SEC-Davao Alert: Investor Caution Advised on KAMAYO SEAFOODS BUFFET / KAMAYO SEAFOODS FRANCHISING AND CO-OWNERSHIP PROGRAM / KAMAYO FOOD PARK CO-OWNERSHIP PROGRAM Operating within Davao Region
Good day!
The Enforcement and Investor Protection Department (EIPD) of the Securities and Exchange Commission (SEC) has issued an advisory against KAMAYO SEAFOODS BUFFET / KAMAYO SEAFOODS FRANCHISING AND CO-OWNERSHIP PROGRAM / KAMAYO FOOD PARK CO-OWNERSHIP PROGRAM, which have operations within SEC-Davao’s Area of Responsibility (Davao Region, SOCCSKSARGEN, Cotabato City and Maguindanao Province).
KAMAYO SEAFOODS BUFFET / KAMAYO SEAFOODS FRANCHISING AND CO-OWNERSHIP PROGRAM / KAMAYO FOOD PARK CO-OWNERSHIP PROGRAM
entices the public by offering an investment in the guise of a FRANCHISING AND CO-OWNERSHIP PROGRAM that will earn 5% to 15% monthly income.
As the above described scheme involves the sale of securities to the public,
the Securities Regulation Code (SRC) requires that these securities are duly
registered and that the concerned entities and/or its agents have appropriate
registration and/or license to sell such securities to the public pursuant to Section 8 and 28 of the SRC.
Consequently, those who act as salesmen, brokers, dealers, agents, representatives, promoters, operators, recruiters, uplines, influencers, endorsers, abettors and enablers of KAMAYO SEAFOODS BUFFET / KAMAYO SEAFOODS FRANCHISING AND CO-OWNERSHIP PROGRAM / KAMAYO FOOD PARK COOWNERSHIP PROGRAM in selling or convincing people to invest in their investment schemes including solicitations or recruitment through the internet may likewise be prosecuted and held criminally liable under Section 11 of the Financial Products and Services Consumer Protection Act and Section 28 of the SRC and for the two offenses, both are penalized separately with a maximum fine of Five Million Pesos (Php5,000,000.00) or maximum penalty of Twenty-One (21) years imprisonment or both pursuant to Section 73 of the SRC.
The SEC is also advising the public against dealing with the following entities due to their unauthorized solicitation of investments without the necessary license from the Commission:
1. ZTOCK operated and offered by WETRADE TECHNOLOGIES PTE LTD
2. HEDGE BIT TRADING INC.
3. NEW GEN-Z HOLDINGS MARKETING GROUP
4. BETTER EXPERIENCE
5. DT TRADING DATA/DATA TECHNOLOGY TRADING
6. AJC 888 INC
7. 7-ELEVEN ELECTRONIC COMMERCE LIMITED/7-ELEVEN ELECTRONIC COMMERCE LIMITED – PASSI BRANCH
8. 888 PARTNERS CORP BUDGETARIAN ONLINE SHOP
9. HAILEY & HOLLEY SPA and/or MS. IONIE MAE CRUZ GUZMAN
10. INTEGRATED DIGITAL SUCCESS
11. UPSOLUTION ONLINE SHOP INTERNATIONAL
12. GRIND O’CLOCK CORPORATION
13. BONNIE MALL
14. DOUBLE R AGGREGATES / DOUBLE R TRUCKING AND AGGREGATES OPC
15. INNOV8WEALTH GLOBAL
16. AYALA CORPORATION GROUP, INC. / AYALA CORPORATION BUDGETARIAN ONLINE SHOP / GLOBAL ONLINE AYALA CORPORATION / BELLAVITA AYALA CORPORATION / AYALA CORPORATION E COMMERCE
17. 99DRAGONS PH
18. HOPERICES INVESTMENT
19. MORGAN STANLEY INVESTMENT FIRM ELINYAPP/ELINY-PH.COM/ELINY_APP
20. MULTI-ASSET SOLUTION (MAS) and/or MULTI ASSET FINANCIAL CONSULTANCY SERVICES and/or JBF & GAINZ PHILIPPINES FOUNDER
21. HOPE ADVERTISEMENT MARKETING/HOPE FINANCIAL MARKETING OPC
22. MENGAY BENTA SLOT / NYU MENG’S PALUWAGAN
23. WISTERIA LANE
24. EATCITED PASALUBONG CENTER
25. ARIAMALL / AMELIA MALL ONLINE / AMELIA-MALL PHILIPPINES INC
26. CENTUROS FINANCE GROUP II
27. MOO FARM
28. AYN E-COMMERCE
29. ALAO/ALAO INVESTMENT PLATFORM
30. CCO MEDIA/CCO MEDIA PHILIPPINES/CLEAR CHANNEL OUTDOOR ASIA CORP.
These groups have been found to be engaging in unauthorized investment-taking activities by either a) borrowing capital from investors, using said capital to allegedly buy products, then selling said products to consumers, and finally giving back the profits to the investors; b) promising investors fixed earnings or posing as legitimate investment websites and mobile applications; c) sending emails, fax, or letters to the victims and requiring them to pay an "advance fee" before receiving a significant share of a large sum of money; or d) posing as legitimate and reputable financial institutions.
Such actions resemble a pyramid/Ponzi scheme, where investors earn through recruitment fees instead of the sale of actual products/services, and investors are paid using the contribution of new members, according to the SEC.
For the complete list of advisories, you may visit
https://www.sec.gov.ph/investors-education-and-information/advisories/We are reminding the public to exercise caution when dealing with individuals or groups soliciting investments for and on their behalf.
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