The Securities and Exchange Commission has issued a cease and desist order against EF Easy Franchise Technological Ventures Inc. for illegally soliciting investments from the public without proper authorization. The directive covers the company, its officers and representatives including Jose Anton Ojeda, Charmaine Isabel Lim, Gianpaolo Acosta, Karla Dela Cruz, Angelica Carlos, Rene Ledesma, Jr., Jose P. Magsaysay, Jr., Emerson Tan, Angela Kirsten Villaluz, as well as related entity Sunspark Holdings, Inc., and all parties acting on their behalf.
Investigators found the firm offered investment starter programs and franchise partnership deals, specifically targeting overseas Filipino workers. It promised passive income, profit sharing, high returns and no management responsibilities, claiming the company would run all operations. The SEC ruled these arrangements qualify as unregistered securities, since investors pooled funds in a common enterprise expecting profits generated mainly by the firm’s management efforts, with no required registration or license from the commission.
Under the order, all named parties must immediately stop offering or selling these schemes. They are also barred from moving or disposing of any related assets or funds held in their bank accounts, to preserve resources for affected investors. The SEC warned that continuing operations would put the public at great risk of losing their savings, especially OFWs who invested their hard-earned money based on misleading promises of guaranteed earnings.
