Narcfunds/Narcsfund

2020ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENTSEC ADVISORYThe Commission has received information that individuals or group of persons representing NARCFUNDS/NARCSFUND, are allegedly enticing the public to invest/donate in the said entity online or through the internet. As posted in its website, NARCFUNDS/NARCSFUND is allegedly being headed by Kwon, Jin-ho, a Korean national who is currently travelling across the globe in order to further the cause. Said CEO is presently and actively working in four (4) countries, namely; UK, Singapore, Korea and Philippines.Meanwhile, a Facebook (FB) Group of NARCFUNDS/NARCSFUND, known as Team PH Leaders, is actively being operated by its administrators and/or moderators.The FB posts of its members present the compensation plans of NARCFUNDS/NARCSFUND as follows:Further, a video was posted on the said FB Group explaining the marketing scheme of NARCFUNDS/NARCSFUND, to wit:• To be a member, a person should donate money in the amount of Four Thousand Pesos (Php4,000.00).• One Thousand Pesos (Php1,000.00) of the donated amount will go to the company, and the remaining Three Thousand Pesos (Php3,000.00) will go to the member's account.• To earn...