Alabel-Maasim Credit Cooperative - Warnung SEC Philippines
The public is hereby warned concerning the investment taking activities of ALMAMICO/ALAMCCO.
ALMAMICO/ALAMCCO is enticing the public to become their member through an
investment opportunity. The scheme is to offer 35% interest per month of the invested money,
a promised interest rate that is too high to sustain their claims that every member will receive as
long as the cooperative operates.
Per verification, ALMAMICO (Alabel-Maasim Small Scale Mining
Cooperative)/ALAMCCO (Alabel-Maasim Credit Cooperative) is NEITHER registered as a
corporation NOR as a partnership. Thus, NOT being registered with this Commission as a
corporation nor as a partnership, it is with more reason that they are NOT allowed to offer, solicit,
sell or distribute any investment/securities from the public as the same requires a secondary
license for such activity.
As we always keep on reminding the public, such investment opportunities are in the
nature of investment contracts, which in turn are considered as securities subject to the
regulatory authority of this Commission. The offering or sale of securities to the public without a
permit or license from the Commission is a violation of Section 8.1 of the Securities Regulation
We REITERATE that, those who act as salesman, brokers, dealers or agents of
ALMAMICO/ALAMCCO in selling or convincing people to invest in the investment scheme being
offered by ALMAMICO /ALAMCCO including solicitation or recruitment through the internet may
likewise be prosecuted and held criminally liable under Section 28 of the Securities Regulation
Code (SRC) and penalized with a maximum fine of Five Million pesos (P5,000,000.00) or penalty
of Twenty One (21) years imprisonment or both pursuant to Section 73 of the SRC.
Accordingly, those who invite or recruit other people to join or invest in this venture or
offer contracts or securities to the public may be held liable or accordingly sanctioned or
penalized in accordance with the Supreme Court decision in the case of SEC vs. Oudine Santos
(G.R. No. 195542, March 19, 2014).
In view thereof, the public is hereby advised to exercise caution before investing in these
kinds of activities and to take the necessary precaution in dealing with ALMAMICO/ALAMCCO or
Should you have any information regarding the operation of the subject entity please
call the Enforcement and Investor Protection Department at telephone numbers 818-6337 and
For guidance of the public.