Klikmart Scam Alert

They grow like mad since a few month. We talk about the shady investment companies promising to get rich with insane return of investments like 33% within 21 days.. One of the latest operating in Negros is the Klikmart Scam. While everybody with a little bit common sense will see that this can not see, it is the desperation driving people into this “game” which they can not win.

The Securities and Exchange Commission (SEC) warned Negrenses against Klikmart Shopping Club or Klikmart Rewards for soliciting investment from the public. In a report from National Bureau of Investigation,  Klikmart is now operating within Negros Oriental and allegedly solicits investments from the public with the promise of a large pay-out but without the necessary permit from SEC.

Director Atty. Lindeza Gavino of SEC Cebu extension office said Klikmart is not authorized to take investment from the public as it did not secure the necessary permit from SEC as required under Section 8 of the Securities Regulation Code.

In an advisory, Atty. Gavino said Klikmart is operating a marketing plan which promises that a member will earn 33 percent interest after a minimum period of 21 days to a maximum period one month.  Part of SEC’s verification: “that for a minimum amount of P1,500 daily, the investor will earn P500. The maximum investment is P15,000 daily. The investor has the option to withdraw his investment plus interest or roll-over his money upon maturity.” Atty. Gavino said that “based on its articles of incorporation, it was formed for the purpose of operating the business of marketing and distribution of goods such as  but not limited to soap and perfumes, wares, merchandise of every kind and description in wholesale and retail basis.” Gavino stressed that it is apparent that the purpose does not include the undertaking of investment-taking activities.

The SEC official said those who invite or recruit other people to join or invest in this venture or offer investment contracts or securities to the public may be held criminally liable and accordingly sanctioned or penalized.

source PIA.ph

While this is only one company, there are often the same heads behind the hundreds of new “investment opportunities”, which heave naive investors spending and losing their last few pesos.

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Wustin Dy

Wustin Dy

Wustin had a passion for writing since he was a child. Set back by being tied to a wheelchair and the situations in schools back then, he studied at home and read what he could get between his fingers. When finally after many years the world wide web was accessible for him, he managed to achieve several online degrees. Today Wustin writes for different magazines, his own blog and other publications.

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