• SEC: Beware of possible money scam via Facebook

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    THE Securities and Exchange Commission (SEC) has warned the public against engaging with an unregistered entity that uses Facebook to entice investors by promising triple returns for their money.

    In an advisory, the SEC declared that Emgoldex Philippines, which conducts transactions online via Facebook, is a non-registered company or partnership.

    Also, the regulatory commission said the company is “not authorized to solicit investments from the public as it did not secure prior registration and/or license or permit to solicit investments from the Commission as required under Section 8.1 of the Securities Regulation Code.”

    “The SEC has received reports that Facebook netizens are being invited or enticed to invest their money in Emgoldex Philippines’ ‘Pinoy Style Patak Patak’ for a promise of huge profit/high returns where an investment of P1,000 will earn profits ranging from P5,000 to P10,000. Or a placement of P35,000 will yield P180,000 to P360,000,” the SEC said.

    The SEC advised the public “to exercise self-restraint in investing their money into such high yield-high risk investment scheme and to take the necessary precautions” in dealing with Emgoldex Philippines.

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    1 Comment

    1. Naniniwala ako na ang EMgoldex ay isang scam at ang ilan lamang sa mga ito ay ang mga sumusunod.
      1. Online Shopping – Di ka pweding bumili kung wala kang SPonsorID na gagamitin in which di na dapat kailangan kung gusto mo lang bumili

      2. DUBAI Office – Wala po silang Storage sa Dubai at temporary lang yung office nila doon. Ang Business Registration nila ay di pumasa at ngayong Feb 2015 ay closed na yung office nila. May bago silang Gold Supplier sa Switzerland at ito ang “GLOBAL SWISS TRADE SA”. And “GLOBAL SWISS TRADE SA” ay rehistrado pero di kilala try mo igoogle at sa emgoldex and punta mo :) so parang sila rin ang may- ari

      3. PAYMENTS – Pwedi ka magbayad sa mga member or sa group. Dito makikita mo na na dapat sa company ka lang dapat magbayad.
      gumawa rin sila ng patak-patak system basta Magtiwala ka lang ok na daw yun :) sa mismong emgoldex walang patak patak system dalawa lang yung membership nila – euro540 and Euro 150.

      4. Online Inquiry – Marami na akong beses sumulat sa kanila at kung ano lang yung pwedi nila sagutin publicly ay sasagutin nila pero yung halimbawa legality ng business,licenses, Locations, time to visit,… kailangan member ka muna bago ka nila sagutin. dito palang may tinatago na sila dapat sagutin nila ng tama at isa pa copy and paste ang karamihan sa mga sagot nila. Naginquire rin ako sa kanila before kung pwedi bumisita sa office nila sa dubai at ang sagot sa akin hindi dahil busy daw sila. Nagtanong rin ako kung pwedi ako magvisit sa main office pero walang sagot sa akin.

      5.OWNER – ibrowse nyo yung website nila,walang info about the Company at kung sino sino ang mga incorporators

      6. PH Office – wala silang office dito sa pinas at kung makaproblema goodbye $$$$. Minsan kinukumpara nila sa mga ibang shopping websites like amazon,ebay… malaki po ang pinaka-iba nila dahil sa products,services at advertisements sila kumikita at walang networking. Again hindi ka pweding bumili ng Gold sa EMgoldex kung wala kang Sponsor ID na gagamitin sa tingin mo ba ok ito? kung ako ang may-ari ng companya gagawin ko ba ito? dapat hindi kasi bibili lang yung tao at magkakapera pa yung May-ari na di kailangan yung Sponsor ID. Isa pa kung ako ang May-ari ng Emgoldex hahayaan ko ba na yung ibang tao ang hahawak ng bayad?

      6. Useful Links:
      http://www.gmanetwork.com/news/video/262544/24oras/sec-nagbabala-vs-kumpanyang-nagbebenta-ng-ginto-nag-aalok-ng-mabilis-na-kita
      http://www.bostonglobe.com/business/2014/08/07/galvin-investigating-emgoldex-gold-selling-enterprise-that-sprung-wake-telexfree/Z2RcOGlpfnBjbx8ezSwrKP/story.html
      http://www.bostonglobe.com/business/2014/10/22/galvin-files-civil-fraud-charges-against-emgoldex/7GPhHjAZdkFmxraXezNDqL/story.html
      http://business.inquirer.net/186515/avoiding-investment-scams