SEC Warning to the Public Against Onecash Trading

The Commission has received information that individuals or group of persons representing Onecash Trading are enticing the public to invest in said entity. Based on reports received from the public, Onecash Trading claims that it is an online trading that promises return of investment with 200% interest in a span of eight (8) weeks.

In its Facebook Account Onecash Trading is inviting the public to sign up to their website through a sponsored link and deposit an amount of One Thousand Pesos (Php 1,000.00) as enrollment fee. Upon activation thereof, a member may opt to become a Trader with a promise receiving 25% return of investment every Thursday for Eight (8) consecutive weeks without doing anything or to be a Builder wherein a member shall be receiving Fifty Pesos (Php 50.00) per direct and indirect invites up to the 10th level.

The public is hereby warned that such investment schemes whether with the use of money or virtual currencies such as bitcoin, etherium, ripple, dash, litecoin, monero, SIBcoin, mooncoin and many others are considered as securities subject to the regulatory authority of this Commission. The recruitment of investor members under the guise of sponsoring a person into the system is likewise considered a form of investment solicitation or a sale of securities. The offering or sale of securities to the public without
a permit or license from the Commission is a violation of Section 8.1 of the Securities Regulation Code (SRC).

The public is hereby informed that Onecash Trading is not registered with the Commission as corporation or partnership and is not authorized to solicit investments from the public, not having secured prior registration and/or license to solicit investments as prescribed under Section 8 of the Securities Regulation Code (SRC). Those who act as salesmen, brokers, dealers or agents of Onecash Trading in selling or convincing people to invest in the investment scheme being offered by Onecash Trading including solicitations or recruitment through the internet may likewise be prosecuted and held criminally liable under Section 28 of the Securities Regulation Code and penalized with maximum fine of Five Million Pesos (P5,000,000.00) or imprisonment of Twenty One (21) years or both pursuant to Section 73 of the SRC.

Accordingly, those who invite or recruit other people to join or invest in this venture or offer investment contracts or securities to the public may be held criminally liable or accordingly sanctioned or penalized in accordance with the Supreme Court decision in the case of SEC vs. Oudine Santos (G.R. No. 195542, March 19, 2014).

Furthermore, the names of all those involved will be reported to the Bureau of Internal Revenue (BIR) so that the appropriate penalties and/or taxes be correspondingly assessed.

In view thereof, the public is hereby advised to exercise prudence before investing in these kinds of activities and to take the necessary precaution in dealing with Onecash Trading or its representatives.

Should you have any information regarding the operation of the subject entity, please call the Enforcement and Investor Protection Department at telephone numbers 818-6047.

For the guidance of the public.


Related: [List] SEC Warning to the Public Against the Following Entities


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