SEC flags firm that sells frozen products, solicits investments
DAVAO CITY — Another local company has become a subject of an advisory from the Securities and Exchange Commission (SEC) for luring investors to invest in its frozen products and grow their money even when it does not have any permit for the purpose.
In its March 21 advisory, the SEC Enforcement and Investor Protection Department (EIPD) stated that the Davao Prime Summit Frozen Products Trading “is not authorized to solicit investment from the public” and that it seemed it was employing a “Ponzi-like scheme.”
Based on its Facebook page posts, the entity claims to have permits from both the regional office of the Department of Trade and Industry and the city government, but the SEC…
Keep on reading: SEC flags firm that sells frozen products, solicits investments