Learn and Earn Online

April 15, 2021 ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT SEC ADVISORY Based on information gathered by the Commission, the entities operating under the names LEARN and EARN ONLINE, 247 CRYPTOTRADING FX, 247 CRYPTOTRADE ONLINE, EXCHANGESTOCK, BINARY OPTIONS TRADING , and WOLVES OPTIONS are soliciting investments in the Philippines WITHOUT THE NECESSARY LICENSE AND/OR AUTHORITY from the Commission. LEARN and EARN ONLINE operates from Kenya and appears to be acting as trading broker for 247 CRYPTOTRADING FX, 247 CRYPTOTRADE ONLINE, EXCHANGESTOCK, BINARY OPTIONS TRADING and WOLVES OPTIONS which are said to be based in United Kingdom, through the assistance of its representatives using apparent synthetic or fraudulent identities, namely: CONFIDENCE FRIDAY, IDONG UMOREN, DIMA VIAD SASHA, ITZ SMART LIVINUS, LAWRENCE PATRICIA , and LAWAN MUHAMAD MLS , among others. To wit : As advertised online, LEARN and EARN ONLINE is offering free seminars and tutorials on how to invest in cryptocurrencies and foreign exchange online. As shown: As part of its scheme, LEARN and EARN ONLINE will also lure the public to invest in 247 CRYPTOTRADING FX, 247 CRYPTOTRADE ONLINE, EXCHANGESTOCK, BINARY OPTIONS TRADING and WOLVES OPTIONS with the promise of lucrative returns with little or no risk. Their compensation plans or schemes are as follows: 247 Cryptotrading FX 247 Cryptotrade Online Exchangestock/Binary Options Trading Wolves Options Based on the foregoing, it appears that the said entities are using the same design or cookie-cutter interface for their websites and are offering "too good to be true" investment opportunities ranging from 18% to 1000% income per week which are indications of a possible "Ponzi Scheme" where returns to early investors are likely to be paid out from the investments of new investors and not out of the companies' profits. It must be emphasized that the offering and sale of securities in the form of investment contracts using the "Ponzi Scheme" is fraudulent and unsustainable and is NOT a registrable security . The Commission will NOT ISSUE a License to Sell Securities to the Public to persons or entities that are engaged in this business or scheme . Thus, the public is being warned of such probable scams. Please be informed that LEARN and EARN ONLINE, 247 CRYPTOTRADING FX, 247 CRYPTOTRADE ONLINE, EXCHANGESTOCK, BINARY OPTIONS TRADING , and WOLVES OPTIONS are NOT REGISTERED with the Commission and are NOT AUTHORIZED to solicit, accept or take investments/placements from the public nor to issue investment contracts and other forms of securities defined under Section 3 of the Securities Regulation Code (SRC) in the Philippines . Also, please note that they have no known operators and none of their agents, representative, and/or members have appropriate registration and/or license to offer or sell securities to the public as well. Our records likewise show that 247 CRYPTOTRADING FX, 247 CRYPTOTRADE ONLINE, EXCHANGESTOCK, BINARY OPTIONS TRADING , and WOLVES OPTIONS manages its digital exchange platform without proper registrations with the Commission relative to Section 32 of the SRC on the "Prohibition on Use of Unregistered Exchange." Moreover, NONE OF THESE ENTITIES ARE INCLUDED among the registered banks, exchanges or companies engaged in digital assets with the Bangko Sentral ng Pilipinas (BSP) in accordance with its GUIDELINES FOR VIRTUAL CURRENCY EXCHANGES (BSP CIRCULAR NO. 944) . Hence, the public is advised NOT TO INVEST or STOP INVESTING in any scheme offered by LEARN and EARN ONLINE, 247 CRYPTOTRADING FX, 247 CRYPTOTRADE ONLINE, EXCHANGESTOCK, BINARY OPTIONS TRADING , and WOLVES OPTIONS or any of their affiliates and to exercise due diligence before investing in any other entities that offer investments promising ridiculous and/or fixed rate of return with little or no risk. The Commission warns all unscrupulous individuals and/or entities that strict penalties are imposed for violations of the Securities Regulation Code, the Revised Corporation Code, and such other rules and regulations enforced by the Commission . Those who act as salesmen, brokers, dealers or agents of unauthorized entities in selling or convincing people to invest in their investment scheme offered including solicitations and recruitment through the internet like CONFIDENCE FRIDAY, IDONG UMOREN, DIMA VIAD SASHA, ITZ SMART LIVINUS, LAWRENCE PATRICIA , and LAWAN MUHAMAD MLS may likewise be criminally prosecuted and penalized with a maximum fine of Five Million pesos (P5,000,000.00) or a penalty of Twenty-one (21) years of imprisonment or both pursuant to Sections 28 and 73 of the SRC. Similarly, those who invite or recruit others to join or invest in such venture or offer investment contracts or securities to the public like may incur criminal liability, or otherwise be sanctioned or penalized accordingly as held by the Supreme Court in the case of SEC vs. Oudine Santos (G.R. No. 195542, 19 March 2014). The names of all those involved will also be reported to the Bureau of Internal Revenue (BIR) so that the appropriate penalties and/or taxes be assessed correspondingly. As always, it must be noted that the above laws are not aimed to hinder or pose significant threats or risks to businesses and cryptocurrency projects but are intended for the protection of both the registered entities and the investing public from any anomalies and/or irregularities which tend to result from any unlawful and/or unauthorized operations. The public is also reminded that the issuance of a Certificate of Incorporation only grants entities juridical personality but does not constitute an authority or license for the corporation to engage in activities that require a secondary license from the Commission such as a License to Sell Securities to the Public . Should you have any information regarding any investment solicitation activity by any individual or group of individuals representing LEARN and EARN ONLINE, 247 CRYPTOTRADING FX, 247 CRYPTOTRADE ONLINE, EXCHANGESTOCK, BINARY OPTIONS TRADING , and WOLVES OPTIONS including CONFIDENCE FRIDAY, IDONG UMOREN, DIMA VIAD SASHA, ITZ SMART LIVINUS, LAWRENCE PATRICIA , and LAWAN MUHAMAD MLS , please send your report to the EIPD at [emailprotected]. For the guidance of the public. Pasay City, April 15, 2021.