Ads Zens alleged pyramiding scam : DTI investigates
The Securities and Exchange Commission (SEC) on Tuesday posted an advisory on Ads Zens Broker, Corporation warning public not to succumb to the investment opportunities the company offers. SEC said that it has received a report that Ads Zens is offering investment opportunities to the public by promising a fixed return for every advertisement viewed at their website (http://www.adszens.org).
Ads Zens Broker, Corporation is SEC-registered as a company engaged in direct marketing and provide on-line marketing and on-line classified ads services. It does not have a secondary license to sell securities.
The public is reminded to be over-cautious or exercise prudence in investing their money in what appears to be a high yield-high risk investment which may turn out to be a fraudulent scheme. Where the scheme involves the sale of securities, please make sure that these securities are registered with the SEC. In this regard, you may inquire with the Corporation and Finance Department of the SEC at telephone numbers 584-61-03 or 584-59-50.
The Commission urges anyone who has knowledge or information about any business transaction involving these securities or investment to report such activity immediately 0 the Commission so that appropriate measures can be taken.
The Department of Trade and Industry is also investigating if Ads Zens works as a pyramiding scam. In an interview with ABS-CBN News, Ads Zens denied the allegations and said they are willing to participate in the investigation.