According to the SEC advisory, you should stop investing in Wheretogo Travel Advertising Company. The full text of the advisory is quoted below:
“The Commission has received reports from the public regarding the activities of entities named WHERETOGO TRAVEL ADVERTISING COMPANY/WHERETOGO ADVERTISING, owned and operated by Mr. Yollie Mark Roquero Brown.
Based on the information gathered and verified by the Commission, WHERETOGO TRAVEL ADVERTISING COMPANY/WHERETOGO ADVERTISING are NOT registered with the Commission as a corporation or partnership.
WHERETOGO TRAVEL ADVERTISING COMPANY/WHERETOGO ADVERTISING have been enticing the public to invest by offering membership package or account worth Php2,899.00 with the following ways of earning money:
- Direct Referral Bonus –a member is entitled to unlimited 500 pesos for every direct referral;
- Dual Core Pairing Bonus –a member is entitled to unlimited 1,000 pesos pairing bonus for every pairing;
- Uni-level Bonus –the member will earn 20 pesos up to 10thlevel;
- Annual Subscription Hybrid Commission –the member’s net income in one year will earn repeatedly because the downlines or networks have annual subscription in different subscription dates.; and
- Click Reward Points –by just logging in to his account and clicking ads, a member can earn points for free travel and tour in different destinations worldwide.
The public is hereby advised that WHERETOGO TRAVEL ADVERTISING COMPANY/ WHERETOGO ADVERTISING are NOT registered with the Commission as a corporation or partnership. Moreover, it is not authorized to solicit investments from the public considering that it has not secured from the Commission the required prior registration and/or license to solicit investments as prescribed under Section 8.1 of the Securities Regulation Code (SRC).
Those who act as salesmen, brokers, dealers or agents of these unregistered investment entity in selling or convincing people to invest in these schemes being offered by them including solicitations or recruitment at random, through personal or online offering or social media networks, may likewise 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 imprisonment of Twenty One (21) years or both pursuant to Section 73 of the SRC.
Accordingly, 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 accordingly 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). Any person who, directly or indirectly, in connection with the purchase or sale of any securities, (1) employ any device, scheme, or artifice to defraud; (2) obtain money or property by means of any untrue statement of a material fact of any omission to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading; or (3) engage in any act, transaction, practice or course of business which operates or would operate as a fraud or deceit upon any person shall likewise be prosecuted and held criminally liable under Section 26 of the Securities Regulation Code and penalized accordingly pursuant to Section 73 of the SRC.
Lastly, the names of all those involved will be reported to the Bureau of Internal Revenue (BIR) so that the appropriate penalties and/or taxes shall be correspondingly assessed.
In view thereof, the public is hereby strongly advised NOT TO INVEST or STOP INVESTING in such schemes and to exercise prudence and precaution in dealing with such unregistered investment entity or individuals.
Should you have any information regarding the operation of the subject entities and other similar schemes, please coordinate with the Enforcement and Investor Protection Department at telephone numbers 818-6047or email us at [email protected].
For the guidance of the public.
Pasay City, October 08, 2019.”