Manila, Philippines- The Securities and Exchange Commission (SEC) has issued an advisory against Angel Investor Group, Inc. The Commission has found out that individuals or group of individuals representing the company are enticing the public to invest in the said entity online or via the internet.
Based on the investigation by the regulatory agency, it was found out that Angel Investor Group, Inc solicits investment from the public. In return, an investor will receive 100% profit after a month plus 1,500 bonus share.
The SEC advised the public to take precaution before investing in the said firm.
The official SEC advisory is quoted below;
The Commission has received information that individuals or group of persons representing ANGEL INVESTOR GROUP, INC. are enticing the public to invest in the said entity online or through the internet.
Based on the information gathered by the Commission, ANGEL INVESTOR GROUP, INC. is engaged in soliciting investments where an investor can receive 100% profit after one (1) month plus 1,500 bonus share.
The public is hereby informed that ANGEL INVESTOR GROUP, INC. is registered with the Commission as a corporation in the year 2000 but is NOT authorized 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 SEC before they can be offered or sold to the public under Sections 8 and 12 of the Securities Regulation Code (SRC).
Consequently, those who act as salesmen, brokers, dealers or agents of ANGEL INVESTOR GROUP, INC. in selling or convincing people to invest in the investment scheme including solicitations or recruitment through the internet 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 penalty of Twenty One (21) years imprisonment 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 contracts or securities to the public may be held 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).
Furthermore, the names of all those involved will be reported to the Bureau of Internal Revenue (BIR) so that the appropriate penalties and/or taxes be correspondingly assessed.
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 with ANGEL INVESTOR GROUP, INC. or its representatives. Should you have any information regarding the operation of the subject entity, please call the Enforcement and Investor Protection Department at telephone numbers 818-6047.
For guidance of the public.