SEC: Certain online entities lack permits

Some of the other passive income and incentives the entities were offering included a Casio watch, iPad, gaming laptop, iPhone, 11 and Huawei Y6, a car, SUV and downpayment for a Ford Mustang.

The Securities and Exchange Commission (SEC) has released an advisory warning the public from investing in a group of online entities operated by the same person. The agency said the entities lack the secondary license to solicit investments from the public.

The corporate regulator named the entities as Jethclick, Jethclick International, Jethclick by Jethrho and Jetrhro Corp. All are operated 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,” the SEC said in an advisory.

The SEC said that on its website, Jetrhro Corp. claimed to be a producer of disposable packaging products. It has also claimed to have established a water technology division. This 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.

According to its investigation, the SEC 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, and earn P1,500.

The entities also promise direct referral bonus of P100 per person, among other bonuses, and another P1,500 for clicking the paid ads on its platform for 10 days.

Some of the other passive income and incentives the entities were offering included a Casio watch, iPad, gaming laptop, iPhone 11 and Huawei Y6, a car, SUV and downpayment for a Ford Mustang.

The SEC said individuals acting in behalf of Jethclick and Jethrho to engage the public in its investment scheme may be prosecuted and held criminally liable under the Securities and Regulation Code.

They may be penalized with a maximum fine of P5 million or a penalty of 21 years of imprisonment or both.