The Securities and Exchange Commission has filed criminal complaints before the Department of Justice against several groups for allegedly engaging in investment schemes without the necessary registration and licenses from the Commission.
Charged on Tuesday for violating several povisions of Republic Act 8799, or the Securities Regulation Code (SRC) are the Bear Mountain World, Inc., Beyond Skin Care Ventures, Inc., SCET Colleens Corp. and Great 4 International Marketing Corp.
The complaints covered incorporators and officers of the companies.
The complaint against Bear Mountain and its officials and incorporators said “they were found to be offering investments with a guaranteed monthly income of 20 to 30 percent of the amount invested in three years.”
As for Beyond Skin Care, which is doing business under the name Dermacare Face Body and Laser Center, the SEC said “it entices the public to invest in its franchise partnership agreement” with a promise of a guaranteed return equivalent to 12.6 percent interest every quarter for a period of five years, with complementary salon services.
SEC said Great 4, operating under the business name and style Home Organic Wellness offers a guaranteed monthly income equal to 14.4 percent of the amount invested in 18 months.
“The group also used a marketing scheme for selling motorcycles to incentivize and lure more investors to participate and join its programs,” the SEC complaint said.
SCET Colleens was found to be offering investments ranging from P3, 800 to P1.08 million, with a return on investment supposedly from 5 to 8 percent per month.
“The corporations were primarily found to have solicited investments from the public without without the proper license from the SEC, in violation of Section 8, 26 and 28 of RA 8799.
The SRC prohibits the sale or distribution of securities without a registration duly filed and approved by the SEC.
