THE Securities and Exchange Commission (SEC) has warned the public against investing in two entities that it said are not authorized to issue and sell securities in the Philippines.

In separate advisories posted on its website, the corporate regulator flagged One 1Key Progress Booster, Inc. (OKPB) and Goldia by Shine, which are both registered with the commission.   

The certificates of registration of the two entities only grant juridical personality but do not empower them to sell securities without an approved registration statement, the SEC said.

It added that people or groups claiming to represent Power Apps under the registration of OKPB were urging the public to invest by paying a P1,000 membership fee.   

“Once registered, the member becomes part of the second business of OKPB which they refer to as ‘quest,’ whereby an investment of P5,000 will guarantee a return of 50% in just 15 days,” it said. “There is no proof of the invested money. However, the names are written on the logbook with the corresponding amount invested.”

The SEC said OKPB uses a scheme where investors could also invest P100,000 and earn 300% to 400% interest after five to 10 days.   

“Investors were advised that the operation will only last until the end of this year, but assured the members that their shares will be transferred to a new company and that it will still earn but not as much as 50% of the investment made,” the regulator said.

“Allegedly, this is to get away from paying big taxes to the Bureau of Internal Revenue,” it added.

Meanwhile, the SEC said Goldia by Shine, which is under the registered license of Fujesan Distribution Corp., claims to be selling jewelry from Hong Kong and Bangkok at low prices.   

The entity allegedly offers compensation plans with investments ranging from P20,000 to P300,000 with a promise of return of 5-8% monthly interest.    

“The public is made aware that an investment contract, which is a kind of security, exists when there is an investment or placement of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others, which is prominent in the scheme of Goldia by Shine,” the SEC said. — Revin Mikhael D. Ochave