30 April 2013
Future Net-Networking Marketing Association of the Philippines, Inc.
For the information of the public, Future Net-Networking Marketing Association of the Philippines, Inc., is a non-stock non-profit organization with the following purposes:
To promote entrepreneurship;
To strengthen, sustain and expand network created through PEARL2 Executive Directors Series by establishing a support system that will:
1. Strengthen the orientatino and application of social entrepreneurship among its members
2. Strengthen linkages among Business Support Organizations
3. Establish strategic alliances with government and non-government institutiions
4. Promote common advocacies
It appears to be affiliated with FUTURE NET CREDIT COOPERATIVE. Both entities are reportedly engaged in networking, promising huge profits or sky-high returns including direct and indirect referral commissions, net loan commission, satellite referral commission, within a short period of time depending on the number of recruits or level of participation.
Under the scheme and in conjunction with its affiliation with the FUTURE NET-NETWORK MARKETING ASSOCIATION OF THE PHILIPPINES, the members of FUTURE NET CREDIT COOPERATIVE will become entitled to multiple privileges ranging from loan availment, social, educational, medical, dental, and insurance benefits. Their mode of operation features that of a classic pyramid scheme since participants attempt to make money solely from recruitment of new participants in the program otherwise selling cooperative membership.
FUTURE NET NETWORK MARKETING ASSOCIATION OF THE PHILIPPINES, being a non-stock and non-profit organization CANNOT and SHOULD NOT engage in investment taking business whether on its own or in conjunction with its affiliate or related entity.
For additional information, you may inquire from the Corporation Finance Department of the SEC with telephone numbers 584-61-03 or 584- 59- 50 or the Enforcement and Prosecution Department of the SEC at telephone number 584-71-87.