Innov8wealth Global

October 10, 2023 ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT SEC ADVISORY This is to inform the public that INNOV8WEALTH GLOBAL is NOT AUTHORIZED TO SOLICIT INVESTMENT FROM THE PUBLIC. Based on the information gathered from the reports and data from open sources, INNOV8WEALTH GLOBAL is an entity supposedly engaged in the trading of cryptocurrency, color game, betting, and AI-prediction bot. HTcADC As posted online by INNOV8WEALTH GLOBAL 's admin, the would-be investor may invest by choosing a plan. The investment plan may vary from fast start, leadership program, bronze plan and up to platinum plan . The investments may range from Php100.00 to Php500,000.00 . The interest per week that an investor may earn would be 10.88% to 28.56% depending on the initial investment. Interested investors may register through the website of INNOV8WEALTH GLOBAL and investments may be deposited through Gcash, Unionbank, Komobank, Seabank and CIMB Bank. CAIHTE In this regard, the public is made aware that an "investment contract," a kind of security, 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 INNOV8WEALTH GLOBAL . 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. Moreover, the Financial Products and Services Consumer Protection Act (FCPA) also prohibits investment fraud which is defined under the law as any form of deceptive solicitation of investments from the public which includes Ponzi schemes and such other schemes involving the promise or offer of profits or returns sourced from the investments or contributions made by the investors themselves and the offering or selling of investment schemes to the public without a license. Based on the Commission's database, INNOV8WEALTH GLOBAL , is NOT REGISTERED as a corporation. Hence, INNOV8WEALTH GLOBAL 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 INNOV8WEALTH GLOBAL 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 INNOV8WEALTH GLOBAL , and its representatives . aScITE Those who act as salesmen, brokers, dealers or agents of INNOV8WEALTH GLOBAL , 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 FCPA and Section 28 of the SRC where both are 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 the operation of INNOV8WEALTH GLOBAL , and its representatives, please send your report through email at [emailprotected] . For the information and guidance of the public. DETACa Makati City, October 10, 2023.