Emgoldex is a fake company – SEC

The Securities and Exchange Commission (SEC) has warned the public to be cautious against a fake company called Emgoldex Philippines, which is now out active in victimizing people with its tricky investment scheme.

The country’s corporate regulatory watchdog issued this warning after receiving reports that users of social networking site Facebook are being invited or enticed to invest in Emgoldex Philippines.

Emgold Philippines particularly established an investment scheme called “Pinoy Style Patak Patak” for a promise of huge profit or high returns where an investment of P1,000 will earn profits ranging from P5,000 to P10,000 or a placement of P35,000 to P36,000.

“Per verification, Emgoldex Philippines is not a registered corporation or partnership,” SEC said in an advisory over the weekend.

“Likewise, such entity is not authorized to solicit investments from the public as it did not secure prior registration and/or license or permit to solicit investments from the Commission as required under Section 8.1 of the Securities Regulation Code,” it added.

The public is now being advised to exercise self-restraint from investing their money into such high yield-high risk investment scheme and to take the necessary precautions in dealing with the above-named entity.

“Should you have any information regarding the operation of the said entity, please call the Enforcement and Investor Protection Department at telephone numbers 584-7187 or 584-7652,” the commission noted.