THE Securities and Exchange Commission (SEC) is warning the public to exercise caution in dealing with two companies alleged to be running Ponzi schemes.
The commission said it had received information that individuals representing Royal Bull Master Trading International and SPBoss (SPower or Sun Power) were promising high monetary rewards or profits.
Royal Bull Master’s website was said to be offering investors four plans: a “Starter” one worth P500 with a 120-percent return in seven days and “Amateur” plan worth P5,000 to P10,000 with 140-percent returns in 15 days, a “Side Ways” plan worth P25,000 up to P50,000 with a 180-percent return in 30 days and a “Bullish” plan worth P100,000 up to P1 million with a 500-percent return on 90 days.
Investors were also promised 10- to 50-percent direct referral commissions and a 1-percent indirect referral commissions.
Sun Power’s mobile app, meanwhile, was described as offering eight investment plans with returns of P276 up to P32,000 daily or P100,740 up to P11.826 million per year.
The SEC said both companies were operating without the necessary licenses…
