The Securities and Exchange Commission (SEC) revoked the corporate registration of Silverlion Livestock Trading Corp. after discovering the company is soliciting investments from the public without license.
The SEC’s SEC Enforcement and Investor Protection Department (EIPD) and its Zamboanga Extension Office (ZEO)discovered Silverlion is offering and selling to the public investment packages with guaranteed returns of 35 percent within just 15 days.
“With this, investments ranging from P1,000 to P100,000 could yield returns worth P1,300 to P130,000, respectively,” it said.
The SEC said Silverlion’s scheme involves securities, particularly an investment contract, where a person invests his money in a common enterprise and is led to expect profits primarily from the efforts of others.
“As a form of security, investment contracts must be registered with the SEC before they can be sold or offered within the Philippines,” it said.
