Warning aired vs investment scam | Inquirer Business

Warning aired vs investment scam

By: - Business Features Editor / @philbizwatcher
/ 05:53 AM July 23, 2015

The Securities and Exchange Commission (SEC) has warned the public not to fall prey to an investment scam perpetrated by a Laguna-based beauty product distribution company called F.L.A.G. Prosperity Marketing Inc., also known as Freedom Life Advanced Global Prosperity Marketing Inc.

In an official advisory, SEC said that F.L.A.G. Prosperity Marketing was not authorized to solicit investments from the public, noting that this firm had not secured prior registration and/or license from the SEC to solicit investments as required under Section 8.1 of the Securities Regulation Code.


“…The public is hereby advised to exercise self-restraint from investing their money into such investment scheme and to take the necessary precautions in dealing with the above entity,” the corporate watchdog said in an advisory dated July 16.

The SEC noted that F.L.A.G. Prosperity Marketing has been engaged in investment-taking activities where a prospective investor was enticed to invest one to 15 slots amounting to P1,500 each, promising a return of P2,200 or earning at least P700 in profits.


Although based in Calamba City in Laguna, the SEC noted that this group was also operating in the provinces of Batangas, Quezon, Isabela, Cavite as well as in the Bicol region and National Capital Region.

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: F.L.A.G. Prosperity Marketing, investment scam, Investments, SEC, Securities and Exchange Commission
For feedback, complaints, or inquiries, contact us.

Curated business news

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2022 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.