Bitexpress Security and Commodity Contracts Brokerage

March 23, 2021 ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT SEC ADVISORY Information gathered from online sources and reports from the public show that BITEXPRESS SECURITY AND COMMODITY CONTRACTS BROKERAGE or BITEXPRESS is claiming to be a legitimate company specializing in Bitcoin trading and owned by a certain MELVIN JOHN BALLESTEROS QUINTO , who claims to be a trader. BITEXPRESS SECURITY AND COMMODITY CONTRACTS BROKERAGE or BITEXPRESS is providing a Return of Investment to its investors at 150% in just 12 days, 300% for 20 days, and 500% for just 30 days for its Silver, Gold, and Diamond Complans, respectively. The public is hereby informed that BITEXPRESS SECURITY AND COMMODITY CONTRACTS BROKERAGE or BITEXPRESS is not registered with the Commission either as a corporation or as a partnership. However, BITEXPRESS SECURITY AND COMMODITY CONTRACTS BROKERAGE has been issued a Certificate of Business Name Registration on 05 January 2021 by the Department of Trade and Industry with Business Name No. 2388556 under the name of MELVIN JOHN BALLESTEROS QUINTO . Nonetheless, BITEXPRESS SECURITY AND COMMODITY CONTRACTS BROKERAGE or BITEXPRESS is not authorized to solicit investments from the public as it did not secure prior registration and/or license to solicit investments from the Commission as prescribed under Section 8 of the Securities and Exchange Commission. Likewise, its name DOES NOT APPEAR among the registered banks, exchanges or companies engaged in digital assets with the Bangko Sentral ng Pilipinas (BSP) in accordance with the GUIDELINES FOR VIRTUAL CURRENCY EXCHANGES (BSP CIRCULAR NO. 944) which requires all entities engaged in Virtual Currencies in the Philippines to obtain a Certificate of Registration to operate as remittance and transfer company pursuant to the BSP rules and regulations. Further, TRADEXPERT/TradeXpert Technology Information Services PhilHelp is also NOT REGISTERED either as a crowdfunding intermediary or a funding portal under SEC Memorandum Circular No. 14, Series of 2019 or the Rules and Regulations Governing Crowdfunding . Those who act as salesmen, brokers, dealers or agents of the said entity in selling or convincing people to invest in the investment scheme it is being offered including soliciting investments or recruiting investors through the internet may be held criminally liable under Section 28 of the SRC and penalized 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. In view thereof, the public is hereby advised NOT TO INVEST or STOP INVESTING in any investment scheme being offered by any individual or group of persons allegedly for or on behalf of BITEXPRESS SECURITY AND COMMODITY CONTRACTS BROKERAGE or BITEXPRESS and to exercise caution in dealing with any individuals or group of persons soliciting investments for and on behalf of it. Should you have any information regarding the operation of the subject entity, please submit your report to the Enforcement and Investor Protection Department at [emailprotected] . For the guidance of the public. Pasay City, March 23, 2021.