SEC says Seafood Trade Asia is an Investment Scam

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Is Seafood Trade Asia legit or a scam? Read this article and find out.

The Securities and Exchange Commission has received multiple reports alleging that Kyle Belo Chan’s companies, SEAFOOD TRADEASIA, SHRIMP FARMING, SEAFOOD ASIA DIGITAL MARKETING SERVICES, ONG SHRIMP FARMING, AQUA IMPORT EXPORT AND PROPERTIES HOLDINGS INC., are involved in investment-taking operations.

Seafood Trade Asia Review Legit or Scam

The above companies are enticing the public to join their aquaculture farming business by offering guaranteed ROIs of 40% to 170 percent for 50-150 days.

To join Seafood Trade Asia one must register on their website (seafoodtrade.asia). Then, choose your preferred seafood to grow. Next, click “transfer” to the growing tanks. Finally, wait for them to grow until harvest.

Through a virtual monitoring system, investors can watch their selected seafood grow online. Investors can earn hassle-free, risk-free, and with little to no risk.

Seafood Trade Asia Packages

According to the SEC, if you will join Seafood Trade Asia, you will choose the following investment packages:

  1. Package A. Php1,000 for 10 pcs baby crab or 2,000 pcs fry or 40 pcs baby eel or 2 pcs baby lobster;
  2. Package B. Php10,000 for 100 pcs baby crab or 20,000 pcs fry or 400 pcs baby eel or 20 pcs baby lobster;
  3. Package C. Php100,000 for 1,000 pcs baby crab or 200,000 pcs fry or 4,000 pcs baby eel or 200 pcs baby lobster; and
  4. Package D. Php1,000,000 for 10,000 pcs baby crab or 2,000,000 pcs fry or 40,000 pcs baby eel or 2,000 pcs baby lobster.

Guaranteed Returns in Seafood Trade Asia

Seafood Trade will promise you the following guaranteed return on investments.

  1. Shrimp earn 60% in 75 days;
  2. Crab earn 40% in 50 days;
  3. Lobster earn 80% in 100 days; and
  4. Eel earn 170% in in 170 days.

Sample Computation for Shrimp Products

  • Package A: Php1,000 will earn 1,600php including your capital in 75 days;
  • Package B: Php10,000 will earn 16,000php including your capital in 75 days;
  • Package C: Php100,000 will earn 160,000php including your capital in 75 days; and
  • Package D: Php1,000,000 will earn 1,600,000php including your capital in 75 days.

Recruitment Commission

If you join Seafood Trade Asia and recruited others who invested in the said company, you are entitled to the following are the referral bonus/ commission:

  1. Package A up to 3rd level (direct referral 5%, indirect referral 1%);
  2. Package B up to 6th level (direct referral 5%, indirect referral 1%);
  3. Package C up to 9th level (direct referral 5%, indirect referral 1%); and
  4. Package D up to 12th level (direct referral 5%, indirect referral 1%).

Is Seafood Trade Asia Legit or Scam?

Seafood Trade Asia is an investment scam. It isn’t legit. The company has no permits and licenses to solicit investments from the public. Avoid this scam company.

The SEC informed the public that such investment schemes are securities subject to regulation by this Commission. Section 8.1 of the Securities Regulation Code prohibits the public offering and sale of securities without a permit or license.

The regulator said that SEAFOOD TRADE ASIA, SHRIMP FARMING, SEAFOOD ASIA DIGITAL MARKETING SERVICES, and ONG SHRIMP FARMING are not registered as corporations, partnerships, or sole proprietorships with the Commission, whereas AQUA IMPORT EXPORT AND PROPERTY HOLDINGS INC. is registered with the Commission under Company Registration No. CS20210737 dated February 9, 2020. As required by Section 8 of the Securities Regulation Code, none of them are authorized to seek public investment.

Penalty if You Promote Seafood Trade Asia Scam

Those who act as salesmen, brokers, dealers, or agents for SEAFOOD TRADEASIA, SHRIMP FARMING, SEAFOOD ASIA DIGITAL MARKETING SERVICES, ONG SHRIMP FARMING, AQUA IMPORT EXPORT AND PROPERTIES HOLDINGS INC. in selling and convincing people to invest in the investment scheme being offered by the said entity, including doing solicitations or recruitment over the internet, may be prosecuted and fined.

Source: https://www.sec.gov.ph/advisories-2021/seafood-trade-asia-shrimp-farming-seafood-asia-digital-marketing-services-ong-shrimp-farming-aqua-import-export-and-properties-holdings-inc/

Read: Axie Infinity Scam.

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