THE Securities and Exchange Commission (SEC) has warned the public against dealing with Aura Financing Corp. in Laoag City and Amari Luxe Aesthetic and Wellness Clinic/CRF Beauty Within Salon and Spa (Cosmolash) in Manila, citing unauthorized lending and investment operations.
Aura Financing, allegedly owned by Arvin Briones Licuan, is not registered or licensed to operate as a lending or financing company, the SEC said.
The firm was said to be offering loans ranging from P6,000 to P20,000 under a “diminishing balance scheme” with six percent monthly interest and requiring weekly contributions of P150.
Aura was also found to be promoting investment packages promising guaranteed monthly returns of six percent for placements of between P10,000 and P100,000.
“These schemes may constitute investment contracts as they involve pooling of funds from the public with expectations of profit derived from the promoters’ efforts,” the SEC said.
Transactions with Aura, whether direct or through representatives, are considered illegal and individuals promoting or recruiting investors may face criminal liability, the regulator said.
Victims or those with information about Aura’s operations were encouraged to report to the SEC Laoag Extension Office or through the SEC iMessage portal.
Meanwhile, Amari Luxe and Cosmolash, operated by Cecil Religion Francisco (Ces Francisco), has been soliciting investments through social media, the SEC said.
The regulator said they promised guaranteed monthly returns of 10-12 percent for investments starting at P50,000 under the Amari Luxe Co-Ownership Program.
The public was advised not to transact with these entities as they are not authorized to solicit investments, the SEC said.
Promoters, recruiters, influencers, or agents involved in these schemes may face fines of up to P5 million, imprisonment of up to 21 years, or both.Information on the operations of Amari Luxe and Cosmolash may be reported to the SEC Enforcement and Investor Protection Department via the iMessage portal or at the SEC headquarters in Makati.
