THE Securities and Exchange Commission (SEC) has warned the public against investing in health and wellness products distributor Eagle's One Marketing Corp., saying the company was operating without the required license and offering returns that may violate securities laws.
In a June 15 advisory, the SEC said it had received inquiries, reports and information indicating that Eagle's One was enticing the public to invest through its website and social media platforms by promising high returns under various investment programs.
Prospective investors were encouraged to purchase health and wellness products before becoming eligible to participate in a "lock-in program" offering three-month and six-month investment plans with a guaranteed monthly return of up to 93 percent.
The SEC also said the company invited members to participate in an "Eagle's One Pool Funding Plan," which involved the offer and sale of securities in the form of investment contracts.
Under the Securities Regulation Code, investment contracts offered to the public must first be registered with the SEC and persons engaged in selling or offering such securities are required to obtain the appropriate registration or license.
Although Eagle's One is registered with the SEC as a corporation, the commission said its certificate of incorporation did not authorize it to solicit investments or accept funds from the public.
The commission likewise said Jessie Relox Royo, identified as the company's owner and CEO, had not been issued a certificate of registration as an associated person, compliance officer, securities salesman, certified investment solicitor, or other licensed securities professional.
The regulator warned that individuals acting as salesmen, promoters, recruiters, influencers, endorsers or other representatives of the company in soliciting investments may face criminal liability under the Financial Products and Services Consumer Protection Act and the Securities Regulation Code.
NAZYLEN JOY MABANGLO
