The Securities and Exchange Commission (SEC) has warned the public against dealing with Zild Telecommunication Repair Services that it said is targets mostly overseas Filipino workers (OFWs).
According to the SEC, the business—owned by Joan de Jesus Manlapig—is not registered to offer or sell investments. Reports show that Zild has been offering investment packages of up to ₱450,000, promising returns of 30 percent a month in 30 to 45 days.
The SEC said such promises are a clear sign of a fraudulent scheme. It added that even if the company appears to operate a legitimate telecommunications repair business, it does not have authority to solicit investments.
The agency explained that Zild’s offer qualifies as an investment contract, a type of security that must be registered. Individuals selling such investments must also have proper licenses. However, SEC records show that Zild is not registered as a corporation or partnership and has no license to collect investments.
The commission reiterated that offers guaranteeing high returns in a short time are common signs of scams, often using money from new investors to pay earlier ones instead of generating real profits.
The SEC also warned that anyone involved in promoting or recruiting investors for Zild—including agents, endorsers, and influencers—may face criminal charges. Penalties could include fines of up to ₱5 million, imprisonment of up to 21 years, or both.
