FMD Logistics Trucking Corporation or FMD Logistics International Corporation has been soliciting investments from the public illegally according to the SEC advisory.
The SEC says the above companies were operated by John Edward Obatay Victorio, Mark Anthony Ballesteros, and Ronel Joben Lapira.
With an initial investment of Php11,000.00 to Php315,000.00 for a co-partnership, FMD Logistics promises a profit of up to 55% in just 6 months.
The company advertises its investment-taking scheme through its Facebook page, offering four types or levels of the initial investment. As the levels progress, so do the initial investment and the expected profit.
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FMD Logistics Trucking Corporation Co-Partnership
FMD Logistics offers the following prices of its co-partnership program. These programs are with guaranteed returns and a schedule of payments. Prices are Php11,000, Php23,000, Php55,000 and Php315,000.
- 11k Program. Has 1 year life insurance under the company which include 5,000 due to accident or natural death and 6,000 after the month contract. Get a total of 33% from your investments. Returns will be spread within six months.
- 23k Program. Has 1 year life insurance under the company which include 10,000 due to accident or natural death and 13,000 after the month contract. Get a total of 37.8% from your investments. Returns will be spread within six months.
- 55k Program. Has 1 year life insurance under the company which include 20,000 due to accident or natural death and 35,000 after the month contract. Get a total of 45% from your investments. Returns will be spread within six months.
- 315k Program. Has 1 year life insurance under the company which include 100,000 due to accident or natural death and 215,000 after the month contract. Get a total of 55% from your investments. Returns will be spread within six months.
FMD Logistics Trucking Corporation SEC Advisory
The SEC says the so-called co-partnership program of FMD Logistics Trucking Corporation is an investment contract because it involves the public offering and sale of securities. To profit from the programs, investors only need to invest or place money.
In a nutshell, an “investment contract” exists when money is invested or placed in a common enterprise with the reasonable expectation of profits from the efforts of others, as is the case with FMD Logistics Trucking Corporation.
Thus, FMD Logistics Trucking Corporation or FMD Logistics International must not only be duly registered with the Commission but also obtain the necessary registration and/or license from the Commission.
Is FMD Logistics Trucking Corporation Legit or Scam?
FMD Logistics Trucking Corporation is an investment scam. It has no license or authority from the SEC to solicits investments from the public. While FMD Logistics Trucking Corporation is not registered with the Commission, FMD Logistics International Corporation is, with Company Registration No. 2021010005900-01.
They both operate without the necessary licenses and authority to solicit, accept or take public investments or placements or to issue investment contracts and other securities defined in Section 3 of the Securities Regulation Code (SRC).
The SEC warns the public to stop investing in any scheme offered by FMD Logistics Trucking Corporation, FMD Logistics International Corporation, or other entities engaged in investment-taking schemes like co-partnership and co-ownership programs that aren’t registered with the Commission.
The public is reminded that investing in an unregulated entity lacks investor protection due to the absence of prudential and market conduct requirements.
Penalty if Your Promote an Investment Scam
The Securities and Exchange Commission warns all unscrupulous individuals and/or entities that violations of the Securities Regulation Code, the Revised Corporation Code, and other rules and regulations enforced by the Commission will result in severe penalties.
Those who act as salesmen, brokers, dealers, or agents for such unauthorized entities, such as the operators of the FMD Logistics Trucking Corporation and FMD Logistics International Corporation’s Facebook pages, in selling or convincing people to invest in their investment scheme, including solicitations and recruitment through the internet, may also be criminally prosecuted.
Similar to the operators of the FMD Logistics Trucking Corporation and FMD Logistics International Corporation, those who invite or recruit others to join or invest in such venture, or offer investment contracts or securities to the public, may face criminal liability, or be sanctioned or penalized accordingly, as held by the Supreme Court in (G.R. No. 195542, 19 March 2014).
NBI Arrested FMD Logistics Trucking Corporation Scammers
The video below shows the arrest of the scammers of this company.