July 7, 2020
ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT
SEC ADVISORY
Based on numerous reports and information gathered by the Commission, THE SEASHORE BEACH CLUB, INC. ("SEASHORE") and MAV DISCOVERY BEACH RESORT DEV'T. CORP. ("DISCOVERY RESORTS") headed by their president and chairman of the board Mr. Arnel S. Mindanao are found to be offering and selling club shares to the public without authority and license to do so.
According to their website theseashore.ph, SEASHORE is a membership resort and the certificates issued to members are non-proprietary in nature. The project was allegedly conceptualized by its president Mr. Arnel S. Mindanao, who is a seasoned sales and marketing person having gained more than 20 years of experience in selling various real estate projects in the Philippines in the local market and to foreign nationals.
Purportedly, SEASHORE and DISCOVERY RESORTS are offering their club shares in the amount Php834,900 for their San Juan, Batangas project and Php900,000 (now Php1,035,000) for their Coron, Palawan project which are available in three payment options: Option A) Deferred Payment of 36, 48...
