Philippine SEC Warns Against TradeTech Asia, Automatrade, BFO Trading

The Philippine Securities and Exchange Commission (SEC) has issued warnings against numerous unregistered entities that are luring the public with the promise of substantial financial rewards. TradeTech Asia, Automatrade Robots Trading, BFO Trading, and other entities are suspected of operating without appropriate authorization and utilizing Ponzi schemes.

TradeTech Asia

The SEC has received reports that TradeTech Asia has been soliciting public investment in the range of Php 300 to Php 50,000, with the assurance of earning 300% returns within 24 hours. Additionally, investors are assured of supplementary earnings through an affiliate program that provides commissions at various levels. The Securities and Exchange Commission (SEC) underscores that TradeTech Asia is not registered with the commission, rendering it illegal to offer, solicit, or sell any investment products. The investment scheme is classified as a Ponzi scheme, which is both deceitful and unsustainable.

Automatrade Trading Robots

Automatrade Robots Trading has also been the subject of scrutiny for its ability to entice the public to invest between Php 200 and Php 50,000, with the promise of returns of 50% to 100% within 12 to 18 days. Automatrade Robots Trading is not registered as a corporation or partnership, and it does not possess the requisite license to solicit investments, according to the SEC's database. Automatrade Robots Trading, like TradeTech Asia, operates on a Ponzi scheme model, which presents substantial risks to investors.

BFO Trading

Another entity that has been flagged by the SEC for unauthorized investment solicitation is BFO Trading. The organization asserts that it provides substantial daily profits by employing a platform that analyzes currency fluctuations. Guaranteed profits are purportedly accrued over a 90-day period, with investments ranging from Php 500 to Php 20,000. BFO Trading is not registered with the Securities and Exchange Commission (SEC) and its scheme is classified as a Ponzi scheme, which benefits top recruiters and early risk-takers at the expense of new investors.

Jump Mining

The public is also being lured by the promise of high daily income from mining devices by entities under the Jump Mining banner, such as Jump Mining Trade Platform and JumpMining International Group. Depending on the maturity period, they provide a variety of investment products with daily returns that range from 4.13% to 10%. Nevertheless, these entities are suspected of operating a Ponzi scheme and are not registered with the SEC. The SEC cautions the public that these schemes are not registrable securities and advises them to exercise caution.

New World AI

New World AI is offering a variety of investment packages that promise returns as high as 1,185% interest income in order to attract investors. The investment options are subject to varying lock-in periods and range from Php 300 to Php 1,200,000. The SEC emphasizes that New World AI has not been registered as a corporation and has not obtained the necessary license to solicit investments. Ponzi schemes and other fraudulent investment schemes are prohibited by the Financial Products and Services Consumer Protection Act (FCPA), against which the entity's activities are in violation.

SEC's Advisory

The Securities and Exchange Commission (“SEC”) strongly encourages the public to exercise caution when considering investment opportunities that advertise high returns with minimal risks. Investors are advised to verify the legitimacy of the entities, review the terms and conditions of any investment offer, and conduct due diligence. Salespersons, brokers, agents, and promoters of these unregistered entities may be subject to severe penalties, such as imprisonment and fines.

The SEC encourages the public to reach out to their Enforcement and Investor Protection Department (EIPD) via email or telephone for any inquiries regarding the operations of these entities. Makati City is the location of the EIPD office, which is situated at the SEC headquarters.

In summary, the SEC's warnings are intended to safeguard the public from being defrauded by fraudulent investment schemes. It is imperative that potential investors remain vigilant and verify that any investment opportunity has been registered and authorized by the Securities and Exchange Commission (SEC).

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