If you are wondering whether MGH Trading or Money Game Hub is legit or a scam, then you are in the right place.
Recently, the Securities and Exchange of the Philippines issued an advisory against investing in the said entity. The Commission has received information that MGH Trading is engaging in unauthorized investment-taking activities.
Money Game Hub or MGH TRADING OPC is said to be a perfume distribution marketing company headed by Alexander Libres Salvador.
The company entices the public to join and invest a minimum of Five Hundred Pesos (Php500.00) and promises seven times the return on investment for a period of 40 days. Thus, a Php500.00 initial investment will yield a Php3,500.00 return after 40 days.
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MGH Trading Investment Packages
If you invest in MGH Trading you have the option to choose any of the following investment packages to participate in the money-making scheme:
- Chalk – Php500
- Dime – Php1,000
- Sharp- Php5,000
- Shark – Php20,000
- Whale -Php50,000
Ways to Earn
The company employs MLM strategies to compensate its investors. If you examine closely, you can make more money recruiting people to the scheme.
If you can recruit others to invest in the company, you’ll get the following referral bonuses based on the package purchased:
- Chalk – 20%
- Dime – 25%
- Sharp- 30%
- Shark – 35%
- Whale -50%
Indirect Referral Bonus
Get an indirect referral bonus of 1% to every up-line member, chained all the way up to infinity (CEO of the company).
Earn an encashment bonus of 1% of cash taken from every cash withdrawal and given to the next up-line member.
Money Spin (casino feature/game of chance)
For joining members: P5000=1 ticket, P20000=3 tickets, P50000=5 tickets. Also cash payments: P500=5 ticket spins, P1000=10 ticket spins, P5000=50 ticket spins, and P10000=100 ticket spins.
Is MGH Trading or Money Game Hub Legit or Scam
MGH Trading or Money Game Hub is a scam. It solicits investment from the public illegally. It is also a pyramid scheme.
The SEC says, the company sells investment products. In order to sell securities to the public, the concerned corporation and/or its agents must be registered and/or licensed under the Securities Regulation Code (SRC) Sections 8 and 28.
The investment regulators notified the public that MONEY GAME HUB is not a registered corporation or partnership. MGH TRADING OPC, on the other hand, is a One Person Corporation registered with the Commission.
Nonetheless, neither MONEY GAME HUB nor MGH TRADING OPC is authorized to solicit investments from the general public because they did not obtain prior registration and/or a license to solicit investments from the Securities and Exchange Commission as required by Section 8 of the Securities and Exchange Commission.
The public is reminded that a Certificate of Incorporation only grants the entity legal personality and does not authorize or license it to engage in activities such as investment solicitation, investment contract issuance, or investment contract offering and sale.
Penalty if you Promote MGH Trading Scam
If you promote the MGH Trading scam be prosecuted and fined up to Five Million Pesos (Php5,000,000.00) or under Section 28 of the SRC.
Furthermore, the SEC added:
Also, those who invite or recruit others to join or invest in such venture or offer investment contracts or securities to the public may incur criminal liability, or otherwise be sanctioned or penalized accordingly as held by the Supreme Court in the case of Securities and Exchange Commission vs. Oudine Santos(G.R. No. 195542, 19 March 2014).
Stop Investing in MGH Trading or Money Game Hub
The SEC advised the public to discontinue investing in the investment schemes that have been offered by MGH Trading OPC and Money Game Hub.
Read: Axie Infinity Scam.