Sunday 16 December
Feb 21, 2018 @ 17:10

SEC warns vs Unitynet Corp.


The Securities and Exchange Commission has cautioned the public against dealing with Unitynet Corp., which has been soliciting investments from the public without proper registration.

In a notice to the public, SEC said Unitynet, headed by a certain Eduard Gary Salazar Reformina, is not authorized to offer any investment or securities to the public.

Under its scheme, Unitynet requires investors to chip in P2,990 each in exchange for access to its network marketing business, which allows members to earn P1,000 for every person recruited.

A member may recruit by posting on his/her social media account or website an inspirational video that has an enticing clickable banner which when clicked, shall redirect the prospective member to a referral link leading to the video presentation of Unitynet.

The referror?s unique code is indicated in the link and shall serve automatically as the new investor?s sponsor that is entitled to the commission/referral income.

Brokers and dealers convincing people to invest in Unitynet shall be prosecuted and held criminally liable under Sec. 28 of the Securities Regulation Code and penalized with a maximum fine of P5 million and/or penalty of 21 year imprisonment, the SEC said.

Please follow and like us:

Tags: , , , , ,

Related Stories
San Diego State University psychology professor Jean Twenge sees smartphones and social media as raising
Facebook said Wednesday it was reviving the cult MTV reality show "The Real World" as
Entertainment group 21st Century Fox announced Wednesday that it has invested $100 million in video
Walmart on Tuesday removed shirts and other gear from its online marketplace bearing the phrase


Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.