Scam Warning: PigDeals International Holdings, Inc. SEC Advisory

scam warning

The SEC warned the public from investing in PIGDEALS INTERNATIONAL HOLDINGS, INC. The full text of the advisory is shown below.

The Commission has received information that individuals or group of persons representing PIGDEALS INTERNATIONAL HOLDINGS, INC. under CEO   Dwayne  Ramos  Walberg and President Rocky Gonzales Manalo and PIGDEALS AGRIVENTURES HOG FARM TRADING under Rocky Manalo Gonzales (Proprietor)are enticing the public to invest in the said entity online or through the internet.

Based on the information communicated  and   gathered  by   the   Commission, PIGDEALS INTERNATIONAL HOLDINGS, INC. and PIGDEALS AGRIVENTURES HOG FARM TRADING are engaged in an investment scheme by offering and selling their packages where for every Php2,500.00 invested, one piglet is raised and sold after 3  months and the investor gets his money back with the net profit of Php4,500or 80% profit. The scheme presented as follows:

Pig Deals Hog Farm Trading

The public is hereby informed that any offering to the public which involves investment of money in a common enterprise with the expectation of profits primarily from the efforts of others, constitutes an investment contract which is a form of securities that needs to be registered with the Commission. Thus, the public is hereby WARNED that selling or offering for sale of such investments are considered as selling or offering for sale of securities subject to the regulatory authority of this Commission.

Per records of the Commission, PIGDEALS INTERNATIONAL HOLDINGS, INC was registered as a corporation on 26 July 2019 under SEC Registration Number CS201954184, while PIGDEALS AGRIVENTURES HOG FARM TRADING was registered with the Department of Trade and Industry on 5 July 2019 under Business Name No. 1062684.

However, the issuance of a Certificate of Incorporation only grants an entity juridical personality but does not constitute an authority or license for the corporation to engage in activities that require a secondary license from the SEC. Note that the registration of PIGDEALS INTERNATIONAL HOLDINGS, INC. with the SEC and PIGDEALS AGRIVENTURES HOG FARM TRADING with the DTI do NOT authorize the said entities to offer, solicit, sell or distribute any investment/securities. Such activities require a Secondary License from the Commission and the securities or investment product should likewise be registered with the SEC before they can be offered or sold to the public under Sections 8 and 12 of the Securities Regulation Code (SRC).

As such, those who act as salesmen, brokers, dealers or agents of these companies in selling or convincing people to invest in the investment scheme being offered by these entities including solicitations and recruitment through the internet may be prosecuted and held criminally liable under Section 28 of the Securities Regulation Code and penalized with a maximum fine of Five Million pesos (P5,000,000.00) or penalty of twenty-one (21) years of imprisonment or both pursuant to Section 73 of the SRC.

Hence, those who invite or recruit other people to join or invest in this venture or offer investment contracts or securities to the public may be held criminally liable or consequently sanctioned or penalized in accordance with the Supreme Court decision in the case of SEC vs. Oudine Santos(G.R. No. 195542, March 19, 2014).

In view thereof, the public is hereby advised to exercise caution before investing in these kinds of activities and to take the necessary precaution in dealing PIGDEALS INTERNATIONAL HOLDINGS, INC. and PIGDEALS AGRIVENTURES HOG FARM TRADING or its representatives.

Should you have any information regarding the operation of the subject entities, please call the Enforcement and Investor Protection Department at telephone numbers (02) 8818-6337.

For the guidance of the public.

Reference. http://www.sec.gov.ph/wp-content/uploads/2019/10/2019Advisory_PigDealsInternationalHoldingsInc.pdf