THE Securities and Exchange Commission-Davao Extension Office has reiterated its call to the public not to invest in questionable entities because of the risk of losing their investments.
The call was made after 25 residents of General Santos City filed a complaint with the National Bureau of Investigation national headquarters after claiming that an entity failed to honor its promise for a 30% monthly return of investment.
Lawyer Katrina Jamilla P. Estares, SEC-Davao Extension Office director, said the public must always consider that, aside from not having licenses, when an entity promises huge investment, it is automatically a red flag.
A company that wants to engage in investment-taking would need, aside from a huge capital, “facilities that would prove that its operations are sustainable like investment houses and licenses for investment-taking aside from company certification and permits from the local government unit,” said Estares.
“There should always be an assurance that the company will be able to sustain its operations and provide profit to its clients,” she added.
One of the investors, a public school retiree, also made a similar call as he suspected that the entity, Mers Business Center, has started operating again as another scheme to cover its previous tracks.
“Protect your money and please don’t invest in questionable schemes,” said the retiree, who invested about P1.5 million including the loan that his wife obtained for the purpose,…