Sunday 25 August
SEC cracks down on abusive debt collectors Jul 21, 2019 @ 21:02

Ponzi scheme alert: SEC warns against Paycheck, Togachat, Tabale Cacao Farm

 

The Securities and Exchange Commission has warned the public against investing in Paycheck, Togachat Academy Philippines Inc. and Tabale Cacao Farm, which have been soliciting investments from the public without authority.

In separate public advisories, the SEC’s enforcement and investor protection department said the three corporations have been offering investment instruments that promise guaranteed rates of return.

The Paycheck group includes Paycheck AB Online Services Co., Paycheck AB Online Advertising Services, Paycheck.Net.Inc., Paycheck-AB.com, Paycheck Affiliate Marketing, Paycheck: E-commerce System and Affiliate Marketing. These companies have been seeking investments of a minimum of P1,000 in exchange for high monetary rewards if they recruited more people to join the scheme.

Toga, on the other hand, invites people to invest at least P5,000 while Tabale Cacao Farms promises a guaranteed 100% return of capital.

Tabale, which uses the social media to lure prospective investors, claimed that its owner was the former branch manager of Kapa Community Ministry International INc. in General Santos.

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