The Securities and Exchange Commission has warned the public against investing in 5 firms that sell investment scams or offer investment products that are not registered with the agency.
If the victim makes the payment, the fraudster either asks for more fees from the victim or they simply disappear after obtaining the amount. “Their schemes typically involve promising a victim a significant share of a large sum of money, in return for a small up-front payment, which the fraudster requires in order to obtain the large sum. If a victim makes the payment, the fraudster either invents a series of further fees for the victim or simply disappears,” the SEC said.
Livewell Multiventures entices the public to invest online or through the internet by availing either the Tester Plan, Home Starter and Eagle Plan by investing P500, P5,000 and P50,000, respectively, to earn a fixed daily income of 3 percent for 60 days or for a total of 180 percent in just 2 months.