The government has cautioned the public about Masa Mart Business Center (MMBC), which has been posing as a multilevel marketing program to entice the public into its unauthorized investment schemes.
The Securities and Exchange Commission urged the public to avoid or stop engaging in the investment-taking activities of Masa Mart and its related entities or representatives, as they have yet to file the requisite registration statement nor secure the approval of the corresponding permit to sell for such activities.
Masa Mart was found to be offering a Subscription and Gains Program, under which a member may invest at least P1,250 to P500 million, in exchange for returns of P2,746 to about P11.65 billion depending on the lock-in period. This entails an interest of up to 30 percent per month or up to 2,561.81 percent per year.
The group also offers The MMBC P5,888 Combo Package, where members could invest P5,888 for promised gains of P20,000 after six months; and the Do It Yourself Subscription of 24 months, Roll-over Program, where members could generate an income of P100,000 to P12 million after two years.
Other offers include the United Masa Coin (UMC) or the XUM Coin, which is purportedly a cryptocurrency promoted through a software-controlled app called UmcUSDTBot, as well as a referral program, among others.