May 24, 2016
SEC ADVISORY
The Securities and Exchange Commission ("Commission") has received reports that PEDVEL MARKETING/PV AND VV POTENTIAL DEVELOPMENT VENTURES CORPORATION/POTENTIAL ECONOMIC VENTURE CONSUMERS COOPERATIVE (also known as "PEDVEL") is engaged in investment-taking activities where one is promised to earn returns of 27.5% in a span of 36 days. Each "package" is worth Two Thousand Pesos (2,000.00Php), where the "member" gets to choose from among the product packages of the company plus 3 cash pay-outs of 850.00Php scheduled to be received within 36 days. The first pay-out to be received 14 days from the date of the receipt of the cash investment, then the second and third pay-outs to be received at 11 days interval, a total of 36 days.
PEDVEL MARKETING/PV AND VV POTENTIAL DEVELOPMENT VENTURES CORPORATION aka PEDVEL is NOT AUTHORIZED to solicit investments from the public as it did not secure the necessary permit from the Commission as required under Sections 8 and 28 of the Securities Regulation Code.
Based on its Articles of Incorporation, it was formed only for the purpose of...
