11/07/2018
"Urban Hog Raiser" I "Hassle Free Hog Raising"
ALLEGED INVESTMENT SCAM FOUNDER OF DAVAO BASED COMPANY IS NOW OPERATING IN ORMOC CITY
May 29 2019 SEC issues CDO (cease-and-desist order) against Organico Agri-business Ventures Corporation
Link of cease-and-desist order:
http://www.sec.gov.ph/wp-content/uploads/2019/06/2019CDO_OrganicoAgribusinessVenturesCorp.pdf
May 31 2019 SEC revokes registration of Organico Agri-business Corporation. By law, Organico is no longer an existing company due to violations of the Securities Regulation Code.
Link of Revocation Order:
http://www.sec.gov.ph/wp-content/uploads/2019/06/2019Order_OrganicoAgriBusinessVenturesCorp.pdf
October 2018 Update: SEC Advisory is still in full effect, NOT settled!
SEC registration + Business Permit / Mayor´s Permit + BIR cor (12% vat) + consistent pay out = NOT A SEC LICENSE.
To have an idea of what SEC registration versus SEC license means:
https://www.youtube.com/watch?v=RlyrHG3MigI
An alleged investment scam founder of the now defunct, Bitworks Enterprise, a Davao City based company has set up a new investment scheme offer in Ormoc City under OAVC (Organico Agribusiness Ventures Corp). Subsequently, the SEC (Securities and Exchange Commission) has issued a Public Advisory last May of this year about the said founder’s latest investment scheme offer.
***October Update: Also in other key cities Cebu, Bohol, Tacloban, LLC
(Daghan sige ¨E-prove scam ang Organico....gi-daot, etc¨ intawn basaha tarong!)
Meaning: Bitworks--scam l Organico--warning : Same Owner
In light of this story and the government warning, we highly urge everyone to be very careful in transacting with too good to be true investment offers.
****Purpose: To establish History. A very key element in making sound investment choice. See links please---dili ni mugna sa page, gikan ni ug newspapers, public records ug most importantly, own Organico website.
FROM BITWORKS TO ROIAL ENTERPRISES TO ORGANICO
The National Bureau of Investigation in Davao Region (NBI-XI) has filed complaint before the City Prosecution Office against Cerrone Roial G. Posas sometime in July 2016 for allegedly operating a pyramiding scheme along with other other individuals representing six other different Ponzi companies. The companies in question were charged for violation of Article 315 of the Revised Penal Code of the Philippines, otherwise known as large scale syndicated estafa. At the height of the Ponzi investment scheme shuffle in Davao City, even the then acting Mayor Paolo Duterte met with hundreds of victims to dialogue and offer assistance.
***Reference:
https://www.facebook.com/pg/OOTDstories/photos/?tab=album&album_id=1060317014147162
Eleven months after the Davao incident, the Bitworks Enterprise founder set-up a new business under Roial Enterprises, this time in Palompon Leyte, as claimed in the official website of the latest venture. And in August 2017, the said founder set-up Ormoc City based, OAVC (Organico Agribusiness Ventures Corp), known as Organico which solicits investments from any willing individual with no pre-qualification needed but cash investment alone.
An investor must invest at least 10 shares, one (1) share costs Php1,800.00, and for every share an investor gets Php450.00 every 15 days for a total of Php2,700.00 in 3 months. Another investment scheme is the 90-day investment, where for every Php3,600.00 invested, one piglet is raised and so after 3 months, the investor gets his money back with profit for a total of Php7,000.00.
Investments are not limited in their physical Ormoc office and are also typically processed online through email exchanges, bank deposits, and courier service. All transactions are guaranteed through a contract and issuance of Post-dated checks in the amount of the profits plus the original investment.
OAVC (Organico Agribusiness Ventures Corp) has enlisted numerous businesses under its umbrella to show how cash placements from numerous investors is made use of to guarantee funding of the return of investment plus sky-high profits. Aside from original framework of Agriculture based businesses, it has now ventured into other non-Agricultural interests as well, namely restaurant serving organic food, telemarketing, music studio, and construction, among others.
SEC WARNING
***October 2018 Update: SEC Advisory is effective to date and not settled.
SEC registration + Business Permit / Mayor´s Permit + BIR cor (12% vat) + consistent pay out = NOT A SEC LICENSE.
To know more about what an Advisory Issuance means, please see video skip to 4:38:
https://m.youtube.com/watch?v=0d33x7VMv0g
The Securities and Exchange Commission is the agency of the Government of the Philippines responsible for regulating the securities industry in the Philippines. In addition to its regulatory functions, the SEC also maintains the country's company register.
***Updated: Registration already complied but NO LICENSE.
To have an idea of registration versus license means: https://www.youtube.com/watch?v=RlyrHG3MigI
Last May 21, 2018, it has released a Public Advisory about Organico Agribusiness Ventures Corporation (Organico). The advisory says that Organico is not registered with SEC as a corporation or a partnership (all companies have to be registered with SEC). In that sense, Organico should not be using “corporation” in their name. Likewise, the advisory says that Organico is not authorized to solicit, offer and sell investments. To solicit investments, a company should have a secondary license regarding offering investments to the public. Being registered in SEC as a company is one thing, being allowed to offer and sell investments requires a different permit altogether. Another red flag cited by SEC is the guaranteed investment returns offered by Organico.
It has also warned of criminal liability to all individuals who recruit, invite or offer any form of contracts and security under the said main company and any of its affiliated companies. The Advisory stated a maximum fine of Five Million pesos (P5,000,000.00) or penalty of Twenty-One (21) years imprisonment or both pursuant to Section 73 of the SRC.
***FARM UPDATE: Please verify with Ormoc City Health or Barangay Hall of Dolores Ormoc City I DENR-- ask for ECC under Organico for other farm locations nationwide
***Company counter of Buy and Sell so not needing License:
As per RA 8799: "Securities" are shares, participation or interests in a corporation or in a commercial enterprise or profit-making venture and evidenced by a certificate, contract, instruments, whether written or electronic in character. It includes:
(a) Shares of stocks, bonds, debentures, notes evidences of indebtedness, asset-backed securities;
(b) Investment contracts, certificates of interest or participation in a profit sharing agreement, certifies of deposit for a future subscription.
In simple terms, if a PERSON or COMPANY offers to take your money WITH A PROMISE TO PAY RETURNS/ INTEREST, THAT is an INVESTMENT CONTRACT. The PERSON offering must be a LICENSED BROKER/ DEALER IN SECURITIES, and the COMPANY must be a LICENSED INSTITUTION.
For full text on the SEC Public Advisory, kindly click on the link which will direct you to the SEC Official Website:
http://www.sec.gov.ph/wp-content/uploads/2018/05/2018Advisory_OrganicoAgribusinessVenturesCorporation.pdf
***For link acknowledging registration but explicitly stating that there is NO PENDING LICENSE APPLICATION: https://www.facebook.com/SECBEO/photos/a.147606559205150/260644574568014/?type=3&theater
Davao Today Article:
http://davaotoday.com/main/economy/scam-victims-urged-to-sue-fraudulent-companies/
Mindanao Times:
http://mindanaotimes.net/nbi-files-charges-vs-7-in-pyramid-scam/
RMN/DZXL Network Article:
https://rmn.ph/pinag-iingat-securities-and-exchange-commission-nagbabala-laban-sa-isang-investment-scam/
SEC Bulletin for Public Warning:
http://www.sec.gov.ph/public-information-2/investors-education-and-information/advisories-and-notices/
Various screenshots which we choose not to publish but used to establish facts.
***We have uploaded some screenshots for transparency:
https://www.facebook.com/pg/OOTDstories/photos/?tab=album&album_id=1060317014147162
also reviewed the website in question for this article.
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ADDED TEXT: 11:36PM Thank you all for taking notice of this article. In light of the opinions stated in the comment section, please note that our page is doing a FACTUAL REWRITE of all the links duly stated and credited at the bottom of this article. We do not engage in copy pasting articles and sources. As much as possible, we do not publish PERSONAL OPINIONS here as we try our best to make this an information based page. Please visit all the links and read it first as so to verify the information that we shared are all from the sources stated. The tagged investment scam is Bitworks Enterprises. As for Organico, we merely mentioned as per SEC warning that it is a Public Advisory. If you have opinions to express, please do so in a polite manner. Rest assured, if and when SEC will issue a Public Withdrawal of the Advisory for Organico, we will also post it here. Thank you for all your concerns.
12:08AM Reference links:
http://mindanaotimes.net/nbi-files-charges-vs-7-in-pyramid-scam/
http://davaotoday.com/main/economy/scam-victims-urged-to-sue-fraudulent-companies/
https://rmn.ph/pinag-iingat-securities-and-exchange-commission-nagbabala-laban-sa-isang-investment-scam/
http://www.sec.gov.ph/wp-content/uploads/2018/05/2018Advisory_OrganicoAgribusinessVenturesCorporation.pdf
http://pageone.ph/nbi-places-seven-investment-firms-undersurveillance/
5:50AM In spirit of fairness, we have adjusted our title to include the word alleged following a document forwarded to our page. Also, we will be posting all documents forwarded as well as the screenshots we have received that we did not previously include. Again, we reiterate our stand that as a page, we are only sharing information.
Please take note that this is our page. Please manage your expectations. We can only share information to documents we have access to. If you wish to contribute documents and other information, please do so without resulting to bashing, foul words, or grave threats.
***OCTOBER 2018: We are starting a COMMENT POLICY (while Advisory is in full effect) on this thread as our lax in giving freedom to comment has resulted to agents and people connected to this company in question to post multi-million cheques and wads of cash to entice and blatantly recruit in our own page. We do not condone such activity unless government lifts and declares it legal. To all agents, please use your own walls, pages and accounts.
Please be warned that unless the issues are fully settled--SEC License which will also take care of legit farm existence of 1 is 1 ratio investor to hogs, investor capping and owner´s financial capacities to cover what is collected from the investors in the unfortunate event of mismanagement among other very stringent list of requirements---WE WILL NOT TOLERATE FALSE CLAIMS and or misleading comments UNLESS one is willing to be held publicly liable including but not limited to the 21 years in prison and 5 Million Fine SEC is imposing.
To agents, it is highly recommended to please use PM feature when tagged or mentioned. Do not put us in the forced position to correct you in the comment section. Fake accounts are also not allowed to make testimonials or defenses. We will not hesitate to block or ban anyone who do not follow our policy while the SEC Advisory is in full effect. Our page shall remain firm in its stand for the interest of public safety and welfare.
HOW AND WHERE TO VERIFY:
A. License: SEC Enforcement and Investors Protection Department
Phone Number -- 818-5704 I E-mail: http://imessagemo.sec.gov.ph/login.php
[email protected]
--If licensed to accept investment placement
B. Local Government License and Permit Department (local branch)
---Approved Business Line (if authorized to solicit investments/securities)
C. BIR (local branch)
---Approved Business Line (if authorized to solicit investments/securities)
D. NBI l Davao LGU
---Founder History
E. DENR I Ormoc City Health I Barangay Dolores
---For farm existence or hog availability of Ormoc location
Status: 150 heads facility operated June 2018 - Early August 2018, closed
F. DENR
---For other farm location nationwide by ECC (Environmental Compliance Certificate) check I No farm existing as of October 1, 2018
***Reflects all added text as of October 2018. Please read and research, verify on your own. Best, hire a private lawyer to explain for you.
