SEC warns public against ‘Sophia Francisco’ entities

SEC warns public against ‘Sophia Francisco’ entities

THE SECURITIES and Exchange Commission (SEC) warned the public against investing in Sophia Francisco Holding OPC, which is also knowns as Financial Consultancy Services Sophia-Francisco or Sophia Francisco Trading, as it is not authorized to sell securities.

The entity is said to be enticing the public to invest money in the company with a minimal amount of P500 per account. Investors were promised to earn 60% in 20 days or 25% in just 10 days.

The commission also found that a 5% referral fee was promised to those who would be able to entice others to invest. Individuals were asked to register on the entity’s website and deposit money through various modes.

The SEC said that Sophia Francisco Holding OPC allegedly earns through crypto trading “by hitting its monthly win rate of 4% daily, 28% weekly, or 112% monthly.”

“The transactions stated above are considered securities in the form of ‘investment contracts’ which must be registered with the commission,” SEC said.

Although the commission’s records show that Sophia Francisco Holding OPC is registered as a one-person corporation and that Financial Consultancy Services Sophia-Francisco or Sophia Francisco Trading was granted a certificate of business name registration by the Department of Trade and Industry, these entities are not authorized to solicit investments from the public.

“Hence, the public is advised not to invest or stop investing in any investment scheme being offered by any individual or group of persons allegedly for or on behalf of and to exercise caution in dealing with any individuals or group of persons soliciting investment for on and behalf of it,” the commission said. — Justine Irish D. Tabile