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SCAM IN MARINDUQUE – SEC ADVISORY

securities exchange commission scam marinduque negosyo business franchise Philippines

Securities and Exchange Commission – Scam in Marinduque


SEC ADVISORY
Mandaluyong City
21 May 2013
SCAM IN MARINDUQUE
The public is ALERTED on reports that a local permit was granted to a
group of persons representing themselves to be a corporation, which offers loans to
barangay officials and employees to be paid through salary deduction. Said group
or corporation is selling pre-need/memorial plans and insurance plans without the
necessary license from the Insurance Commission and inducing people to invest
with a promise of high return on their investment.
The reports indicate that its principal office is located at High Town, Boac
Marinduque and has five (5) branches operating in various municipalities of
Marinduque. Its funeral homes are under construction along the national road in
Barangay Santol, Boac, Marinduque.
The people are WARNED that persons or a corporation CANNOT offer any
securities or plans to the public WITHOUT the required permits from the
concerned government agencies such as the Securities and Exchange Commission
for investment securities, and Insurance Commission for pre-need/memorial and
insurance plans.
For additional information, you may inquire from the Corporation and
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.

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