If you are wondering if PetroMobil Corporation is legit or a scam, then you are in the right place.
Recently, the SEC issued an advisory to the public against investing in this company. The Commission has learned that individuals or groups representing this company are enticing the public to invest in the said entity.
According to public reports, PetroMobil Corporation is enticing the public to invest in the said entity by offering would-be investors a Co-Ownership Program.
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PetroMobil Corporation Co-Ownership Program
The minimum capital of the Co-Ownership program is Php400,000.00 for a conservative profit of Php100,000.00 within 3 months and the opportunity to co-own 17 gas stations that the company plans to open.
The 17 gas stations will be managed by PetroMobil Corporation and investors will receive 60% of the net income on a quarterly basis. Similarly, the company promised to give prospective investors stock shares via a Deed of Assignment.
PetroMobil Corporation Importation Co-Ownership Program
PetroMobil Corporation also offers prospective investors an Oil Import Co-Ownership Program with a minimum capital requirement of Php500,000.00.
The company invites the public to invest and co-own its gas stations for as low as 500,000.00. and co-franchise 5 stations with a capital of Php500,000.00 as shown in the following Facebook page posts.
The company also invites the public to become a co-owner of a vessel for only Php400.000.00, a screenshot of the said FB post is shown below:
PetroMobil that co-owners will receive shares of stock via a Deed of Assignment in its Memorandum of Agreement. As stated in the same document, a co-owner/partner must contribute Php500,000.00 and will be paid 60% of the net monthly revenue.
Screenshots of the said stipulation were obtained by the SEC.
Is PetroMobil Corporation Legit or Scam?
PetroMobil Corporation is an investment scam. The SEC says the company solicits investments from the public illegally because it has not obtained the required permit or license from the commission.
The government agency warned the public that PetroMobil Corporation is not authorized to solicit investments from the general public because this entity did not obtain prior registration and/or a license to solicit investments from the Commission as required by Section 8 of the Securities Regulation Code (SRC).
Punishment if You Promote this Investment Scam
Those who act as salesmen, brokers, dealers, or agents for PetroMobil Corporation in selling or convincing people to invest in the investment scheme offered by the said entity, including soliciting investments or recruiting investors via the internet, may be held criminally liable under Section 28 of the SRC and subject to a maximum fine of Five Million Pesos (Ph) (SEC vs. Oudine Santos, G.R. No. 195542, 19 March 2014).
Stop Investing in PetroMobil Corporation
Stop investing in PetroMobil Corporation because it is an investment scam. The company was not authorized by the SEC to solicits investments from the public.
If you have any information about the subject entity, please contact the Enforcement and Investor Protection Department at 8818-6047.
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