MANILA, Philippines — Corporate regulator Securities and Exchange Commission (SEC) continues to update its list of entities that are potentially involved in investment scams, warning the public against putting money into these companies.
The SEC issued an advisory yesterday against two more of such entities, Bny Pal or Benta Paluwagan and One 1Key Progress.
The SEC said Bny Pal offers different “paluwagan” slots and income for different time-maturity periods without computation or matrix for returns given per amount inv ested.
“It entices the public to invest by promising a minimum of 30 percent profit in just 10 days,” the SEC said in its latest advisory.
The second entity, One 1Key Progress Booster Inc., meanwhile, entices the public to invest in its so-called Power Apps Marketing Business by registering for a fee of P1,000.
“Once registered, a member then needs to invest P5,000 to be entitled to a 50 percent return on income in just 15 days. An investor-member may also invest P100,000 to avail of a 300 percent to 400 percent profit in just five to 10 days,” the SEC said.
“Some of these group s’ investment schemes or actions resemble a pyramid or Ponzi scheme, where investors earn through recruitment fees instead of the sale of actual products or services, and investors are paid using the contribution of new members,” the SEC said. The SEC has been regularly warning the public against potential scammers.
It earlier scored a victory against Kapa Community Ministry International Inc. – touted as the country’s biggest investment scammer so far – with the arrest and prosecution of some of its leaders .
An SEC case buildup led to con viction of its leaders for syndicated estafa, a crime punishable by life imprisonment.
A similar ruling was handed out by the Supreme Court in the case against so-called pyramid scam queen Rosario Baladjay, who was also convicted of syndicated estafa after victims filed cases against her for her Multitel scam.
The SEC has secured the conviction of at least 33 individuals involved in 22 cases of scams.
According to SEC records as of September 2023, 355 indi viduals are being actively prosecuted in various courts covering 145 cases for violation of the Securities Regulation Code and other laws.
MANILA, Philippines — At least 585 injuries related to the New Year revelry have been recorded by the Department of Health (DOH) as of yesterday.
“There are 585 injuries overall – with 581 due to fireworks, one due to watusi ingestion, and three stray bullet injuries (SBI),” the latest Fireworks-Related Injuries (FWRI) of the DOH said.
More than half of the cases are from the National Capital Region or NCR (311 or 54 percent) followed by the Ilocos region (58 cases or 10 percent), Calabarzon (47 or eight percent) and Central Luzon (42 or seven percent).
Ninety-six percent of injuries happened at home and in the streets, mostly to males with active involvement.
The top ranking identified fireworks that cause a majority (64 percent) of FWRIs, in descending order, are kwitis, 5-star, whistle bomb, pla-pla, boga, luces and fountain.
Illegal fireworks (5-star, pla-pla, boga) are to blame for just four out of every ten cases (220 or 38 percent), with legal fireworks causing more injuries.
Included in DOH’s latest count of FWRI are the 28 new cases recorded from 6 a.m. of Jan. 3 to 5:59 a.m. of Jan. 4.
The DOH said there are two more confirmed SBIs in addition to the one case recorded last Tuesday.
One SBI case is a 28-year-old male from NCR who suffered a fracture in his second toe of the left foot. The other is a 60-year-old male from Cordillera Administrative Region who suffered a fracture in his left collar bone.
The DOH said close coordination is ongoing between DOH and the Philippine National Police for all reports of SBIs.
The 28 new cases were mostly injuries due to fireworks (26) except for the two new SBIs. The new cases range from 6 to 62 years old with nearly nine out of ten (23 or 88 percent) cases being males.
Almost all (25 or 96 percent) of these new cases occurred at home and in the streets. The majority (13 or 52 percent) of cases were due to legal fireworks. There were nine persons hospitalized due to their injuries.
“Let us be reminded that injuries and deaths from stray bullets and ‘accidents’ due to intoxication are avoidable. Guns, fireworks, and liquor should not mix,” said the DOH.
“Law enforcement, local leaders, and communities must work together to create a safer and healthier community, especially during these times of celebration,” it added.