The Securities and Exchange Commission (SEC) has warned against the investment solicitation of Frutas Comida Zamboanga, which it said is not sanctioned by the agency.
The SEC in a statement said Frutas Comida has not secured registration from the SEC for its solicitation business which offers a return of 20 percent per month. Frutas Comida markets its unauthorized investment scheme on social media.
“Posts on Frutas Comida’s Facebook page show that it has been encouraging investors to invest amounts ranging from P5,000 to P50,000, in exchange for monthly returns of P6,000 to P60,000, respectively. Investments are collected through online banking channels and other digital payment platforms, the SEC said.
Profits distributed to member-investors supposedly come from the sale of fruits and food tray packages.
