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MANILA - The Securities and Exchange Commission (SEC) has revoked the corporate registration of Wellcons Unlimited Systems Inc. for employing a "double-your-money" scheme to illegally solicit investments from the public. In an order dated July 5, the SEC Enforcement and Investor Protection Department (EIPD) found that Wellcons has been publicly offering and selling securities without the necessary secondary license from the commission. In doing so, Wellcons committed an ultra vires act under Section 44 of Republic Act No. 11232, otherwise known as the Revised Corporation Code of the ...

MANILA - The Securities and Exchange Commission (SEC) has ordered Wellcons Unlimited Systems, Inc. to stop offering investment packages to the public without the necessary license from the Commission. In an order dated June 23, the Commission en banc directed Wellcons to immediately cease and desist from engaging in the unlawful/unauthorized solicitation, offer and/or sale of securities until it has filed the requisite registration statement and secured the necessary approval from the SEC. Wellcons, its president Merarie Pailagao, as well as its officers, operators, administrators, promoters, ...