Bilyonaryo - Business

Investor alert: SEC warns against Amazon Philippines, Amazon Bonus

July 17, 2022

Bilyonaryo.com

The Securities and Exchange Commission has warned the public against investing in Amazon Philippines and Amazon.Pro, Amazon80.com which have been operating a Ponzi scheme.

A Ponzi scheme is a non-sustainable business model that involves the collection of money from unsuspecting investors with a promise of high return without any underlying assets.

As posted on its website, investors can choose from any of the three VIP Levels: VIP Level 1 worth P100, VIP Level 2 worth P500 and VIP Level 3 worth P2,000,

Investors can earn five to seven percent commission or bonus. They can also earn through invitation reward amounting to P30,000 to P300,000 depending on the level they avail and how many they invite.

According to the SEC, Amazon80.com, Amazon.Pro, Amazon Philippines and Amazon-Bonus.com are not registered as a corporation or partnership and are operating without the necessary license.

These companies, the SEC said, have no authority to solicit funds from the public nor to issue investment contracts and other forms of securities.

Related News Tags: Amazon Bonus, Amazon Philippines, Ponzi scheme, The Securities and Exchange Commission

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