SCET Colleens Corporation is headed by Shara Jane Casao Chavez, Kay Anne Cuizon Leyson, Edith Francisse Villegas Tablante, Earn Sta. Rita Saguindel and Artemio Torona Ponce, Jr.. It is a Multi-Level Marketing Company.
According to the Securities and Exchange Commission of the Philippines, SCET Colleens Corporation is soliciting investments from the public without the necessary license and permit.
Contrary to its claim, the company is not authorized to solicit, accept or take public investments/placements or to issue investment contracts or other securities as defined by the Securities Regulation Code (SRC).
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SCET Colleens Corporation Investment Packages
SCET Colleens Corporation is currently offering investment packages and promotions ranging from Php3,800.00 to Php1,080,000.00, with guaranteed monthly passive returns of 5-8 percent and other bonuses.
These packages include Sub-Reseller Distributor, Reseller Distributor, City Disbutor, Provincial Distributor, Regional Distributor, Starter, Jumpstart, Deluxe, Pro, Elite, and Diamond compensation plans or packages.
Ways to Earn
SCET Colleens Corporation offers 4 ways to make money.
- Direct Selling. Members are entitled to 10-40% discount on all products.
- Referral Bonus. Recruit people and get commissions from the investments.
- Partner Share. Guaranteed monthly company share based on your level amount.
- Return of Investment. Guaranteed capital return on your partner level after 1 months.
The following are the benefits when you availed of their investment packages:
Starter @ Php3,800
- 1 Luminesce Skin Set
- Php190 monthly compensation share
- Php2,584 capital return on the 12th month
- 10% discount on SCosmetics products
- Referral bonus
Deluxe @ Php48,000
- 6 Luminesce Skin Set
- Php2,400 monthly compensation share
- Php32,640 capital return on the 12th month
- 15% discount on SCosmetics products
- Referral bonus
Pro @ Php198,000
- 14 Lumineesce Skin Sets
- Php11,880 monthly compensation share
- Php134,640 capital return on the 12th month
- 30% discount on SCosmetics products
- Referral Bonus
Elite @ Php389,000
- Php23,340 monthly compensation share
- Php264,520 capital return on the 12th month
- 100,000 SCosmetics products credit line payable in 3 months
- Choice of Area for Elite Charter Office (ECO)
- Earnings from all new member that will be registered under the ECO
- Elite Partner’s details will be posted on SCosmetics website as additional promo service
- 40% products discount
- Referral bonus
- 25 sets of Luminesce Skin sets
Is SCET Colleens Corporation Legit or Scam
SCET Colleens Corporation is a scam. It is a Ponzi scheme and an investment scam. It is illegally soliciting investments from the public according to the SEC advisory.
Since the scheme used by the company involves the public offering and selling securities in the form of investment contracts, whereby investors are deemed to be investing in its enterprise and expecting profits without doing anything, the SRC requires that such securities be duly registered with the SEC.
In spite of this, SCET Colleens Corporation failed to obtain a Secondary Licence. It should be emphasized that its primary registration with the Commission does not grant it the right to solicit public investment.
A Certificate of Incorporation grants an entity legal personality but does not authorize or license it to engage in activities requiring a secondary SEC license.
SCET Colleens Corporation is offering ridiculous rates of return with little or no risk, indicating a possible Ponzi Scheme where returns to early investors are paid out of new investor funds and not from the company’s profits, similar to those already flagged by the Commission as a possible Ponzi Scheme.
Due to a lack of new investors, companies that engage in Ponzi scams tend to close or cease operations because funds are no longer sufficient to pay the promised profits of earlier investors.
Advisory to the Public Against Investing in SCET Colleens Corporation
The SEC reminds the public that the offering and sale of such securities, like what SCET Colleens Corporation did, in the form of investment contracts is fraudulent, unsustainable, and not registrable.
The Commission will not issue a License to Sell Securities to the Public to persons or entities engaged in a Ponzi scheme.
The government agency emphasized that during this pandemic, the public should always exercise extreme caution when making or placing money with entities that offer “too good to be true” investment packages like SCET Colleens Corporation.
Penalty if You Promote an Investment or Ponzi Scheme
Those who act as salesmen, brokers, dealers, or agents of unauthorized entities in selling or convincing people to invest in their investment scheme offered, including solicitation and recruitment through the internet, may also be prosecuted and fined up to P5,000,000.00 or sentenced to 21 years in prison.
People who invite or recruit others to join or invest in such ventures, or who offer investment contracts or securities to the public may also be criminally liable, or otherwise sanctioned or penalized (G.R. No. 195542, 19 March 2014).
Read Axie Infinity Scam.