The Philippines SEC has issued Solmax International and its Igniter 100 Ponzi scheme with a securities fraud warning.
As per the SEC’s ninth February discover;
Bereft of any precise retailable services or products, it’s obvious that the scheme of SOLMAX GLOBAL LIMITED and IGNITER 100 includes the providing and promoting of securities, within the type of funding contracts, to the general public as a result of its buyers needn’t exert any effort aside from to take a position or place monies within the mentioned firm with a view to earn earnings.
SOLMAX GLOBAL LIMITED and IGNITER 100 are NOT REGISTERED with the Fee and are NOT AUTHORIZED to solicit, settle for or take investments/placements from the general public.
That is the equal of a securities fraud warning in different jurisdictions.
Particular person Solmax International scammers recognized by the SEC embrace COO Florian Krueger (proper), Serge Meulenbelt, Abdul Rehman Sandhu (CFO), Steven Lubka, Thelma Dhlovu, Aarron Bates and Asim Mirza (VP of Gross sales).
Solmax International promoters particularly focusing on the Philippines embrace Anna Lisa, Diane Swali, Roberto Dulin, Aizel Alana, Ehmerson Ilagan, Jennifer Plata, Meri Reyes, Elphed Reyes, Stephen Carreon, Renmar Sombilon, Jemar Tarsita, Melchor Parojinog, Reynald Atillo, Fatima Atillo, Marilou van Meeteren, Michelle Canay, Robinson Diaz, Ferzael Ebueng, Susan Borja Ramos and Jimbert Aton.
None of (Solmax International’s) operators, brokers, companions and/or members have applicable registration and/or license to promote such securities to the general public as effectively.
Those that act as salesmen, brokers, sellers or brokers of unauthorized entities in promoting or convincing individuals to spend money on their funding scheme … could likewise be criminally prosecuted and penalized with a most high quality of 5 Million pesos (P5,000,000.00) or a penalty of Twenty-one (21) years of imprisonment or each.
The SEC’s investigation into Solmax International concluded it was a Ponzi scheme.
The general public is warned of such potential “Ponzi Scheme” providing “too good to be true” investments alternatives the place returns to early buyers are prone to be paid out from the investments of latest buyers and never out of the businesses’ earnings.
It should be emphasised that the providing and sale of securities within the type of funding contracts utilizing the “Ponzi Scheme” is fraudulent and unsustainable and is NOT a registrable safety.
The general public is suggested NOT TO INVEST or STOP INVESTING in any scheme provided by SOLMAX GLOBAL LIMITED and IGNITER 100.
BehindMLM reviewed Solmax International in late 2018.
According to the Philippines SEC’s findings, our personal analysis concluded Solmax International was a Ponzi scheme.
Alexa visitors evaluation reveals Solmax International collapsed someday between late 2019 and early 2020.
The rip-off was resurrected in mid 2020, and is at the moment being promoted in Nigeria, Pakistan and Singapore.
Formally Solmax International operates by way of shell corporations arrange within the UK.
Primarily based on our analysis, we consider Solmax International is being run by scammers in or with ties to Pakistan.