THE Securities and Exchange Commission has filed criminal complaints against four firms and 33 individuals for soliciting investments from the public without the necessary registration and licenses.In a statement, the SEC said it filed complaints with the Department of Justice against Bear Mountain World, Inc., Beyond Skin Care Ventures Inc., SCET Colleens Corp., and Great 4 International Marketing Corp. for violating provisions of the Securities Commission Code .
SCET Colleens was found to be offering a supposed return on investment of from 5 to 8 percent for investments ranging from P3,800 up to P1.08 million.Great 4 International, operating under the business name Home Organic Wellness, was found to be offering to the public a guaranteed monthly income equivalent to 14.4 percent of the amount invested in 18 months. It also used a marketing scheme for selling motorcycles to lure investors to take part in its scheme.