Thursday, March 12, 2015

Investment Scam: SEC Alarms Public of Fraud One Lightning Corp Deals- Modus Exposed!

Mandaluyong, Philippines - On Wednesday, March 11, 2015, the Securities and Exchange Commission (SEC ) released a warning to the public investors to stay away from dealing with One Lightning Corp.

SEC claimed that the said company fall within the parameters of fraudulent transactions and people joining the activities of One Lightning “are at risk of being prosecuted for criminal violation of the Securities Regulation Code.


"One Lightning Corp. has not been issued by this Commission a secondary license to publicly offer or sell securities and to solicit investments from the public," according to a March 10 advisory on the SEC website.
Modus Operandi

According to SEC advisory, One Lightning invites people to invest in its cosmetics and healthcare products with the promise of huge returns on investments through what it claims is a revolutionary compensation plan for distributors under a 70 percent profit-sharing scheme in favor of investors.
"Based on investigations conducted, the said Company undertakes to give referral awards for sponsoring new investors and maturity awards when those investors in turn are able to recruit new investors or when their accounts mature," the SEC noted.

This was the exact strategy used by One Lightning to attract investors, according to a victim of the investment scam, who asked not to be named as she is in the process of trying to recover money as promised by the company.

 Pyramiding Scheme

According to GMA News online report, one of the victim’s spouse narrated that they One Lightning after being lured by recruiters with expensive cars to invest up to P380,000 at the start.
The initial investment ballooned to nearly P500,000 even without selling products simply by recruiting other potential investors.

"In one month, the invested money grew to P1.1 million, as posted in the online account with One Lightning, but we cannot withdraw it," the victim said.

However, after news of the scam started leaking into the media, the victim said she and her husband could no longer access their online account. Neither were they able to contact officials of One Lightning.

 In a Facebook statement, One Lightning said that it is taking legal steps regarding the issue.


Sources: SEC Advisory | GMA News

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