Public Caution Against SOLACE PH's Unauthorized Investment Schemes

The public is urged to exercise extreme caution regarding SOLACE PH, an entity that has recently come under scrutiny for its unauthorized solicitation of investments. According to reports, SOLACE PH, led by its purported CEO, Shirley Mae Roxas Solis, has been enticing the Filipino investing community with promises of high returns on cryptocurrency trading.

Despite the enticing offers displayed on SOLACE PH's social media platforms, including their Facebook group, Facebook page, and website, it is crucial to note that SOLACE PH lacks the necessary authorization to legally solicit investments from the public. These investment opportunities promise a 110% return on the initial investment in 21 days and a 40% return in just 9 days, alongside a savings plan offering growth on investments ranging from 25,000 to 200,000 pesos.

Under the Securities Regulation Code, the investment scheme presented by SOLACE PH falls into the category of an “investment contract,” which requires a secondary license from the Commission. However, investigations reveal that SOLACE PH is not registered as a corporation or partnership and thus cannot hold such a license.

Furthermore, the investment scheme of SOLACE PH is identified as a “Ponzi Scheme.” In this setup, funds from new investors are used to pay off earlier investors, creating a cycle that is unsustainable and often collapses when new investments dry up. This type of scheme is not only illegal but also highly detrimental to later investors.

The Financial Products and Services Consumer Protection Act (FCPA) also highlights the prohibition of investment fraud, which includes deceptive solicitations like those offered by SOLACE PH. The law makes it clear that engaging in such activities without a license or permit from the SEC is illegal.

In light of these findings, the public is strongly advised not to invest or stop investing in SOLACE PH's scheme. Caution is also recommended when dealing with individuals or groups related to SOLACE PH and Shirley Mae Solis, who may be soliciting investments or recruiting investors.

Anyone acting as a salesperson, broker, dealer, agent, promoter, recruiter, or influencer for SOLACE PH could face criminal charges under Section 11 of the FCPA and Section 28 of the SRC. Violations carry penalties of up to five million pesos (Php5,000,000.00) imprisonment of up to twenty-one years, or both, as per Section 73 of the SRC.

Additionally, the names of those involved with SOLACE PH will be reported to the Bureau of Internal Revenue (BIR) for assessment of appropriate penalties and taxes.

For anyone with information regarding any investment solicitation by SOLACE PH or Shirley Mae Solis, please forward it to epd@sec.gov.ph.

To stay informed and make wise investment decisions, visit https://www.wikifx.com/en for more information on safe and authorized investment opportunities.

In conclusion, investing wisely requires thorough research and a keen eye for authorized entities. Before making any investment, verify the legitimacy of the offering party to avoid falling victim to unauthorized and potentially fraudulent schemes.

Protect your investments by staying informed. Visit WikiFX for up-to-date, reliable information on authorized investment opportunities and platforms. Make the smart choice for your financial future.