Davao City—The Securities and Exchange Commission (SEC) warned consumers in the Davao Region against an investment scheme that promises members and business partners a 30-percent monthly interest for 1 year.

The SEC said in an advisory that Mer’s Business Center offers its investment scheme to the public through Facebook Live by Roger Camingawan as well as in his YouTube channel.

“Records of the Commission show that Mer’s Business Center is not registered as a corporation or partnership. However, Mer’s Business Center has been issued a Certificate of Business Name Registration on 21 December 2020 by the Department of Trade and Industry under the name of its owner, Reynaldo Abing Camingawan,” the advisory read.

“Nonetheless, Mer’s Business Center is not authorized to solicit investments from the public as it did not secure prior registration and/or license to solicit investments from the Commission as prescribed under…

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