The Philippines Good Samaritan Riders Association, Inc./The Good Samaritan Riders Club

June 17, 2019SEC ADVISORYThe Commission has received numerous reports regarding the activities of an entity named THE PHILIPPINES GOOD SAMARITAN RIDERS ASSOCIATION (TPGSRA), INC./THE GOOD SAMARITAN RIDERS CLUB. Based on the information gathered by the Commission, THE PHILIPPINES GOOD SAMARITAN RIDERS ASSOCIATION (TPGSRA), INC./THE GOOD SAMARITAN RIDERS CLUB has been soliciting investments from the public guised as "donations." The scheme is presented as follows:1. Deposit or send donation amounting to Eight Thousand Pesos (P8,000.00) to the depository bank or any money padala outlets or to the program coordinator or directly to the Association and become the sponsor of someone wishing and needing a motorcycle. The "donor" is now qualified to be a recipient of a brand new and branded motorcycle.2. Look for two (2) sponsors to do the first step as indicated above and receive a financial assistance amounting to Five Thousand Pesos (P5,000.00) as down payment for the brand new and branded motorcycle.3. The Association will continue assisting financially by paying the monthly dues in the amount of Three Thousand Pesos (P3,000.00) for the...