SEC tags Cebu-based beauty and cosmetic firm a Ponzi scheme


A CEBU City-based firm offering beauty, cosmetic, home and personal care has been flagged by the Securities and Exchange Commission (SEC) as an investment scam after it was found to be soliciting investments from the public even without the necessary license and permit.

SCET Colleens Corporation with office address at Unit 2004 Grand Residences, Apitong Street, Cebu City has claimed to have a secondary license, but upon investigation by the SEC Enforcement and Investor Protection Department (EIPD), the document they were using was fake, SEC Cebu extension office officer-in-charge lawyer Alma Marie Estrada-Dalena said quoting the EIPD report.

SCET Colleens offers a number of investment packages and promos ranging from P3,800 to P1.08 million, promising lucrative passive returns of five to eight percent return of investment per month and other bonuses with little or no risk.

“The public is reminded that any offer or promise of…

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