Investment scams, bogus companies, shady enterprise etc.

[omad]

---

I guess some of you have come across this issue but for those who haven't, please read on:
__________________________________________________ _____________________________________
Friday, August 25, 2006
SEC warns Cebuanos against investment scams, bogus cos.

The Securities and Exchange Commission (SEC) Cebu is advising investors to be wary of investment scams.

SEC Cebu Extension Office Director Merly Cunanan said she has not received any complaints about “boiler room” operations in the province, although the commission’s central office posted online a warning against such investment scams.

“Boiler room” scam refers to the activity of certain individuals who try to peddle worthless shares of non-existent companies to unsuspecting investors.

“They pose as agents of companies abroad who try to solicit money with a promise of a high rate of return at the soonest possible time,” Cunanan said.

She is urging everyone to call the SEC office “when in doubt” so the commission can investigate on the matter “discreetly.”

Offer

According to Cunanan, if one comes across an investment offer by phone, e-mail, flyers, newspaper ads or in person, he or she should verify whatever information given “to protect yourself and your money.”

She said would-be investors should ask questions, such as name and address of the person, the company making the offer, landline phone number not that of a mobile phone which cannot be traced, and SEC registration.

She said a SEC company registration does not grant authority to sell investments, such as securities, bonds, commercial papers or similar financial instruments.

“A secondary license is needed to sell securities, solicit investments or accept deposits,” she said.

full story
__________________________________________________ _____________________________________

comments and suggestions are welcome..

[Ms.Beau]

Reminds me of the movie Boiler Room....

[voltes5]

Beware...http://www.sec.gov.ph/advisory/Nomad...rts%20Club.pdf

[thinkerbelle]

salamat sa initiative...this is a good post to read and worth to be taken seriously....

up tani para mabasa sa tanang nangita ug investment opportunity diri..

sa mga bogus salesmen dri, undang na mo anang pan-raket ui...lets be fair to all...work hard ur income and earn it in an honest way..

[lady_yan]

thanks ani na post..
way back year 2005, nailad jud akong tita ug 200k aning investment scam. at first 20k ra iyang gi.invest then nibalik raman pud plus interest,, it went well for months. cge pud kadako iyang gi.invest until ni abot ang time, wala nay naabot na checks then mao nato.. gidagan na iyang 200k. paet..
i hope walay mga ppl like that diri. lisud baya ning maghago ta in business or work to earn then ilaron lang ta.
God bless ppl...

[Witch_Princess]

yes, i agree... this is indeed a very good and informative post. thank u..

well, usa lang jud akong masulti nga lig on jud na timailhan kung its a legitimate or illegal or scam imong gi-sudlan or giplanohan pa lang nga investment.

usahay man gud, dli man sad sa pagdaot sa atong isig kaingon, pero ang makadala ra jud ug ilad sa tawo mao ra pud ang pagkahakog sa tawo or greed.

unfortunately, dali ra jud kaau ta madani basta naay moingon nato or mo-offer nato ug dagko nga returns or interest in a much shorter time and kanang dali ra kuno ta maulian sa atong kwarta nga gi-invest plus the interest.

sa tinuod-anay lang, if its a legal investment, specially if moingon nga gina-invest ang money ug funds or stocks, etc... dugay jud na ang returns ana tungod kay its intended for long term investments. please don't believe them easily when they will tell you that within 1 or 3 months mobalik na imong investment plus interest, or mo-double na imong investment... dli intawn ta magpa-ilad ana. if we use the "rule of 72", 72 divided by 3months equals 24% per month nag-live on interest imong money, which is kadudahan kaayo.

better consult other people whom u know may have more knowledge than u do, before investing any penny you have kay hinaguan ntawn kaau na nimo... that's all folks... thanks. =)