SEC Warning to the Public Against PBB150 Trading

The Commission has received information that individuals or group of persons representing PBB150 Trading are enticing the public to invest in said entity. Based on reports received from the public, PBB150 Trading has a system similar to MLM or networking company, wherein recruited members may invite other persons in order to earn points as well as cash (referral income). PBB150 Trading has no physical products and is engaged in what they called the “4th earning system,” where according to PBB’s CEO, Mr. Leonardo Dano Labastida, members may buy a digital currency called “Kringles,” amounting to Fifty Five pesos (Php 55.00) each (maximum of 20 Kringles per account), with a promise that said amount will become Eighty pesos (Php 80.00) in a span of two (2) weeks.

In its Facebook Account, PBB150 Trading introduced one of its scheme called “Cash Back System,” where part of their marketing plan is to persuade the public to buy their products and/or goods with guaranteed 120% cashback.

The public is hereby informed that PBB150 Trading is not registered with the Commission as a corporation or partnership and is not authorized to solicit investments from the public, not having secured prior registration and/or license to solicit investment as prescribed under Section 8 of the Securities Regulation Code (SRC).

Those who act as salesmen, brokers, dealers or agents of PBB150 Trading in selling or convincing people to invest in the investment scheme being offered by PBB150 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 a maximum fine of Five Million pesos (Php 5,000,000.00) 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 PBB150 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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