SEC warns public on livestock scams

EDITORIAL

The Securities and Exchange Commission warns the public of the onset of fraudulent schemes offered by various livestock businesses such as the Broilerpreneur Corporation, Super Livestock Holdings Incorporated, and Hybrid Gamefowl Holdings, Incorporated,

Based on information gathered, these entities are enticing the public to invest by purchasing a minimum number of livestock animals with a guaranteed profit of 100% in 60 to 90 days, according to a press dispatch by Helen Veryan C. Valdez of SEC-Baguio.

The Commission has received complaints regarding Hybrid Gamefowl Holdings, Incorporated which offers their investors two texas chicken worth P998 claiming that they will earn P3,000 in 90 days.

Said texas chicken are not actually delivered to the purchaser but instead the entity shall pay the purchaser the agreed amount within a specified date.

These entities, although registered under the Commission, were not issued a secondary license to offer, solicit, sell, or distribute any investments or securities to the public. The investment product should also be registered with the SEC before they can be offered or sold to the public.

Any person who acts as salesman, dealers and agent of these unauthorized investment scams shall be held criminally liable in violation of the Securities Regulation Code (SRC) and penalized with a maximum fine of P5 million or 21 years of imprisonment, or both.

These entities were also found advertising their products through social media which amounts to public offering of securities as defined by the SRC, to which they are not authorized to perform.

The SEC urged the public to be mindful of the entities they invest into and to stop patronizing Broilerpreneur Corporation, which also operates under the name Broiler Entrepreneurship; Super Livestock; and Hybrid Gamefowl Holdings, Incorporated, which was found to be managed by the same group of persons operating Brix Gamefowl Holdings, Incorporated, and Brix Gamefowl Breeding / Brix Ventures Incorporated / AB Eugenio Trading.

The Commission urged the public to report any questionable solicitations or offerings to the nearest SEC office.