By Keren Concepcion G. Valmonte, Reporter
THE Securities and Exchange Commission (SEC) is warning the public not to invest in four entities with their respective unregistered investment programs.
The regulator issued separate advisories against Sky International Trade Co., Ltd./Philippine88.com, AVZ Ventures, Inc., Great4 International Mktng. Corp., and SFCShare. The entities’ “programs” are said to be pyramiding and Ponzi schemes.
“The names of all those involved will be reported to the Bureau of Internal Revenues (BIR) so that the appropriate penalties and/or taxes be correspondingly assessed,” the SEC said in all four advisories.
Sky International and SFCShare were flagged by the commission as their respective investment programs resemble a “Ponzi scheme,” wherein older investors earn from the investment of newer recruits and “is designed mainly to favor its top recruiters and prior risk takers and is detrimental to subsequent members in case of scarcity of new investors.”
Sky International offers nine “VIP plans” with “20 daily grabbing orders.” Depending on the VIP plan, Sky International’s investors can earn as much as P20 to P2,400 daily on top of a “direct order rebate” worth 10% and an “indirect order rebate” of 5%, the SEC said.
Meanwhile, the commission said SFCShare “claims to be an ‘interactive alliance advertising service platform’ for Philippine online e-commerce, Internet companies and…
