May 7, 2020
SEC ADVISORY
The Commission has received information that an individual or group of persons representing an entity named FRIEND$HIP/FRIEND$HIP PHILIPPINES 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 FRIEND$HIP/FRIEND$HIP PHILIPPINES entices the public to invest by offering an online business with a minimum investment, also called as the subscription fee, of $7.99 or Php385.00 and a promise of earning $1.00 per successful referral in the "1st level down to the 5th level generational network globally." Said subscription fee may be paid using PayPal, banking system, visa card or bitcoin. Below are screenshots of Facebook (FB) posts showing its offer:
Further, FB posts and promotional videos claimed that FRIEND$HIP is a social media platform that aims to empower subscribers to earn money by sharing through a referral program. It offers a social media networking, telecommunication and residual income by sharing their revenue to their subscribers equally. The referral can...
