June 9, 2020
ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT
SEC ADVISORY
The Commission has received information that an individual or group of persons representing an entity named ELITE ONLINE SYSTEM/ELIT3 ONLINE SYSTEM/EOS are enticing the public to invest their money in the said entity with the promise of high monetary rewards or profits.
Information gathered from online sources and reports from the public show that ELITE ONLINE SYSTEM/ELIT3 ONLINE SYSTEM/EOS is employing the same schemes and is being managed by the same person or group of persons operating the TEACHERS FINANCIAL COACHING PROGRAM (TFCP)/TEACHERS FINANCIAL FREEDOM PROGRAM (TFFP)/ELITE TEACHERS FINANCIAL PROGRAM (ETFP)/TEACHERS FINANCIAL PROGRAM (TFP), against which an Advisory has been issued by the Commission on 10 January 2020.
The investment schemes being employed by the subject entity involved enticing the public to invest a minimum amount (e.g., Php115,000.00) or assist them to obtain a loan from a bank for the said amount in exchange for products and checks of lesser value. Training seminars on financial literacy and promises of a debt-free life, double net pay, owning a car, travel...
