31 “Roses 4 U” scammers arrested for soliciting investments online

At least 31 scammers connected to “Roses 4 U” were arrested for soliciting online investments, the Securities and Exchange Commission (SEC) said Thursday.

Based in Cavite and in Pasay City, the scammers were caught in the act of soliciting online investments and apprehended, according to the SEC, saying the company Roses 4 U was not registered to do so.

“‘Roses 4 U’ is a corporation registered with the SEC but without license to offer or sell securities nor registration of the securities being offered or sold,” the commission said.

Agents of Roses 4 U were found soliciting online investments in foreign exchange and commodities trading, bitcoin and other cryptocurrencies, and stocks and indices. Their targets were mostly foreign nationals.

“‘Roses 4 U’ makes it appear to foreign investors that their accounts are existent and active when in fact said accounts were fake and actually being manipulated by ‘Roses 4 U’ officers and agents ...” the SEC said.

Six of the individuals soliciting investments were apprehended in a Roses 4 U office in Cavite. Police operatives also found computers, SIM cards, and assorted documents supposedly used in illegal scheme.

Twenty-five individuals were caught in the Pasay City office where police operatives secured gadgets and other material evidence used by the agents.

“The SEC takes very seriously its mandate to uphold the laws it administers. We will enforce the law against these financial scammers. We will not stop,” said SEC Chairperson Emilio Aquino.

“But we take this opportunity to warn the public against such investment schemes as we advise them to immediately report the same to the SEC and to refrain from investing their money without first checking with the SEC as to the legitimacy of the investment scheme being offered,” he added.

The SEC urged the public to report any information on illegal investment schemes through the SEC office or through phone numbers (02) 818-6337 or (02) 818-6047. —Jon Viktor Cabuenas/VDS, GMA News