July 08, 2024 - The Securities and Exchange Commission (SEC) Philippines is alerting the public against investing in Safe District Enterprise and Tabernacle House of Worship. These entities have been soliciting investments from the public without the necessary registration and authorization from the SEC.
Based on reports and information gathered by the SEC, these entities are offering and collecting investments or any amount from the public in exchange for promises of income, profits, or interest.
The SEC emphasizes that Safe District Enterprise and Tabernacle House of Worship are NOT REGISTERED and DO NOT HAVE THE PERMIT from the SEC to solicit investments from the public.
The modus operandi of some of these entities exhibits characteristics of a Ponzi Scheme, where investors are promised quick and high returns. The payouts to investors are solely derived from the contributions of subsequent investors. Eventually, the scheme becomes unsustainable, and investors, particularly those who joined later, are unable to recover their investments.
The SEC urges the public to exercise extreme caution and refrain from investing in Safe District Enterprise and Tabernacle House of Worship, or any other entity that is not registered with the SEC.
Red flags of investment scams:
- Unregistered and unlicensed entities: Verify the entity's registration status with the SEC through the SEC website or by contacting the SEC's Enforcement and Investor Protection Department (EIPD).
- Unrealistic promises of high returns: Be wary of investment schemes that promise unusually high returns in a short period of time. Legitimate investments typically carry a corresponding level of risk.
- Pressure to invest: Legitimate investment firms will not pressure you to make quick investment decisions.
- Lack of transparency: Be cautious of investment schemes that are not transparent about their operations, investment strategies, and fees.
If you encounter any suspicious investment activity, report it immediately to the SEC's EIPD:
- Call: 8818-6047
- Email: epd@sec.gov.ph
- Visit: EIPD, 9/F, The SEC Headquarters, 7907 Makati Avenue, Salcedo Village, Brgy. Bel-Air, Makati City
Protect yourself from investment scams. Invest wisely!