BAGUIO CITY – The Securities and Exchange Commission (SEC) issued an Investor Alert against Farm
To Market and its branches established largely in northern Luzon.
The Commission on April 16 issued an Advisory after receiving several inquiries, reports and information that individuals representing an entity named FARM TO MARKET TARLAC CITY – MAIN BRANCH / FARM TO MARKET / FARM TO MARKET PAALAGA SYSTEM / HOG RAISING BUSINESS is enticing the public to invest their money in the said entity with a promise of high monetary rewards or profits.
Based on the reports, and as posted in its Facebook Page, FARM TO MARKET TARLAC CITY – MAIN BRANCH is inviting the public to invest under its “F2M 3 Months Paalaga System” by buying one (1) piglet for the price of Php 5,000.00 for a promise of getting the investment back amounting to Php 7,600.00 in just three (3) months or equivalent to 30% Return of Investment (ROI).
As per its corporate records, Farm To Market is not authorized to solicit investments from the public, not having secured prior registration and/or license to sell securities or solicit investments as prescribed under Section 8 of the Securities Regulation Code (SRC).
Moreover, the “F2M 3 Months Paalaga System” business scheme being offered by the subject entities shows indication of a possible “Ponzi Scheme” where moneys from new investors are used in paying “fake profits” to prior investors.
Further investigation reveals the SEC registration of “F2M AGRI-FARM OPC”, whose authorized representative’s name as appearing in its Application for SEC Registration is similar to that of the owner of F2M Agricultural Farm and the known operator of FARM TO MARKET TARLAC CITY – MAIN BRANCH.
Though registered with the Commission, “F2M AGRI-FARM OPC” is likewise not authorized to solicit investments from the public, not having secured prior registration and/or license to sell securities or solicit investments as prescribed under the Securities Regulation Code (SRC).
The SEC Advisory also includes the Farm To Market’s subsidiaries and branches, namely, FARM2MARKET TUGUEGARAO BRANCH / FARM TO MARKET DAGUPAN /FARM 2 MARKET LA UNION BRANCH / FARM2MARKET LAGAWE, IFUGAO / FARM2MARKET-SOLANO NUEVA VIZ.BRANCH / FARM TO MARKET TAYUG.
The SEC also warns those who act as salesmen, brokers, dealers or agents, representatives, promoters, and recruiters in soliciting or convincing people to invest in the investment scheme being offered by the said entity including soliciting investments or recruiting investors through the internet may be held criminally liable under Section 11 of the Financial Products and Services Consumer Protection Act
(FCPA) and Section 28 of the SRC which are both penalized separately with a maximum fine of Five Million Pesos (Php5,000,000.00) or imprisonment of Twenty One (21) years or both.
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