HNP-Högpong ng Pagtutulungan

September 1, 2020

ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT

SEC ADVISORY

The Commission hereby warns the public that HNP-HÖGPONG NG PAGTUTULUNGAN is offering loan services to the public and soliciting investments without the appropriate registration and authority from the Commission.

According to information gathered by the Commission, HNP-Högpong ng Pagtutulungan, founded by its CEO, Nacsonin Canopin, was initially enticing the public, specifically seafarers, to take out personal and business loans which they offer as a form of "assistance" to the financial needs of said seafarers. They later also offered said services to employees of shipping companies and even private entity employees.

HNP-Högpong ng Pagtutulungan offers the following loanable amount: Php20,000.00, Php50,000.00 and Php80,000.00 with an interest rate of 3%-5% monthly. A member may also invite or refer prospective clients to avail of the loan services and earn commission for every successful invite. However, an invited client must first pay a membership fee of Php1,000.00 to be able to take out a loan. The said membership fee is divided between the company and the one who referred the client as his/her...

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