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SEC stops AlphanetWorld's illegal investment scheme - Vimarsana News

SEC stops AlphanetWorld's illegal investment scheme

Published: February 24, 2022

MANILA - The Securities and Exchange Commission (SEC) has ordered AlphanetWorld Corporation, which has been doing business under the name NWorld, to stop soliciting investments from the public without the necessary license. In an order issued February 23, the commission en banc directed AlphanetWorld to immediately cease and desist from engaging in the unlawful or unauthorized solicitation, offer and/or sale of securities until the requisite registration statement has been duly filed with and approved by the SEC. "NWorld is unlawfully engaged in the sale and/or offer of unregistered secur...

Source: philippinetimes.com
Related Topics:
Juluis Allanc NolascoExchange CommissionAlphanetworld CorporationSecurities Regulation CodeRepublic ActJuluis AllanManila The Securities And Exchange Commission Sec Has Ordered Alphanetworld CorporationHich Has Been Doing Business Under The Name NworldO Stop Soliciting Investments From The Public Without Necessary License In An Order Issued February 23He Commission En Banc Directed Alphanetworld To Immediately Cease And Desist From Engaging In The Unlawful Or Unauthorized SolicitationFfer And Or Sale Of Securities Until The Requisite Registration Statement Has Been Duly Filed With Approved By Sec Quot Nworld Is Unlawfully Engaged In Offer Unregistered Form Investment Contract Because It No License To Carry Out SameUot It Said While Alphanetworld Isa Duly Registered CorporationT Has Never Secureda Secondary License From The Commission As Issuer Of Securities Or Broker Dealer Nor Registered Any For Public Offering Pursuant To Regulation Code Src Quott He Holds That Act Nworld In Selling Unregistered Operates Asa Fraud WhichF UnrestrainedIll Likely Cause Grave Or Irreparable Injury Prejudice To The Investing PublicUot The Order Read Section 8 Of Republic Act 8799R The SrcRovides That Securities Shall Not Be Sold Or Offered For Sale Distribution Within The PhilippinesIthouta Registration Statement Duly Filed With And Approved By The Sec Alphanetworld President Juluis Allanc Nolasco Its DirectorsNablers And Influencers Were Also Ordered To Cease Their Internet Presence In Connection With Investment Scheme The Sec Directed Company From Transacting Any Business Involving Funds Its Depository Banks TransferringR Conveying Any Related Assets To Ensure The Preservation Of For Benefit Affected Investors It Issued Cease And Desist Order After Finding That Alphanetworld Has Been Selling Or Offering Investment Packages Priced From Php4750 To Php19000 In Exchange For Nworld Products Anda Guaranteed Monthly Return Of Up To Php127000 Business Transactions Are Supposedly Made Through The Company 39s Official Webpage Member Investors Could Also Earn Discounts Of Up To 30 Percent For Every Purchase Nworld ProductsReferral Bonuses