Royal Q has obtained a securities fraud warning from the Philippines.
Following an inside investigation, the Philippine SEC has categorized Royal Q’s MLM alternative as an “funding contract”.
This requires the corporate to register with monetary regulators.
As famous by the SEC of their October twelfth discover;
ROYAL Q/ ROYAL Q GLOBAL / ROYAL Q MOBILE APP/ ROYAL QUANTITY INVESTMENT MANAGEMENT CO., LIMITED, is NOT REGISTERED as an organization or partnership and
OPERATES WITHOUT THE NECESSARY LICENSE AND/OR AUTHORITY to solicit, settle for or take investments/placements from the general public nor to problem funding contracts and different types of securities outlined beneath Part 3 of the Securities Regulation Code (SRC).
In different phrases, Royal Q is committing securities fraud and working illegally.
The SEC goes on to warn Royal Q “exhibits indication of a attainable Ponzi scheme”.
The providing and promoting of securities within the type of funding contracts utilizing the “Ponzi Scheme” which is fraudulent and unsustainable, is NOT a registrable safety.
The Fee won’t problem a License to Promote Securities to the Public to individuals or entities which can be engaged on this enterprise or scheme.
That is in keeping with BehindMLM’s printed Royal Q Evaluation from final month.
Securities fraud within the Philippines is a prison offense.
Promoters of Royal Q within the Philippines face twenty-one years in jail and/or a 5 million pesos positive (~$98,000 USD).
Royal Q is run by nameless scammers. Primarily based on Chinese language showing in Royal Q’s web site source-code, the Ponzi scheme is believed to have ties to China.
Alexa at present ranks high sources of visitors to Royal Q’s web site as Nigeria (15%), Mexico (10%) and India (8%).