August 4, 2020
ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT
SEC ADVISORY
Information gathered from online sources and reports from the public show that JUAN SAVINGS is claiming to be engaged in a legitimate forex trading business and has its own professional traders. It is allegedly being operated by its founder, ALEJANDRO "ALI" G. SARONA.
JUAN SAVINGS is providing a GUARANTEED fixed interest rate to investors, starting at 7% for thirty (30) business days. The investment is locked-in for ten (10) months where an investor is expected to get his profits monthly within the period of the 10-month contract and the full amount of investment at the end of the 10th month.
A Facebook (FB) account named "Juan Savings" using the url https://www.facebook.com/JuanSavingsOfficial/ is actively soliciting investments as shown in the following screenshot of an FB post:
The public is hereby informed that JUAN SAVINGS is not registered with the Commission and is not authorized to solicit investments from the public, not having secured prior registration and/or license to sell securities or solicit investments as prescribed under Section 8 of...
