PH SEC Warns on Telegram Recharging Task

MANILA, PHILIPPINES– The Securities and Exchange Commission (SEC) has issued a significant warning to the public about the operations of META ADVERTISING COMPANY, also known as META ADS LTD and META ADS. This advice is in response to many complaints and questions from concerned residents regarding the entity's aggressive recruiting practices, which promise huge profits via an investment plan called “Tasking and Recharging.”

According to investigations, META ADVERTISING COMPANY has been spreading the word about their scam using popular messaging platforms such as WhatsApp and Telegram. Individuals are first drawn in by the promise of quick money for doing basic internet activities, such as videos, with instant monetary benefits. The fraud gradually rises to require participants to deposit large sums of money with the promise of even bigger profits, via a so-called “Mission Program” with investment possibilities ranging from Php 5,000.00 to Php 46,800.00, with returns of 60% to 80%.

However, multiple complaints have arisen stating that after these tasks are performed and investments have been made, the platform undergoes abrupt alterations, making it difficult for participants to withdraw their promised profits. This trend raises serious questions regarding the operation's legality and the security of the money invested.

After careful review, the SEC found that META ADVERTISING COMPANY, along with its numerous aliases, is not registered as a company or partnership. Furthermore, they lack the essential secondary authorization to solicit investments or sell securities to the public, which is a requirement for any organization engaged in investment collecting operations.

The “Tasking and Recharging” plan fits within the Securities Regulation Code's definition of issuing and selling securities in the form of investment contracts. Such operations need SEC registration and license, which META ADVERTISING COMPANY does not have. The program also has the characteristics of a possible “Ponzi Scheme,” in which profits to previous investors are paid from new participants' payments, a system that is intrinsically dishonest and unsustainable.

The SEC strongly recommends the public exercise extreme care and avoid investing in the schemes provided by META ADVERTISING COMPANY and its subsidiaries. Engaging with such unregistered businesses not only jeopardizes personal money but also violates financial rules intended to safeguard investors.

Individuals who act as promoters, recruiters, or in any other capacity to solicit investments for META ADVERTISING COMPANY may face criminal penalties, including substantial fines and jail, under the Financial Products and Services Consumer Protection Act (FCPA) and the SRC.

The Commission advises anybody who has information on META ADVERTISING COMPANY's activities to contact the Enforcement and Investor Protection Department (EIPD) at 8818-6047 or epd@sec.gov.ph. The SEC is dedicated to protecting the public from fraudulent investment schemes and promoting a safe investing environment in the Philippines.

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