Teachers warned against investment scam



MANILA (Bicol Standard)--Public school teachers and non-teaching personnel have been advised to exercise self-restraint from investing their money into such high-yield, high-risk investment scheme and to take the necessary precaution in dealing with individuals representing an entities not registered with the Security and Exchange Commission.

Said entity uses the following names: Teachers Financial Coaching Program, Teachers Financial Freedom Program, Elite Teachers Financial Program, and Teachers Financial Program, according to a SEC Advisory.


Based on the information gathered by the Commission, said entity has been enticing the public school teachers to investment an amount of Php115,000.00 or assist the teachrs to obtaini a loan from a bank for the said amount in exchange for Php 11,000.00 worth of Royale beauty products/food supplements and a cheque amounting to Php 10,500.00.

However, the investor will be required to recruit new members to further receive another Php11,000.00 for each recruit. Said entity likewise offers training seminars on financial literacy and promises a debt-free life, double net pay, owning a car, travel with family and savings in the bank.

Said entity is not authorized to solicit investments from the public as the abovementioned entity did not
secure prior registration and/or license to solicit investments from the Commission as prescribed
under Section 8 of the Securities Regulation Code (SRC), the SEC stressed.

Those who act as salesmen, brokers, dealers, or agents of Teachers Financial Coaching Program, Teachers Financial Freedom Program, Elite Teachers Financial Program, and Teachers Financial Program in selling or convincing people to invest in the investment scheme being offered by it including doing solicitations or recruitment through the internet may likewise be prosecuted and held criminally liable under Section 28 of the SRC and penalized with a maximum fine of FIVE MILLION PESOS (P5,000,000.00) or a maximum penalty of TWENTY ONE (21) years imprisonment or BOTH pursuant to Section 73 of the SRC (SEC vs. Oudine Santos , G. R. No. 195542, 19 March 2014).

Furthermore, the names of all those involved will be reported to the Bureau of Internal
Revenue (BIR) so that the appropriate penalties and/or taxes be correspondingly assessed, the SEC said.

Said call by the SEC was reiterated by Department of Education Sec. Leonor Magtolis Briones this week.
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