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ED Targets Dubai Tycoon: Ponzi and Forex Scam Unveiled

PH SEC Alerts on ROLLYX TRADING Unlicensed Investment Scheme

WikiFX

| 2024-03-14

Abstract：Philippine Securities and Exchange Commission issues alert on ROLLYX TRADING's illegal investment schemes. Public warned against unlicensed activities promising high returns without proper registration.

PH SEC Alerts on ROLLYX TRADING Unlicensed Investment Scheme.png

The Philippine Securities and Exchange Commission has declared ROLLYX TRADING/ROLLYX FINANCIAL SERVICES/ROLLYXTRADING.COM, an online platform implicated in illicit investment activities within the Philippines, subject to a warning. Rolly Mendoza, who founded the trading investment platform for individuals, has solicited public funding in violation of the Commission's authorization.

The inquiry began in response to public allegations and questions about the platform's illicit investment operations. The two primary investment packages offered by ROLLYX Trading are the Swift Plan, which demands a minimum investment of Php300.00 to Php4,000.00 and promises a 25% return over six days, and the Regular Plan, which needs a Php5,000.00 to Php20,000.00 investment and promises a 60% profit in 15 days. A 10% referral fee and a daily login incentive of one peso provide the specified items.

According to the PH SEC, these offers fall under its regulatory ambit as investment contracts, necessitating registration and supervision. However, in violation of the Securities Regulation Code, ROLLYX TRADING is not authorized to issue securities or solicit investments and is not registered as a corporation or partnership.

The general public is urged not to participate in any scheme made available by ROLLYX TRADING or any similar organization that does not have the Commission's registration and license. Putting money into unregulated companies exposes investors to possible losses with no way to recover the losses.

Violating the Securities Regulation Code and its ancillary regulations may result in penalties of up to P5,000,000.00, imprisonment of up to P21,000,000.00, or both. Salespeople, brokers, dealers, and agents for such unregistered organizations run the danger of facing criminal charges.

The primary rationales cited by the Commission for emphasizing the critical importance of investing exclusively in companies that issue the necessary licenses and authorizations are investor protection and regulatory compliance.

Disclaimer:

The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

PH SEC Philippines Philippine Securities and Exchange Commission Securities and Exchange Commission Forex news Breaking News Market News Cryptocurrency Crypto Market Forex margin forex market Fraud Alert Scam Alert

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