24k TimesGold International Marketing Inc. - Warnung SEC Philippines
24k TIMESGOLD INTERNATIONAL MARKETING INC.
The Securities and Exchange Commission (SEC) has received reports that 24k TIMESGOLD INTERNATIONAL MARKETING INC. (Also known as "TIMESGOLD") is engaged in investment-taking activities wherein a minimum investment of P10,000 will earn 26% interest or P 2,600 after a period of fifteen (15) days.
24k TIMESGOLD INTERNATIONAL MARKETING INC. a.k.a. Timesgold is NOT AUTHORIZED to solicit investments from the public as it did not secure the necessary permit from the Commission as required under Section 8 of the Securities Regulation Code. Based on its Articles of Incorporation, it was formed only for the purpose of engaging in "marketing services specializing in the conceptualization, packaging and marketing of products in the retail, commercial business and to market products and services related thereto." Its authorized purposes do NOT include the undertaking of investment-taking activities. Moreover, its incorporators are not licensed to solicit investments.
Those who invite or recruit other people to join or invest in this venture or offer investment contracts or securities to the public may be held criminally liable or accordingly sanctioned or penalized, in accordance with the Supreme Court decision in the case of SEC vs. Oudine Santos [G.R. 195542, March 19, 2014].
In view thereof, the public is advised to STOP INVESTING in this kind of investment activity to take necessary precautions in dealing with the above-named entity and/or its representatives.
Should you have any information regarding the operation of this entity, please call the Enforcement and Investor Protection Department at telephone number (02) 584-7652.
Mandaluyong City, January 11, 2016.