SEC: Elite Alliance Vera (EAV) Trade is a Ponzi Scheme and Investment Scam

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According to the SEC, Elite Alliance Vera Trade is a Ponzi Scheme and an investment scam.

Individuals or groups of individuals representing the Elite Alliance Vera Trade, owned and operated by Eins Angelo Ruiz Valencia, are enticing the public to invest their money in the said entity with the promise of monetary rewards or profits, according to the Securities and Exchange Commission.

The said entity is enticing the public to invest a minimum of P500.00 with a guaranteed 100% return of investment every 15 days or for a total of 600% in just 90 days or three months with 50 percent.

Elite Alliance Vera Trade EAV Trade Scam or Legit Review

The entity claims to trade forex and runs the EAV System, “a simple auto trading platform where you can earn passive and unlimited income.”

To sell securities to the public, the scheme described above must be properly registered and/or licensed under Section 8 of the SRC.

The Commission’s records show that while EAV Trade was registered as a one-person corporation on July 22, 2021, it is NOT AUTHORIZED to solicit public investments because it has not obtained prior registration and/or license from the Commission as required by Sections 8 and 28 of the SRC.

Elite Alliance Vera Trade is a Ponzi Scheme and Investment Scam

Additionally, the scheme employed by ELITE ALLIANCE VERA TRADE SYSTEM OPC/ELITEALLIANCEVERA COMPUTER TRADING/ELITE ALLIANCE VERA TRADE LTD/ELITE ALLIANCE VERA TRADE INTERNATIONAL/EAV TRADE demonstrates characteristics of a possible “Ponzi Scheme” in which funds from new investors are used to pay “fake profits” to prior investors and is primarily designed to benefit its top recruiters and prior risk-takers.

You should be aware that the offering and sale of such securities in the form of investment contracts are fraudulent and unsustainable. In this case, the Commission will NOT issue a Permit to Offer and Sell Securities to the Public.

As a result, the Commission warns anyone breaking the Securities Regulation Code, the Revised Corporation Code, or any other law, rule, or regulation it enforces.

Punishment for Promoting Elite Alliance Vera Trade

Any person selling or persuading people to invest in the investment scheme offered by the entity may be prosecuted under Section 28 of the SRC and fined up to Php5,000,000, if found guilty.

According to the Supreme Court decision in Securities and Exchange Commission vs. Oudine Santos, those who invite or recruit others to join or invest in such ventures, or offer investment contracts or securities to the public may be criminally liable or otherwise sanctioned (G.R. No. 195542, 19 March 2014).

EAV Trade Elite Alliance Vera Trade Legit or Scam Review

Stop Investing in EAV Trade

Due to this, the public is advised NOT to invest in any investment scheme offered by Elite Alliance Vera Trade and to avoid dealing with any individuals or groups soliciting investments or recruiting investors for the said entity.

If you know of any investment solicitation by individuals or groups on behalf of Eins Angelo Ruiz Valencia Please report to the ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT at epd@sec.gov.ph.

Read: The Pi Network Scam, Axie Infinity Scam

SEC Warns EAV Trade Has No Secondary License Yet

In its advisory issued September 9th, 2021, the SEC clairifies that the EAV Trade has not secured the Seconday License yet. The commission said that the document showed by Valencia to the public in its social media post was a purported Certificate of Filing of Amended Articles of Incorporation of a corporation named as “ELITE AV HOLDINGS INC.” with a Company Reg. No. CS202155332.

The said document is fake as the Commission’s office which appeared thereat is still at Mandaluyong City and that the said document appears to be signed only on 31 August 2021.

The SEC said:

Worse, the document that , President of Elite Alliance Vera Trade System OPC,manifests to be the company’s secondary license is fake or a forgery. For all intents and purposes, the mainobjective of Mr. Valencia is to deceive the gullible that this Commission has allowed him to solicit investments from the public. Such despicable act makes a mockery of the law the Commissionenforcesand implements.

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