There is a real Dairy Farmers of America Inc. based in the state of Kansas in the United States but one of the same name operating in the Philippines is a lying, hoodwinking copycat out to defraud unwitting Filipinos of their hard earned money, the Securities and Exchange Commission (SEC) said on Friday.
According to the SEC, the fraudulent Filipino version of the authentic farmer-owned US milk marketing cooperative and dairy processor conducts business by offering victims with investment returns as high as 66 percent.
The authentic and original Dairy Farmers of America uses the website dfamilk.com but the fake and fraudulent Filipino version cloaks its corporate persona with a close resemblance of the original by selling itself at this website dfacow.com.
“This fake and fraudulent Dairy Farmers of America Inc. is not in any way related to, affiliated, or connected with the legitimate Dairy Farmers of America,” the SEC said.
The copycat fraud is actively promoted by the Facebook accounts Mariana Canoy TV, DFA Investments and Mariana Canoy YouTube channel.
“Note that the fraudulent Dairy Farmers of America Inc. has not been issued a primary license to operate as a corporation, one-person corporation, or as a partnership and secondary license to engage in any of the regulated activities by the commission such as engaging in the issuance and offering and selling of securities to the public,” the SEC said.
The fraudsters tell its investors the money is used to buy cattle for milking purposes and the profits promptly returned.
Prospects sign-up at the fraudulent website sent by an upline together with his referral link.
Upon signing, investors recharge or deposit money which are ostensibly invested in a particular farm/cattle project with a guaranteed return as high as 66 percent for investments of only P100 to as high as P10,000.00 in only one up to 30 days.
“To encourage the investors to invest, the fraudulent entity offers a referral commission where the upline shall earn 16 percent equivalent to his direct recruits’ income in the scheme enrolled and for indirect recruit, such upline shall earn an unlimited 6 percent commission. Further, additional bonuses are given based on the number of recruited investors,” the SEC said.
