The regulator’s warning comes at that time of the year when the public is awash with cash, either in the form of employment-derived bonuses or remittances sent by relatives working abroad.

In a notice, the SEC warned that Rise E-Commerce along with its 43 affiliate companies are not licensed to solicit investments and no longer operate at the address indicated in its articles of incorporation.

The SEC made the notice after it received complaints that Rise E-Commerce and its affiliates were soliciting money from the public for placements in investment contracts.

“The public should take the necessary precautions before entering into transactions with [Rise E-Commerce],” the SEC’s notice read.

Among the affiliates of Rise E-Commerce that the SEC named are Resource Interface and Services Exchange (Rise) Phils. Ltd. Co., Rise E-Commerce Blue Navotas Inc., Rise E-Commerce Cebu City South Inc., Rise E-Commerce Dagupan Inc., Rise E-Commerce Marikina Inc. and Rise E-Commerce Novaliches Inc.

Also forming part of the group are Rise AAA-Makati Inc., Rise Ad Mandaluyong Inc., Rise Cebu City Inc., Rise Center Bohol Inc., Rise Chit Pandacan Inc., Rise Commonwealth Inc., Rise DII Makati Inc., Rise Excel Pangasinan Inc., Rise Global City Taguig Inc., Rise Iloilo Inc., Rise Kalibo, Aklan Inc., Rise Lapu-Lapu City Inc., Rise Las Piñas Inc., Rise Mandaue Cebu Inc., Rise MKV Marikina Inc., Rise Mymar Inc., Rise Muntinlupa City Inc., Rise Nyala Bacolod Inc. and Rise Paco-Resterio Inc.

Other unlicensed affiliates listed by SEC are Rise Palawan Inc., Rise Paranaque City Inc., Rise Rellama SF La Union Inc., Rise Pines Baguio Inc., Rise Project 8 Inc., Rise Roosevelt Quezon City Inc., Rise Talisay Inc., Rise Trisome Valenzuela Inc., Rise Virmal Batangas Inc., Rise Cycer Central Inc., Rise Cybiz Inc., Rise E-Power Inc., Rise E-Consumers Center Cainta Inc., Rise Financial Management Group Inc. and Rise Information Technology Group.

The SEC said any person with questions about Rise E-Commerce may call the regulator’s compliance and enforcement department at telephone number 584-5047 or send an e-mail to This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

In 2007, the SEC had filed with the Department of Justice criminal charges against Performance Investment Products Corp. (PIPC) over an investment scam after the owner ran away with about $250 million in the public’s money.

Also in that same year, a Ponzi scheme implicated some media personalities after they invested in these scams, with their names used to lure potential investors.

A Ponzi scheme involves no sale of services or goods, but promises high yields for every investment made.

In reality, the money paid by the downstream investors would be used to compensate early birds.

Among the firms that the SEC said were involved in Internet-based Ponzi schemes were Francswiss, Swiss Cash, Universal Forex System, Global America and Private Forex Trade Inc.