Sprhy Gold Investment

September 4, 2023 ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT SEC ADVISORY This is to inform the public that SPRHY GOLD INVESTMENT is NOT AUTHORIZED TO SOLICIT INVESTMENT FROM THE PUBLIC. TIADCc Based on the reports and information gathered by the Commission, SPRHY GOLD INVESTMENT is enticing the public to invest in their business scheme entitled SPRHY GOLD INVESTMENT/SPRHY CASH PALUWAGAN for a promise of high monetary rewards or profits. As posted online, SPRHY GOLD INVESTMENT/SPRHY CASH PALUWAGAN , is offering investments to the public for minimum amount of Php5,000.00 up to Php500,000.00. Investor can earn 15% up to 30% after 30 days. Briefly, an "investment contract" exists when there is an investment or placement of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others which is prominent in the scheme of, SPRHY GOLD INVESTMENT/SPRHY CASH PALUWAGAN . As such, the Securities Regulation Code (SRC) requires that said offer and/or sale of securities must be duly registered with the Commission and that the concerned entity and/or its agents should have the appropriate registration and/or license to sell such securities to the public. cSEDTC Based on the Commission's database, SPRHY GOLD INVESTMENT/SPRHY CASH PALUWAGAN , is NOT REGISTERED as a corporation or partnership and OPERATES WITHOUT THE NECESSARY LICENSE AND/OR AUTHORITY 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) . Further, the scheme employed by, SPRHY GOLD INVESTMENT/SPRHY CASH PALUWAGAN has the characteristics of a "Ponzi Scheme" where money from new investors are used in paying "fake profits" to prior investors and is designed mainly to favor its top recruiters and prior risk takers and is detrimental to subsequent members in case of scarcity of new investors. The offering and selling of securities in the form of investment contracts using the "Ponzi Scheme" which is fraudulent and unsustainable, 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. In view thereof, the public is hereby advised NOT TO INVEST or to STOP INVESTING in the investment scheme being offered by, SPRHY GOLD INVESTMENT/SPRHY CASH PALUWAGAN as well as to any other entities having the same or similar schemes and to exercise caution in dealing with any individuals or group of persons soliciting investments or recruiting investors for and on behalf of SPRHY GOLD INVESTMENT/SPRHY CASH PALUWAGAN . Those who act as salesmen, brokers, dealers or agents, representatives, promoters, uplines, recruiters, influencers, endorsers and enablers of SPRHY GOLD INVESTMENT/SPRHY CASH PALUWAGAN , in selling or convincing people to invest in the investment scheme being offered by the said entity including soliciting investments or recruiting investors through the internet may be held criminally liable under Section 11 of the Financial Products and Services Consumer Protection Act (FCPA) and under Section 28 of the SRC and both penalized separately with a maximum fine of Five Million Pesos (Php5,000,000.00) or imprisonment of Twenty One (21) years 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. Should you have any information regarding any investment solicitation by any individual or group of individuals on behalf of SPRHY GOLD INVESTMENT/SPRHY CASH PALUWAGAN , please send your report through email at [emailprotected] . For the information and guidance of the public. Makati City, September 4, 2023.