2018
ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT
SEC ADVISORY
The Commission has received information that individuals or group of
persons representing Onecash Trading are enticing the public to invest in said
entity. Based on reports received from the public, Onecash Trading claims that it
is an online trading that promises return of investment with 200% interest in a span
of eight (8) weeks.
In its Facebook Account Onecash Trading is inviting the public to sign up
to their website through a sponsored link and deposit an amount of One Thousand
Pesos (Php1,000.00) as enrollment fee. Upon activation thereof, a member may
opt to become a Trader with a promise of receiving 25% return of investment
every Thursday for Eight (8) consecutive weeks without doing anything or to be a
Builder wherein a member shall be receiving Fifty Pesos (Php50.00) per direct and
indirect invites up to the 10th level.
The public is hereby warned that such investment schemes whether with the
use of money or virtual currencies such as bitcoin, etherium, ripple, dash, litecoin,
monero, SIBcoin, mooncoin and many others are considered as securities subject
to the regulatory authority of this Commission. The recruitment of investor
members under the guise of sponsoring a person into the system is likewise
considered a form of investment solicitation or a sale of securities. The offering or
sale of securities to the public without a permit or license from the Commission is
a violation of Section 8.1 of the Securities Regulation Code (SRC).
The public is hereby informed that Onecash Trading is not registered with
the Commission as corporation or partnership and is not authorized to solicit
investments from the public, not having secured prior registration and/or license to
solicit investments as prescribed under Section 8 of the Securities Regulation Code
(SRC).
Those who act as salesmen, brokers, dealers or agents of Onecash Trading
in selling or convincing people to invest in the investment scheme being offered
by Onecash Trading including solicitations or recruitment through the internet
may likewise be prosecuted and held criminally liable under Section 28 of the
Copyright 1994-2018 CD Technologies Asia, Inc. Securities and Exchange Commission 2019 First Release 1
Securities Regulation Code and penalized with maximum fine of Five Million
Pesos (P5,000,000.00) or imprisonment of Twenty One (21) years 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 investment contracts or securities to the public may be held
criminally 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 prudence before
investing in these kinds of activities and to take the necessary precaution in
dealing with Onecash Trading 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 number 818-6047.
For the guidance of the public.
Copyright 1994-2018 CD Technologies Asia, Inc. Securities and Exchange Commission 2019 First Release 2