2020
ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT
SEC ADVISORY
The Commission has found postings on the internet where individuals or group of persons representing what they claim to be an independent Crowd Funding Platform called AZENZO-ONLINE, is enticing the public to invest in said entity.
AZENZO ONLINE boasts that they have a KAPA style system of Deposit-Donation, Withdrawal-Blessing.
Based on posts on Facebook (FB) and YouTube channel, AZENZO-ONLINE is enticing the public to invest in the said entity with a promise a 30% return or Blessing in as early as 5, 10 or 15 days and to a 100% "Donation Return" after 20 days.
This scheme of AZENZO ONLINE is relative to the offering and sale of securities, in the form of investment contracts, to the public because its investors need not exert any effort other than to invest or place monies in the said company in order to derive income.
As such, Section 8 of the Securities Regulation Code (SRC) requires that said offer and sale of securities must be duly registered with the Commission and that the...
