Scam alert! SEC warns of scheme aimed at domestic helpers
MANILA, Philippines - Amid the millions of pesos lost in the Aman Futures investment scam, the corporate regulator issued a fresh warning about another get-rich-quick scheme aimed at domestic helpers nationwide.
In a December 21 advisory, the Securities and Exchange Commission (SEC) warned about the an unnamed group that has been offering investment opportunities promising hefty returns of P900 every month for an investment of only P100.
"A group of persons, company or firm operating in Cagayan Province, Ilocos Norte, and Camiguin Island, Cagayan de Oro City" has been dangling this to public, "particularly domestic helpers," the SEC warned.
"The public should NOT invest their money in such fraudulent or suspicious transactions because the promos of earning a very high income which is too-good-to-be-true is false or an investment scam," it stressed.
Thousands of small-scale investors have been conned into the P12-billion Aman Futures pyramid scam that the Department of Justice and various government offices are now investigating. - Rappler.com