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THE SECURITIES and Exchange Commission (SEC) Philippines recently warned the public against participation in investment schemes by Extremebot Corp. and Greenlift Wellness Products Trading (Greenlift) as these entities do not have a license to sell securities.
In notices on its website, the corporate regulator pointed to Extremebot and Greenlift as unauthorized operators of investment schemes.
The SEC advised the public “not to invest or stop investing in any investment plan offered by any individual or group of persons purportedly for or on behalf of (Extremebot and Greenlift) and to beware of any individual or group of persons requesting investments for and on your behalf. “
Extremebot is currently registered as a corporation primarily engaged in the retail and online sale of beauty products, the SEC said. It is not licensed to “solicit, accept or take investments from the public or issue investment contracts “.
The SEC said the firm currently offers investments through a membership fee ranging from P135 to P160. Members “can earn around P0.010 to P0.08 for writing unlimited captcha or solving math problems; P40 for each direct lead; and P10 and P5 for each indirect lead in 1S t Y 2North Dakota level, respectively. “
Meanwhile, Greenlift is not registered with the SEC as either a corporation or a partnership, although the Department of Commerce and Industry had granted it a business name registration certificate months ago. Like Extremebot, it is not authorized to solicit investments from the public.
Today, Greenlift offers investments with the promise of referral bonuses, business benefits, and gifts for investor members.
For violating the Securities Regulation Code, the people behind Extremebot and Greenlift can be penalized with a fine of P5 million, 21 years in prison, or both. – Angelica Y. Yang
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