Securities and Exchange Commission Philippines advised the public NOT TO INVEST or to STOP INVESTING in the investment scheme of KOEN SOLUTIONS OPC. The SEC posted an advisory on September 7, 2022. Based on the information gathered by SEC, KOEN SOLUTIONS OPC claims that it is the “world-leading encrypted financial quantitative service platform.” It is further alleged that the KOEN platform processes massive data through neural network and combines artificial intelligence, blockchain and other high technologies with precise quantitative research and continues to provide global encrypted users create value efficiently. A prospective investor can earn in three (3) ways: be an agent, referral fee, and investment thru KOEN app.
While KOEN SOLUTIONS OPC was registered with the Commission as a one person corporation on 29 July 2022, the SEC stated that it is not authorized to solicit investments from the public, not having secured prior registration and/or license to sell securities or solicit investments as prescribed under Section 8 of the SRC.
According to the advisory, Those who act as salesmen, brokers, dealers or agents of KOEN SOLUTIONS OPC in selling or convincing people to invest in their investment schemes including solicitation or recruitment through the internet may be prosecuted, held criminally liable and penalized with a maximum fine of five million pesos (Php5,000,000.00) or a maximum penalty of twenty-one (21) years of imprisonment or both pursuant to Section 73 of the SRC (SEC vs. Oudine Santos (G.R. No. 195542, 19 March 2014).
Furthermore, the names of all those involved will be reported to the Bureau of Internal Revenue so that the appropriate penalties and/or taxes will be correspondingly assessed.
Editor’s Note: This article by The Mega Maxi is not a financial advise.