THE Securities and Exchange Commission (SEC) has cautioned the public against investing in CGI Trading as it does not have the necessary license to solicit investments.
In an advisory posted on its website, the corporate regulator flagged CGI/CGI Trading/CGI Trading Company/CGI Philippines as these have solicited investments despite being not registered with the government as a corporation or partnership.
The SEC said the entities are allegedly enticing the public through social media platforms to invest their money with a promise of high monetary rewards or profits.
According to the corporate regulator, the entities are asking investors to trade for a minimum of P400 with a promised 6% profit per trade, or through an invitation for a promise of receiving a daily salary.
The SEC also warned the public that the entity is not related to CGI, Inc., a Canadian multinational consulting and software development company listed at the Toronto Stock Exchange and New York Stock Exchange.
It added that the entities are impersonating CGI Philippines, Inc. (CGI), a domestic corporation duly registered with the government.
“The public is hereby advised to exercise caution in dealing with any individual or group of persons soliciting investments for and on behalf of CGI/CGI Trading/CGI Trading Company/CGI Philippines. The public is further advised not to invest or to stop investing in the investment scheme being offered by the subject entities or its representatives,” the SEC said. — Revin Mikhael D. Ochave