THE SECURITIES and Exchange Commission’s (SEC) Davao office on Tuesday issued a warning against putting money in JC Pro Global Trading’s “compensation plan,” which is considered an illegal investment scheme.

“This investment-taking scheme cannot be sustained and inevitably will result in the collapse of the business,” SEC-Davao said in a statement, noting that the company’s operations is a “Ponzi scheme.”

SEC-Davao said JC Pro Global Trading does not have a license to solicit investments and warned that the company as well as its agents face penalties of up to P5 million or 21 years in prison based on the Securities Regulation Code and the Revised Corporation Code, among other regulations.

JC Pro Global Trading, according to SEC-Davao’s probe, uses Facebook to attract investors into a “system… designed to take care of everything which include, trading, buying and selling of cryptocurrency which provides…

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