SEC sounds alarm on fake lenders, investment pitches

The Securities and Exchange Commission (SEC) has cautioned the public against several entities engaged in unlicensed investment solicitation and illegal lending operations, warning that these schemes expose consumers to potential fraud and financial harm.

In an advisory over the weekend, the SEC said Aura Financing Corporation/Aura Finance and Investments had been offering loan programs and investment packages “despite being unregistered as a corporation with the Commission.”

No licenses

The group promised 6 percent monthly returns and imposed lock-in periods — offers the SEC said fall under regulated investment activities requiring proper licenses.

The Commission also flagged the unauthorized investment schemes of Amari Luxe Aesthetic and Wellness Clinic (Amari Luxe Clinic) and CRF Beauty within Salon and Spa (Cosmolash).

Both are owned by Cecil Francisco, who allegedly used social media to entice investors with guaranteed monthly returns of 10 to 12 percent. Amari Luxe Clinic was offering a Co-Ownership Program, while Cosmolash sought partners for a P50,000 investment with a promised P5,000 monthly income for 12 months.

Not licenses to operate lending or financing activities

The SEC further warned against Backoffice Associates Philippines and the “Atome Loan: online lending app,” noting that they are not licensed to operate lending or financing activities. It added that the “Atome Loan: Online lending app” uses the “Atome” trade name and logo without authority, which “could mislead the public that it is affiliated with a legitimate financial service provider.”

The SEC stressed that investment solicitation and lending activities without proper registration violate the Securities Regulation Code and other related laws.

It said it “remains unwavering in its efforts to stamp out illegal investment-taking activities through financial literacy campaigns and advisories to the public.”