PH SEC Warns Against TRADE 13.0 SERAX

The Securities and Exchange Commission (SEC) warns the general public strongly about the illegal practices of a company going by the name TRADE 13.0 SERAX. This alert is in reaction to indications that TRADE 13.0 SERAX is pursuing investments in the Philippines without the Commission's required license or approval.

TRADE 13.0 SERAX has been using misleading strategies, like fabricating or phony internet comments, to erroneously claim endorsements from well-known people like Boy Abunda and Senator Raffy T. Tulfo. With promises of quick profits from auto-trading in cryptocurrencies, these dishonest tactics try to entice gullible investors into depositing a minimum of US$250 or Php14,000.00.

Additionally, the Commission has learned that TRADE 13.0 SERAX is also doing business as “TRADE 24 EVISTA,” pointing to a pattern of dishonest conduct meant to avoid regulatory inspection.

The SEC stresses that programs such as TRADE 13.0 SERAX and TRADE 24 EVISTA are akin to Ponzi schemes, which are typical of cryptocurrency fraud. Such plans tempt people to invest without the right knowledge or regulatory supervision by offering large profits with little or no risk.

According to the Securities Regulation Code (SRC), parties involved must have the necessary licenses and properly register any securities offered to the general public. But TRADE 13.0 SERAX and TRADE 24 EVISTA are not allowed to provide securities or solicit investments, nor are they registered with the Commission either.

As a result, the SEC cautions the general public against investing in any scam run by TRADE 13.0 SERAX and TRADE 24 EVISTA. Furthermore, people are advised to proceed with great care and avoid investing in such schemes that provide inflated returns since these organizations tend to alter their identities.

The Commission highlights the need to be vigilant to and reject fraudulent or misleading investment proposals, particularly those pushed by unscrupulous businesses like TRADE 13.0 SERAX and TRADE 24 EVISTA.

The Securities Regulation Code and other laws may result in severe consequences, including fines and jail time, for anyone or organizations engaged in promoting or assisting the schemes of TRADE 13.0 SERAX and TRADE 24 EVISTA, The SEC further cautions.

The relevant legislation provides that anybody found guilty of participating in these illicit investment schemes, such as salespeople, brokers, dealers, agents, promoters, or recruiters, may be prosecuted criminally and fined heavily.

The Securities and Exchange Commission (SEC) highly recommends that anybody possessing knowledge about TRADE 13.0 SERAX and TRADE 24 EVISTA operations promptly disclose any such activities. Emails to epd@sec.gov.ph or in person at the SEC offices in Makati City are accepted for report submissions.

This warning is designed to urge the general public to exercise care and thoroughness while considering investment options, as well as to report any unusual behavior to the proper authorities.