The Securities and Exchange Commission (SEC) has warned the public against AdSent International, saying it is promoting investment schemes that promise unusually high returns in short periods of time.
In an advisory, the corporate regulator said Adsent International, using Facebook and agents, was soliciting funds or offering loans with promised returns of 120%, 350% and 300% in seven, 20 and 15 days, depending on the completion of certain tasks. The scheme also offers a 10% bonus on referring others.
“Investors can register through their website … or join Facebook groups managed by team leaders to manage their investments and serve as advisors in future transactions,” the SEC said.
The regulator noted that AdSent International's social media posts offered three investment schemes with different profit margins linked to different minimum and maximum investment amounts.
The SEC said such arrangements constitute an investment contract, which must be registered and authorized by the Commission under the Securities Regulation Code.
The Code defines an investment contract as a security where money is invested in a common enterprise with expected profits arising primarily from the efforts of others.
Adsent International does not have a license to solicit investments. The SEC said its chief executive officer is not registered as an affiliated person, compliance officer, salesman or certified investment lawyer for any broker-dealer, investment house, underwriter, investment adviser or mutual fund distributor.
The company's website link is unavailable, and there is no other contact information for Adsent International listed publicly. , Alexandria Grace C. Magno