SEC warns against “online paluwagan”

THE Securities and Exchange Commission (SEC) warned the public against investing in the Repa/Repa Paluwagan, which has operations in Bohol, Davao, Bukidnon and Cebu.

That is because Repa/Repa Paluwagan is not registered with the SEC and has no license to solicit investments in the country, which is a clear violation of the Securities Regulation Code of the Philippines.

The report said the people behind this “online paluwagan” scheme talks to their would-be victims using the Messenger app and other chat groups, and engages in personal transactions wherein they offer “limited slots” for their investment package.

A potential investor can invest P50,000 with a promised earnings of P20,000 or 40-percent return on investment in only two weeks.

The SEC reminds the public to be vigilant and more importantly critical before investing in unauthorized investment schemes that are becoming widespread today. 

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