SEC warns public vs ‘Pegasus’ investment
The Securities and Exchange Commission (SEC) has warned the public against putting their money into The Pegasus International Ventures Inc., which allegedly offers shady investment deals.
In an advisory on Wednesday, the commission said a group of people behind the entity has been luring people into investing in its investment scheme that seems like a “recruitment-driven model.”
The SEC said this approach “is commonly associated with illegal or unauthorized investment schemes that are inherently unsustainable and detrimental to the public.”
It had learned that The Pegasus International Ventures has physical offices and conducts its operations online.
However, the SEC stressed that the entity is not licensed to solicit investments from the public.
Filipinos are urged anew to be vigilant against groups that offer “too good to be true” investment returns.
“The commission emphasizes that the mere registration of a corporation does not grant it the authority to solicit investments from the public,” it said.
“Any entity found soliciting investments without such a license, along with all individuals involved in its promotion, shall be subject to corresponding administrative, civil and criminal penalties under the law,” SEC added.
Just last month, the SEC had issued a warning against Gainexpress for “actively soliciting investments,” promising investors “exorbitant” gains.
Under the law, individuals or groups offering investments without the proper permits may be fined up to P5 million. They also face up to 21 years imprisonment or are liable to both penalties.
The SEC has advised the public to check the legitimacy of entities, as well as their investment offerings, on its website or mobile application.
