FOLKS, KINDLY SHARE WITH OTHERS: BE AWARE...BEWARE... MADAMING VICTIMS DAW ANG ON GOING SCAM NA EMGOLDEX, NA ISANG ONLINE INVESTMENT FRAUD DAW....uses gold as bait, but in reality there is no gold. BASAHIN din ninyo itong case sa U.S. vs EMGOLDEX: sec.state.ma.us/sct/current/sctemgoldex/EmGoldex-et-al-Complaint-Docket-No-2014-0056.pdf thephilippinepride/government-warns-massive-online-gold-investment-fraud-could-hit-ofws-badly/ Contributed by Maia Capra 01/22/2015 – Manila | The Philippine government has acted fast after reports have been verified that there are hundreds to even thousands of OFWs in Taiwan and Middle East who have been lured to the massive online investment fraud called Emgoldex. A representative from Philippine Information Agency (PIA), Atty. Victor Beltran, told reporters on Tuesday that the agency has already sent press release to Philippine embassies in Middle East. Beltran says OFW should stay away from this massive fraud which uses gold as bait, but in reality there is no gold. US regulators in Massachusetts filed a complaint against Emgoldex operators in US and is currently under review. The whole document is available to download from the Massachusetts Secretary of State Emgoldex, an alleged investment company with offices in Munich, Germany and Dubai, but said to have been registered in Seychelles, has a mysterious identity. Beltran said, any company that focuses on recruitment rather than selling should be avoided. “We must learn our lesson from NBO Global and other programs that closed last year. Emgoldex is bigger and more destructive than any of the previous investment scams so we must be cautious and keep our money inside out pockets,” Beltran added. Colombia is the first country to totally ban Emgoldex operations. The mysterious company is currently under investigation in Panama. Several Panamian banks have already warned people to stay away from the said pyramid scheme. Emgoldex has been promoted online through social media and is active in the Philippines, but the government has only acted recently after full verification of the program’s destructive marketing plan. “It is not bad for our OFW brothers and sisters to look for extra income, but we must analyze everything before we join and throw away our money. There is no legit and sustainable business that offers return which is ten folds higher than the stock market bonds and foreign exchange,” Beltran said. The agency is looking for more ways to ban the program inside the Philippines with the help of other government agencies like NBI and DTI. Although some of the members are earning right now, there is no guarantee that the company will stay longer based on its vulnerable marketing strategy where earnings of old members are being taken from new members. ~~~~~~~~~~~~~~~ excerpt: sec.state.ma.us/sct/current/sctemgoldex/EmGoldex-et-al-Complaint-Docket-No-2014-0056.pdf COMMONWEALTH OF MASSACHUSETTS OFFICE OF THE SECRETARY OF THE COMMONWEALTH . SECURITIES DIVISION . ONE ASHBURTON PLACE, ROOM 1701 BOSTON, MASSACHUSETTS 02108 )) ADMINISTRATIVE ) COMPLAINT ) Docket No. E-2014-0056 )) ) RESPONDENTS. ) -----------) I. PRELIMINARY STATEMENT The Enforcement Section of the Massachusetts Securities Division of the Office of the Secretary of the Commonwealth (the Enforcement Section and the Division, respectively) files thiscomplamt (the Complaint) in order to commence an adjudicatory proceeding against Respondents EmGoldex Team USA, Inc., Matthew Michael D Agati, James Vincent Piemonte, Jonathan Herman Seigler, and Joseph Zingales (collectively Respondents) for violations of MASS. GEN.LAWSch. IIOA,the Massachusetts Uniform Securities Act (Act), and 950 MASS.CODE REGS. 10.00 et seq. (Regulations). The Enforcement Section alleges that Respondents, acting individually and collectively, fraudulently offered and sold unregistered and non-exempt securities in the Commonwealth without being registered as a broker-dealer, broker-dealer agent, investment adviser, or investment adviser representative. The Enforcement Section further alleges that the offers and sales of securities were part of a pyramid scheme and Respondents promotion of such scheme defrauded Massachusetts investors.
Posted on: Thu, 22 Jan 2015 20:27:56 +0000
Trending Topics
Recently Viewed Topics
© 2015