Top trending topic online! The Securities and Exchange Commission (SEC) warns the Filipino Citizen about an online investment scheme. According to SEC, the Emgoldex Philippines is using the power of social media to discuss and convince people to invest their money to make it double or triple of investment returns.

According to the source, you will invest P1, 000 that would earn profits ranging from P5, 000 to P10, 000 or a placement of P35, 000 would yield P180, 000 to P360, 000 as promised.

As the SEC advisory, Emgoldex Philippines is not a registered corporation or partnership. Likewise, such entity is not authorizes to solicit investments…

Other countries like Massachusetts, banned from Finland, Colombia, Estonia, and Panama also gives awareness to the public about this high-risk investment scheme.

According to the Securities Regulation Code Republic Act No. 8799, “a fine of not less than Fifty thousand pesos (P50, 000.00) nor more than Five (5) million pesos or imprisonment of not less than seven (7) years nor more than twenty-one (21) years of imprisonment for selling unregistered securities of products without the approval of SEC”.

“Likewise, such entity 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 said.

For more details, watch the video above….