Philippines SEC Issues Warning Against CLIQUETRADE Investment Scheme

The Philippines' Securities and Exchange Commission (SEC) has warned the general public strongly about CLIQUETRADE, a company that uses social media to lure people into investing with claims of huge profits. This warning comes after a plethora of evidence and claims that CLIQUETRADE, led by CEO and founder Reynaldo VI Alcoriza, is aggressively pushing several investment schemes without the required license or registration.

With the claim that via smart cryptocurrency transactions, CLIQUETRADE can convert aspirations into millions, the company bills itself as a revolutionary investment opportunity in the cryptocurrency field. Among the contract options that the firm provides are a 7-day plan that turns Php1,000 into Php1,300, a 20-day plan that makes Php2,000 from the same starting money, a 35-day plan that promises Php3,000, and a 45-day plan that projects Php4,000. Possible profits could vary from 30% to 300%, depending on the selected strategy.

Apart from these alluring programs, CLIQUETRADE also provides a 20% direct referral incentive for each successful recommendation, which motivates members to attract fresh investors. The SEC does point out that these investment contracts are classified as securities, which need the appropriate registration and licensing.

The SEC has attested that CLIQUETRADE is not registered as a partnership or company and does not have the required licenses to approach, accept, or receive public investments. Investors who may be interested take a big risk because of the company's illicit activities and the high return claims.

It is highly cautioned against the public investing in the plans of CLIQUETRADE. Legal ramifications might be dire for those who promote, hire, or seek investments in CLIQUETRADE.

Crimes may be committed by offenders under Section 28 of the Securities Regulation Code (SRC) and Section 11 of Republic Act No. 11765, often referred to as the Financial Products and Services Consumer Protection Act.

Penalties include, in the SEC v. Oudine Santos case (G.R. No. 195542, 19 March 2014) penalties of up to Php5,000,000 and jail terms of up to 21 years.

The advice issued by the SEC emphasizes the need to confirm the legality of investment opportunities and attempts to shield the general public from fraudulent investment schemes. Recalling that any organization providing investment products via the proper SEC channels should have its registration and license status checked, investors should.

Finally, the SEC's warning should be a vital reminder to proceed with prudence and due investigation when evaluating investment prospects, especially those that offer remarkably high returns at little risk. To assist stop possible fraud and financial loss, the public is urged to notify the SEC of any unusual investing activity.

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