SEC: iWatch.ph Corporation is a Pyramid Scheme

A sad day for iWatchph International or iWatch.ph Corporation.

Hey iWatchers, let me analyze your business model and tell you that the SEC warning is long over due.

So, how did it started?

In its advisory released on April 20th, 2021, the SEC warned the public against investing in iWatch.ph Corporation (iWatchph International). The government regulator said the subject company is soliciting investments from the public illegally.

In addition, the SEC said, iWatch.ph is operating a pyramid scheme.

So, why did the SEC considered iWatch.ph a pyramid scheme? Why is it a scam? Who are the people behind the company?

Read this article to understand iWatch.ph (the MLM company) and how its business operates.

Before you proceed, please note there is a website called iwatch.ph. That is a legit site that offers quality professional care and companionship to individuals in need of health assistance – whether it’s at the home, hospital, or during travel.

In this article, I will be using iWatch.ph, iWatch PH International or iWatch.ph Corporation interchangeably.

What is iWatch.ph?

iWatch.ph (iWatch PH International or iWatch.ph Corporation) is a pyramid scheme masking as a legitimate Multi-Level Marketing (MLM) company in the Philippines.

Based on its website, iWatch.ph Corporation considers itself as an online business that gives Filipinos a lifetime reason to earn in 20 different ways and with multiple features.

The company considers itself as the game-changer of online marketing. Whatever the basis of this claim, only the founders know. MLM companies are fun of exaggerated statements. So, expect iWatchph to do the same.

Who are the people behind iWatchph?

Jerome Operio, Reiner Cadizand Joseph Regalario are managing the pyramiding scheme of iWatch.ph Corporation. They created the iWatchph International Facebook page.

They constantly posts top earners from their pyramiding operations.

iWatch Ph Corporation Internation Review Legit or Scam Founders

Compensation Plan

Like most recruitment-based MLM I have reviewed, iWatch focuses more on the recruitment side. To make money with this company, one must invest Php2,188.

After paying the capital, you will receive 6 pieces of Executive Soaps.

Trust us. You won’t be an executive after using the soap. In fact, you’ll become an executive scammer if you promote this scheme.

Here are several ways to earn aside from selling your ultimate soap.

  1. Sign-up Package. Receive soaps, 50 itokens, and i50 credits. An itoken is equivalent to Php10 while an icredit equals Php1.
  2. Direct Selling Bonus. Sell products at a discount.
  3. iCredit Distribution Bonus. Receive 2 icredits every day aside from the initial 50.
  4. Daily iToken Distribution. Receive 25 itokens per day for 25 days
  5. iToken + Bonus.
  6. Direct Referral Bonus. A member/iWatcher will receive Php200.00 pesos from the company and Php500.00 will be deducted from his Ads Wallet which will be transferred to his available balance. The Ads Wallet of a member/iWatcher will not be converted into cash if he/she was not able to recruit.
  7. Leadership Bonus.
  8. Sales Match Bonus.
  9. Maintenance Bonus.
  10. Repeat Direct Referral.
  11. Unilevel Bonus.
  12. iAdvertise Commission.
  13. iFoodcart Franchising Business.

The rest of the methods are discussed in the video below:

If you examine carefully the compensation plan, you’ll notice that iWatch.ph Corporation incentivized recruitment heavily than the actual sale of products or services.

This prompted the SEC to issue an advisory against investing in iWatch.

Is iWatch.ph Corporation (iWatchph International) Legit or a Scam

iWatchph Corporation is a scam. It’s a pyramid scheme. It solicits investments from the public illegaly.

Read what the SEC says:

The public is hereby advised to exercise due care and caution in investing their money in this typeof scheme being offered by iWATCH.PH and/or its agents. In the instant case, the scheme of iWATCH.PH has the characteristics of a Pyramid scheme. The Pyramiding scheme involves securities because for payment of a sum of money, often nominal, the investor participates in a recruitment scheme that promises a stream of profits. The scheme that requires recruitment in a two-pronged structure takes the form of a pyramid, one that grows wider at the bottom, and thrives with the supply of new recruits to the scheme. Here, the recruitment fees collected from new recruits are used to pay the recruiting commissions to earlier recruits.source

It’s crystal clear. The SEC has gathered enough evidence to conclude that the subject entity is running a pyramid scheme.

While it appears that iWatch.ph has products, the intention of the members or affiliate is not to sell them. Rather, they joined the scheme so that they will have the right to recruit other investors and make money from their payments.

Under the consumer law, pyramid schemes are illegal in the Philippines.

Furthermore, the SEC discovered that the company has violated the investment law.

The SEC added:

As the scheme of iWATCH.PH involves the sale of securities to the public, the SRC requires that the issuing entity must be a registered corporation with the SEC, the said securities offered are duly registered and that the appropriate license and/or permit to offer and sell securities to the public are issued to the corporation and/or its agents, pursuant to the provisions of Sections 8 and 28 of the SRC.

Records of the Commission show that while iWATCH.PH CORPORATIONis registered with the Commission as a corporation, it is not authorized to solicit investments from the public as it did not secure prior registration and/or license to solicit investments from the Commission as prescribed under Section 8 and 28 of the SRC.

Imprisonment and Penalty if you Promote iWatchph

The law on investments is harsh because it protects the investing public from illegal investing activities. When you promote iWatchph International, here is what you’ll get:

“Those who act as salesmen, brokers, dealers, or agents of iWATCH.PH in selling or convincing people to invest in their investment schemes including solicitation or recruitment through the internet may likewise be prosecuted, held criminally liable, and penalized with a maximum fine of Five Million Pesos (Php5,000,000.00) or a maximum penalty of Twenty-One (21) years of imprisonment or both pursuant to Section 73 of the SRC (SEC vs. Oudine Santos (G.R. No. 195542, 19 March 2014).”

Conclusion

iWatch.ph Corporation is pyramid scheme. It solicits investments from the public illegally. It is a scam.

The company’s business model relies on the recruitment of new investors. Payments of new investors are then used to finance the promised returns of earlies members.

iWatch.ph operations won’t last long. When new investments are no longer coming in, the pyramid scheme will collapse, leaving the people at the bottom of the pyramid at a loss.

In pyramid schemes, those who are making money are the founders and early promoters. This is done at the expense of the poor downlines.

Avoid iWatchph. Invest your money somewhere else!

9 thoughts on “SEC: iWatch.ph Corporation is a Pyramid Scheme”

  1. Most MLM companies are simply trying to scam you. Its a pyramid scam. I understand why people get drawn to this type of businesses but sooner or later people will realize how “foolish” they are. Thus type of businesses are not even allowed abroad because its a Pyramid SCAM. Ewan ko ba bakit sa Pilipinas na sobrang hirap na nga ng mga tao lalo pang pinapahirapan ng kapwa Pilipino.

    Reply
  2. THANK YOU IWATCHPH INTERNATIONAL sa pag tulong at sa ibang iWatcher. Sobrang dami natulungan ni iWatchPH… yung mga na scam sila yung na scam sa katamaran. pag sinipagan mo at ginagawa si iWatchPh kikita ka at kikita ka. SEC issue is already CLEARED.
    iWATCHPH is not an investment company and does not solicit investment contracts. Our business purely involves direct selling of goods and services to our customers and members, providing them the opportunities to grow. Examples of these products and services include:
    i. Direct Selling of Package Products- 25%-50%;
    ii. Load Retailing- 3% Rebates;
    iii. Real Estate Agent- 2% Commission;
    iv. Iadvertise Agent- 10% Commission;
    v. FoodCart Agent- 5% Commission;
    vi. EPINS retailing- 3-10% Rebates;
    vii. Bills Payment Center-3-10% Rebates.
    And the P2,188 Package includes:
    i. P1680 worth of products
    ii. P2,188 reservation payment for iFoodcart
    iii. 24/7 online account
    iv. Lifetime Business
    v. 22 ways of earning
    vi. Free trainings
    To be sure, an investment company obtains money from an investor and such investor does not need to do anything to gain profit. That is not how things are in iWATCHPH, an iWatcher needs to exert efforts to sell products and services in order for his business to grow.
    We will continue to forge ahead bearing in mind our mission and vision of providing better opportunities to Filipinos. Let’s move forward and continue enhancing our fellow filipino’s lives. We highly appreciate everyone’s trust and support.
    We would like to emphasize as indicated in our Terms and Conditions that iWatchPH is not an investment company, and does not solicit investment contracts:
    Stay safe and healthy everyone!

    Reply
  3. Thanks for creating this website. It really creates awareness to the people. Sana may darkmode din yung website para hindi masakit sa mata hehehehe

    Reply
    • Most MLM companies are simply trying to scam you. Its a pyramid scam. I understand why people get drawn to this type of businesses but sooner or later people will realize how “foolish” they are. Thus type of businesses are not even allowed abroad because its a Pyramid SCAM. Ewan ko ba bakit sa Pilipinas na sobrang hirap na nga ng mga tao lalo pang pinapahirapan ng kapwa Pilipino.

      Reply

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