Early final yr Toga Restricted misplaced its Philippine SEC registration after authorities recognized it as an “funding rip-off”.
Following the regulatory ban, Toga Restricted rebranded as Eostre Berhad. This has prompted the SEC to concern a second warning.
The unique Toga Restricted scheme noticed buyers put money into TogaChat factors (TCs).
TogaChat factors assign an inside worth to the factors, with the rip-off working as your typical Ponzi factors scheme.
It needs to be famous that Toga Restricted is a Malaysian firm. Within the Philippines it’s marketed as TogaChat Academy.
As a part of their rebranding, Toga Restricted launched a standalone Eostre Berhad web site.
Eostre Berhad pitches “quantum healthcare for the digital age”.
Toga Resonance Know-how contains merchandise that produces vibration that may neutralize or protect EMF radiation vitality fields within the surroundings, or the physique.
This can be a rehash of the “nutritional vitamins out of your cellphone” garbage Limbic Arc was pushing a number of years in the past.
As famous by the Philippine SEC, Eostre Berhad noticed Toga Restricted introduce
new merchandise specifically, ostre Quantum Disc, Eostre Vitality Pendant and Eostre Sanare Mattress and incorporate them to their advertising scheme to lend a semblance of legitimacy to its operations.
In a nutshell you put money into Eostre Berhad Credit score (EBC Ponzi factors), and the corporate bundles numerous rubbish as a result of iT cAn’T bE a PoNzI sChEmE iF tHeRe’S pRoDuCtS!
The EBP earned might be deducted from a member’s EBC which can be utilized to buy a inventory of Toga Restricted or could be cashed out instantly.
EBC is transformed to EBP factors, which is then withdrawn (stealing different folks’s cash), or transformed to the unique TC Ponzi factors (Toga Restricted bagholders steal your cash).
It seems that TOGACHAT/EOSTRE BERHAD is engaged within the oblique promoting of Toga Restricted shares via conversion of Eostre Berhad Factors into Toga Restricted shares.
Whereas the distribution is channeled via conversion, the identical nonetheless constitutes providing and promoting of shares to the general public because the essence of the legislation is to manage the securities being distributed within the public inside the Philippines.
And so we’ve the identical Toga Restricted Ponzi scheme working now with a number of Ponzi factors.
The compensation plan of EOSTRE BERHAD is basically the identical as that of Togachat Academy which the Fee discovered to be an providing of securities within the nature of funding contract, i.e., buy of packages with corresponding credit (Toga Credit now known as Eostre Berhad Credit) with an opportunity to earn 50% factors (Toga Factors, now Eostre Berhad Factors) upon recruitment of one other individual – factors relies upon upon the kind of package deal bought by the recruit – which can be utilized to both buy Toga Restricted shares or be encashed with additional alternatives of incomes with pairing and management bonuses.
Toga Restricted stays banned within the Philippines. The SEC’s new warning clarified that Eostre Berhad (and some other reboots Toga Restricted comes up with), are additionally banned.
EOSTRE BERHAD will not be registered with the Fee as a
partnership or as a company and can be not licensed to solicit investments from the general public.
The excellent news is web site site visitors to Toga Restricted’s and Esotre Berhad’s web sites is lifeless, that means the Ponzi reboot might be on its final legs.