The Securities and Exchange Commission (SEC) has issued cease-and-desist orders against three entities for illegally soliciting investments from the public without proper registration or license.
Covered are G’s Kicks Billard Hall; NShop, M&N Online Shop and NFunds; and AI Quest Trading. Also named are their respective representatives: Gabriel Fernandez Vasallo, Nathalie Jean Bersamina, and Erica Aguilar.
The SEC’s Enforcement and Investor Protection Department ordered these groups and anyone acting on their behalf to immediately stop selling or offering unregistered securities. They must also take down all online presence linked to their investment schemes.
None of the three is registered as a corporation or partnership, so they lack authority to deal in securities.
G’s Kicks used social media to draw investors, promising risk-free returns of 8 percent to 10 percent in 30 days and quick withdrawals.
NShop and related operations continued soliciting investments even after an SEC advisory against them in June. Bersamina promised high returns from claimed business activities and also ran unregistered lending services.
AI Quest invited people to invest in AI-assisted stock trading via three plans from P500 to P1 million, offering returns as high as 30 percent in seven days and up to 150 percent in 30 days.
