SEC warns public against OTCJKE, APower

 SEC warns public against OTCJKE, APower

THE Securities and Exchange Commission (SEC) has warned the public against the illegal solicitation of two investment-taking entities — OTCJKE and APower Power Bank Sharing Solution, OPC (APower).

In an advisory on Wednesday, the SEC said that APower — which also uses the names APower Pro, APower PH and APower Power Bank — has been enticing the public through social media and websites to invest in the company.

Invited investors must first register and choose from 15 advertising charging stations that range from P500 to P1 million. Investors are promised to earn P12.50 to P120,000 daily or P375.12 to P3.6 million monthly.

“Investors can earn 10% from recharge commission and 10% up to 30% from product commission,” the SEC said.

In a separate advisory, the SEC said that OTCJKE, which also operates as OTC Automated Trading Platform and JKE International Ltd., has been representing itself as a high-frequency trading encryption platform.

Investors of OTCJKE are promised 3% to 8% daily earnings, which can supposedly be withdrawn anytime through a cryptocurrency wallet or GCash.

Interested individuals are required to download OTCJKE’s application to register and create an account. They will then be asked to deposit money in US dollars through Binance or GCash.

Once done, investors will be able to start using the company’s mining bot on which their income would depend. Investors can deposit $10 to $2,000 and earn $0.36 to $120 a day. New accounts were also told to receive an extra two dollars after three days.

According to the SEC, although APower is registered as a one-person corporation, it is still not authorized to solicit investments from the public under the Securities and Regulation Code.

Meanwhile, the regulator said OTCJKE is not registered with the commission either as a corporation or a partnership and is also not authorized to solicit investments.

“Hence, the public is advised not to invest or stop investing in any investment scheme being offered by any individual or group of persons allegedly for or on behalf of and to exercise caution in dealing with any individuals or group of persons soliciting investments for and on behalf of it,” the commission said. — Justine Irish D. Tabile