The Securities and Exchange Commission (SEC) has flagged the investment scheme of one-person corporation Sophia Francisco Holding OPC and its affiliates.
The SEC in an order dated Nove.r 24, 2022 directed Sophia Francisco Holding OPC, Financial Consultancy Services Sophia-Francisco, and Sophia Francisco Trading to stop offering and selling investments to the public which were found to be operating without license from the agency.
“The group was also ordered to cease its internet presence relating to its investment scheme. They were further prohibited from transacting any business involving funds in its depository banks, and from transferring, disposing, or conveying any related assets to ensure the preservation of the assets of the investors,” it added.
The Sophia Francisco Group offers to the public investments worth as low as P500 with guaranteed earnings of up to 3 percent daily for 20 days. It also gave a 5 percent referral fee to those who can invite new investors into the group, the SEC said.
“While the Sophia Francisco Group is registered as a one-person corporation with the SEC, it has not been issued a secondary license that would authorize it to solicit investments from the public, nor does the group have a pending application for such license,” the SEC said.
The SEC also issued a similar order to BeastnessAllDay Corp.
be promising 10 percent to 12 percent monthly returns after a five-month period to investors who invest P50,000 into the group.
“The guaranteed returns will supposedly come from its investments, sale of gadgets, real and personal properties, luxury vehicles, shoes, and other apparels,” the SEC said.
