SEC flags RGS Earth Advertising and marketing effortless-dollars scheme
THE Securities and Exchange Fee (SEC) issued an advisory against investing in an additional unauthorized group, RGS World Marketing Corp., which also operates underneath the names RGS On the web Shop, RGS On the internet Advertising, and RGS On the internet Basis.
The groups are stated to be headed by Rodolfo Garcia Salarda, Jr., Henje Noble Cuadra, and Engie Esteves.
RGS On the web Store/RGS On the web Internet marketing is registered with the Division of Trade and Sector (DTI) beneath Business enterprise Name No. 2240745 on Oct. 14, 2020.
Meanwhile, RGS Earth Advertising and marketing is a company registered with the SEC below company registration No. CS202069716 on Dec. 10, 2020.
RGS Basis is not registered with the commission.
RGS Planet Marketing’s principal presenting consists of a scheme wherein buyers can easily gain income.
“Investigation disclosed that the lynchpin of RGS Entire world Promoting Corp.’s plan is its Very first In Very first Pay out Out Policy and No Invite No Pay out Out Plan, which signifies an investor is no more time required to do anything, [for example], market RGS Cleaning soap and RGS Liniment Oil between other individuals, other than to wait around for the return of his or her dollars,” the corporate regulator explained in an advisory.
The entities are in multi-level marketing and advertising, which entails chain distribution or pyramid profits, the SEC claimed, as it reminded the community that the scheme is “prohibited by the Republic Act No. 7394 or the Consumer Act of the Philippines as the company relies intensely on recruitment of likely users alternatively than offering its products.”
The commission also explained that RGS World Marketing’s multi-level marketing is a entrance for its unauthorized financial commitment assortment functions.
The entities are reportedly giving a scheme referred to as “complans,” in which traders are grouped in accordance to the strategies they choose.
Those people lured in the scheme are promised a return of at the very least 250% within just a thirty day period or so, depending on the plan and the payout routine they signal up for.
Investors can set in as lower as P1,000, with a guarantee of a certain expansion to P3,500 whilst investments worth P5,000 are promised P17,500.
Those people who devote P10,000 in the plan are promised a advancement of 250% to 300%, with returns ranging from P35,000 to P40,000.
A P20,000 expense, meanwhile, may possibly get paid up to P80,000.
RGS Entire world Marketing also provides buyers three different techniques of earning: via referral bonuses, board reward or payouts, or via direct marketing.
Those people who choose to make by using immediate marketing will obtain RSG solutions for use or for sale for just about every P1,000 worth of membership.
The SEC maintains that the entities do not have a license to accumulate investments from the community. It observed that the give of MGS World Advertising and marketing resembles a Ponzi plan, wherever buyers earn via the investments of new recruits.
“Please be educated that though RGS Entire world Internet marketing Corp. is a registered corporation under the Revised Corporation Code of the Philippines, and when RGS On the internet Store/RGS On the net Marketing and advertising are registered with the DTI, nonetheless, all of them are not licensed to solicit investments from the general public as they did not safe prior registration and/or license to solicit investments from the Fee as recommended beneath Section 8 of the Securities Regulation Code,” the fee warned.
The SEC reported the advisory towards RGS Earth Advertising and marketing is the 10th warning the commission issued on unlawful financial commitment techniques this year. — Keren Concepcion G. Valmonte
