2020
ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT
SEC ADVISORY
The Commission has received and verified information that entities operating under the name "THE PROGRAM" and "FINANCIAL EDUCATION AND ENTREPRENEURIAL DEVELOPMENT (FEED) PROGRAM" are engaged in soliciting investments from the public, particularly the teachers, military personnel, police officers, OFWs and other professionals.
Open source verification from social media such as Facebook revealed that the schemes being employed by THE PROGRAM and the FEED PROGRAM are similar to the investment schemes offered by the TEACHERS FINANCIAL COACHING PROGRAM (TFCP)/TEACHERS FINANCIAL FREEDOM PROGRAM (TFFP)/ELITE TEACHERS FINANCIAL PROGRAM (ETFP)/TEACHERS FINANCIAL PROGRAM (TFP), described as follows:
"The public school teachers are enticed to invest an amount of Php115,000.00 or they are assisted by the entities to obtain a loan from a bank for the said amount in exchange for Php11,000.00 worth of Royale beauty products/food supplements and a cheque amounting to Php10,500.00. The investor will be required to recruit new members to further receive another Php11,000.00 for each recruit. Training seminars on financial literacy and promises of a debt-free life, double net pay, owning a...
