PH SEC Warns Against JVP Trading and VIRTO / Virtual Crypto Trading Ventures

The Securities and Exchange Commission (SEC) of the Philippines recently issued a public warning regarding unlawful investment activities by JVP Trading Expert Investment and VIRTO, or Virtual Crypto Trading Venture. The groups requesting investments from the public without the necessary legal permission or registration have prompted these notifications.

Proposals from JVP Trading Expert Investment Without Permission

JVP Trading Expert Investment, run by Jumar Velasquez Puzon, has been found to provide investment opportunities with very high monthly returns, ranging from 100% to 300%, via a range of investment plans branded Complan J, Complan V, and Complan P. This organization is not registered as a corporation and does not have the required authority to solicit investments, which means that the SEC claims that it violates Sections 8 and 26 of the Securities Regulation Code (SRC). Furthermore, they violate the Financial Products and Services Consumer Protection Act (FCPA), which prohibits Ponzi schemes. The rule protects investors from dishonest investment programs that promise high returns with little risk.

VIRTO Suspected as Potential Ponzi Scheme

Similarly, Michaela Francesca Togonon assumes the leadership role of VIRTO, an organization specializing in financial advisory services and asset trading. It resembles a Ponzi scheme in which the funds contributed by new investors are used to reimburse the gains made by earlier investors. They provide three investment bundles with substantial return expectations. Such schemes are frequently unsuccessful and impractical, resulting in increased losses for investors. The SEC has determined that the Virtual Crypto Trading Venture, or VIRTO, is not authorized to solicit investments or be registered as a company, in violation of the FCPA and SRC.

Significance of the Law and Public Counsel

Acting as brokers, sales agents, or promoters for these unauthorized firms may have serious legal repercussions, as the SEC makes clear. These individuals may face criminal charges, lengthy prison terms, hefty fines, and other consequences under the SRC and FCPA regulations. The Commission advises the public not to participate in these schemes and to proceed with care when thinking about making any unregistered investments. They also recommend that anyone with information on the operations of JVP Trading Expert Investment and Virtual Crypto Trading Venture (VIRTO) contact the SEC's Enforcement and Investor Protection Division.

In conclusion

The SECs admonitions against JVP Trading Expert Investment and VIRTO, or Virtual Crypto Trading Venture, are crucial to the integrity of the Philippine financial market. These warnings starkly highlight the risks of engaging in unlicensed and unregulated businesses. Thorough deliberation and investigation are deemed essential before undertaking any investment endeavor. The SEC must take this proactive stance in issuing these warnings to safeguard the public's interests and promote a secure investment environment in the Philippines.

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