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SEC says JJPTR or JJ POOR TO RICH not authorized to sell investment

The Commission has received information that JJPTR or JJ POOR TO RICH is soliciting investments from the public. The public is hereby informed that JJPTR is not registered with the Commission as a corporation or partnership. There being no primary license, it is not authorized to solicit investments which require a secondary license as provided under Sec. 8.1 of the Securities Regulation Code.

Based on information gathered from JJPTR’s online advertisements and presentations and received from concerned citizens, JJPTR purports to be an investment company founded last March 2015.

It claims to be engaged in “FOREX Trading” and offers investors a 20% fixed profit on their capital investment. Such unauthorized solicitation of investment from the public is illegal and is punishable by law pursuant to Section 8(8.1) in relation to Section 73 of the Securities Regulation Code.

Those who act as salesmen, brokers, dealers, or agents of JJPTR in selling or convincing people to invest in the investment scheme being offered by JJPTR including doing solicitations or recruitment through the internet may likewise be prosecuted and held criminally liable under Section 28 of the Securities Regulation Code and penalized with a maximum fine of FIVE MILLION (P5,000,000.00) PESOS or a maximum penalty of TWENTY ONE (21) years imprisonment or BOTH pursuant to Section 73 of the SRC.

Accordingly, those who invite or recruit or convince people to join or invest in the venture or offer investment contracts or securities to the public may be charged and held criminally liable or accordingly sanctioned or penalized in accordance with the Supreme Court decision in the case of SEC vs. Oudine Santos [G.R. No. 195542, March 19, 2014].

In view thereof, the public is advised to STOP INVESTING in this kind of investment activity and to take the necessary precautions in dealing with the above-named entity and/or its representatives. If you have invested money or were invited to invest in JPPTR, you may seek the assistance of the Enforcement and Investor Protection Department of the Securities and Exchange Commission with office address at the North Wing Hall, Ground Floor, Secretariat Building, PICC Complex, Pasay City or you may call telephone number: (02)818-7187. (Source: Security and Exchange Commission Website)

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