SEC flags Elite Alliance entity’s unlicensed investment scheme


THE Securities and Exchange Commission (SEC) has released an advisory against Elite Alliance Vera Trade System OPC for soliciting investments from the public without the required license from the regulator.

Led by a certain Eins Angelo Ruiz Valencia, the entity also goes by EliteAllianceVera Computer Trading, Elite Alliance Vera Trade Ltd., Elite Aliance Vera Trade International, and EAV Trade.

The SEC said Elite Alliance Vera Trade System OPC was registered as a one-person corporation under Company Registration No. 2021070020495-22 on July 22 this year.

However, it is not authorized to solicit investments from the public since it does not have the necessary license as required under the Securities Regulation Code (SRC).

The Valencia-led entity is said to be offering a program that promises 100% returns every 15 days for as low as P500. It also offers a 50% direct referral bonus and a one percent unilevel…

Read full article at