SEC flags unregistered firms that offer high returns

The Securities and Exchange Commission (SEC) has warned the public against entities illegally soliciting investments and operating unauthorized financing and lending activities.

In a statement, the regulator said offering investments without corporate registration and a secondary license violates Republic Act No. 8799 or the Securities Regulation Code.

The SEC flagged Aura Financing Corp./Aura Finance and Investments for operating without registration while soliciting investments from the public.

This group offered loans ranging from P6,000 to P20,000 with a 6-percent monthly interest under a diminishing balance scheme.

It also enticed investors to place P10,000 to P100,000 with promised monthly returns of six percent, subject to a lock-in period.

The SEC also identified unauthorized investment schemes tied to Amari Luxe Aesthetic and Wellness Clinic and CRF Beauty within Salon and Spa (Cosmolash).

These businesses allegedly used social media to offer guaranteed monthly returns of 10 percent to 12 percent.

Amari Luxe Clinic promoted a “coownership program.” Cosmolash offered partnership opportunities requiring P50,000 investments with P5,000 monthly returns for one year.

Meanwhile, Backoffice Associates Philippines and “Atome Loan: online lending app” were flagged for lacking authority to operate financing or lending businesses.

The SEC said the “Atome Loan” app also used the “Atome” name and logo without authorization, potentially misleading the public.

The Commission reiterated that such schemes pose risks to investors and urged the public to verify companies before investing.