BAGUIO CITY – The Securities and Exchange Commission issued and warned the public into investing in a local investment company that was earlier found to be selling unregistered securities to the public over the past several months.
Annie Gonzales-Tesoro, director of the SEC Baguio extension office, confirmed the posting of an advisory on its website dated 26 March 2015 that Satarah Wellness Marketing had been soliciting funds from the public on a promise of interest ranging from 4 percent to as much as 26 percent, depending on market rates.
The company also promises investors with referral rates of 4 percent to 12 percent on the placement fees of new investors.
“We want the public to cooperate with us by visiting our office and providing us with the necessary information and documentary requirements so that we can give them the appropriate advise on their investments,” Tesoro stressed.
Satarah Wellness and affiliates Satarah Wellness International and Satarah Investment Group Inc., according to the SEC, were not authorized to solicit investments from the public since it did not obtain prior registration to secure permit to sell securities from the corporate regulator.
Tesoro disclosed Satarah Investment Group Inc. is a registered as a holding company but it did not apply to sell securities to the public while Satarah Wellness Marketing is registered with the Department of Trade and Industry (DTI).
According to her, the common name that exists in the Satarah companies is a certain Henrich Lau which had already been subjected to background investigation with the Bureau of Immigration and Deportation (BID).
Prior SEC registration of securities is required under the Securities Regulation Code.
“In view thereof, the public is hereby advised to exercise self-restraint from investing their money into such high yield, high risk investment scheme and take the necessary precaution in dealing with the above-named entity,” the SEC said.
The SEC last month warned the public against investing their hard earned money in two companies, namely Emgoldex Philippines and One Lightning Corp., which had been found to be selling unregistered securities.
For any information regarding the operation of the said entity, Tesoro advised the public to call the enforcement and investor protection department of the SEC at telephone numbers 02-584-7187 and 02-584-7652 or the SEC Baguio extension office at telephone numbers 074-442-8170 and 074-442-8171.
AS of presstime, the management of the company is being contacted for their side on the issued raised by the regulating entity against the company’s operation that has reportedly reached the interior parts of the Cordillera.