SEC warns vs C’preneur Perfume Trading

MANILA, Philippines — The Securities and Exchange Commission (SEC) has warned against investing in C’preneur Perfume Trading, which is allegedly enticing the public to participate in unauthorized investment schemes.

In a Sept. 16 advisory, the commission said C’preneur was supposedly offering investment packages worth P2,500 to as much as P100,000.

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The SEC cited C’preneur’s website as saying that a starter package worth P2,500 could lead to up to P3.3 million in earnings.

This is considered an investment contract or a kind of security, especially since a person is required to shell out money and earn profit “from the efforts of others,” the SEC pointed out.

Under the Securities Regulation Code, entities that want to offer and sell securities need to register with the SEC.

READ: SEC: Integrity to boost investments

Not registered

However, the regulator found that C’preneur was not registered with the commission and it was not authorized to solicit investments from the public. The company did not secure a registration and license, according to the SEC.

“The public is advised not to invest or stop investing in any investment scheme being offered by any person allegedly for on or behalf of [C’preneur], and to exercise caution in dealing with any individuals or group of persons soliciting investments for and on behalf of it,” the SEC said in its advisory.

Those found involved with C’preneur, including brokers and influencers, may be ordered to pay a fine of up to P5 million or face 21 years of imprisonment, or both.

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This is the SEC’s latest move against anomalous investment schemes conducted by unregistered companies in a bid to protect investors from fraud.