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8 more firms flagged for Ponzi-like schemes
The Philippine Star
|January 11, 2024
BAGUIO CITY – For operating like Ponzi schemes, eight more entities were flagged yesterday by the Securities and Exchange Commission (SEC), as the state regulatory body advised the public against dealing with them, especially giving in to their solicitations for investments.
The following are not authorized to solicit investments because they lack necessary licenses, according to SEC-Baguio City: House of Forex / H. Flores Business Consultancy Services; Foto Trading International; HarvestCTMall; Crypace Limited/ Crypace Financial Consultancy Services; DNKC Corp.; Gainz Philippines; S&M ventures and Salon de Alexis.
As early as November last year, the SEC warned the public about the investment offerings of House of Forex/H. Flores Business Consultancy Services as it reportedly offers seven ways to earn, each with high interest earnings.
This story is from the January 11, 2024 edition of The Philippine Star.
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