Thu Sep 12 06:35:57 UTC 2024: ## SEC Warns Public Against Fake Investment Scheme and Unauthorized Lending Platform
**Manila, Philippines** – The Securities and Exchange Commission (SEC) has issued a warning against two entities operating illegally: a fake Philippine Investment Funds Association (PIFA) on Facebook and a non-registered lending company operating as CT Loan Cash Loan and Credit Company.
The fake PIFA account, posing as the legitimate association, is offering investment schemes promising guaranteed profits of 250-340% within four days, allegedly by investing in the stock market. The SEC emphasizes that this account is not registered with the Commission and should be avoided.
Additionally, the SEC has advised the public not to engage with CT Loan Cash Loan and Credit Company, which operates through the CT Link webpage. This entity is not registered as a lending company and is therefore unauthorized to operate an online lending platform. This warning follows a report from CT Link Systems, Inc. (CTLSI), a registered company, claiming that the CT Link webpage is misrepresenting itself as being owned and operated by them.
The SEC’s action comes after reports of harassment from debt collectors related to loans taken through the CT Loan Cash Loan and Credit Company app, which was advertised as owned by CTLSI. However, CTLSI has confirmed that they are not involved in lending or online applications and have no connection to the fraudulent company.
The SEC urges the public to be vigilant and to only invest in legitimate companies registered with the Commission. They also encourage individuals to report any suspicious activities to their office.
First Piper 