“NO PAIN, NO GAIN” IN EDUCATION
►SUPPLEMENT P10
EDGEDAVAO Serving a seamless society
VOL.12 ISSUE 55 • SUNDAY-MONDAY, MAY 26-27, 2019
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P 15.00 • 16 PAGES
WARNING. The Securities and Exchange Commission (SEC) issues a warning to the public against investing in Davaobased Rigen Marketing, which has been soliciting investments with promises of 400 percent returns in a short time. SEC also warned those who act as salesman, broker or agents of Rigen Marketing in convincing people to invest in the company that they will be persecuted and held criminally liable and will be penalized with a fine of P5 million or imprisonment of 21 years. Lean Daval Jr
STOP NOW
SEC commissioner bares advisory is only the first step
By NEILWIN JOSEPH BRAVO he modus operandi is simple. Rob Peter to pay Paul.
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Unsustainable? Yes. Illegal? Yes. People have been warned. They don’t listen now, but they must stop. This is the friendly
but stern caution of lawyer Javey Paul Francisco, Commissioner of the Securities and Exchange Commission (SEC), on the so-called investment
schemes. The Dabawenyo SEC Commissioner told Edge Davao in an exclusive interview that those who have invested “should immediately stop and inform us of these activities.” “Afterall, not only are they parting with their
money, they may even be held liable if they also convinced others to join. As we have often emphasized: “if something seems too good to be true, it probably is,” he said. In an advisory dated May 24, 2019, SEC warned the public against
investing in the Davaobased Rigen Marketing, which has been soliciting investments with promises of high returns in a short time. Rigen, which is based in Tagum City, Davao del Norte, entices the public to invest with a guaranteed return of 400
percent in just a month or so. “Essentially, an investment scam’s modus operandi is simple: rob Peter to pay Paul. That is the business model and is surely unsustainable not to mention illegal,” Fran-
FSTOP, P13