THE Securities and Exchange Commission (SEC) has warned the public against investing in Dollar International Investment Program, a firm purportedly based in Las Vegas, Nevada in the US, because it is not registered with the agency either as a corporation or partnership.
“There being no primary license, it is likewise not authorized to solicit investments, which requires a secondary license as provided under section 8.1 of the Securities Regulation Code,” the agency’s advisory states.
According to the SEC, Dollar International solicits investments from the public at a minimum amount of P2,000, which the latter promises to double without having to recruit other investors.
However, in another scheme offered by the firm, should an investor recruit one person, who would invest P2,000, the said investor’s money will gro w to P6,000, and two recruits would increase an initial investment of P2,000 to P10,000.
“The public is hereby advised to exercise self-restraint from investing their money into such high-yield, high-risk investment schemes and to take the necessary precaution in dealing personally or online with individuals representing [Dollar International],” the SEC said.