SEC: Stay away from ‘Jethro’

The Securities and Exchange Commission (SEC) warned the public from investing in a group of online entities being run by the same person after finding out it does not have the secondary license to solicit investments.

The entities Jethclick, Jethclick International, Jethclick by Jethrho and Jetrhro Corp., are owned by a certain Jethro John Reyes.

“The public is informed that the issuance of a Certificate of Incorporation only grants the said entity juridical personality but does not constitute an authority or license for the corporation to engage in activities that require a secondary license from the SEC such as the issuance, offering and/or selling of securities or to undertake investment taking activities,” a SEC advisory read.

Jetrhro Corp.’s claims in its website as a producer of disposable packaging products establishing a water technology division, is contrary to its primary purpose in its certificate of incorporation issued by the SEC on 29 July 2019, which registered it as engaged in the direct selling of beauty parlor supplies and equipment.

The SEC investigation also noted that part of the Jethclick and Jethrho entities’ scheme is inviting individuals to register an account and “activate” it by buying one whitening soap worth P1,000 with a promise of getting back P1,500.

Direct referral bonus will earn P100 per person, among other bonuses, and another P1,500 which may be attained by clicking the website advertisements for 10 days.

Other passive income and incentives offered were a Casio watch, iPad, gaming laptop, iPhone 11 and Huawei Y6 and cars. The SEC said individuals acting on behalf of Jethclick and Jethrho may be held criminally liable under the Securities and Regulation Code.

They face a maximum fine of P5 million or 21-year imprisonment or both.