SEC Flags Three More Entities, Including Morgan Stanley Impostor

The Securities and Exchange Commission (SEC) has issued a warning to the public regarding three entities that have been soliciting investments without the necessary registration.

The SEC has raised concerns about Morgan Stanley Investment Firm, Hope Financial Marketing OPC, and Multi-Asset Solution for engaging in unauthorized investment solicitations. I Photo: Securities and Exchange Commission Philippines

In three separate advisories, the SEC has raised concerns about Morgan Stanley Investment Firm, Hope Financial Marketing OPC, and Multi-Asset Solution for engaging in unauthorized investment solicitations.

Additionally, the SEC has alleged that Morgan Stanley Investment Firm operating under the names Elinyapp, Eliny-Ph.com, and Eliny App appears to be impersonating the American global financial services firm Morgan Stanley.

This entity is offering investments ranging from P500 to P1,500, promising a 50% daily profit, a 10% share from direct referrals, and a minimum salary ranging from P350 to P6,500.

These offerings resemble a Ponzi scheme, where funds from new investors are used to pay "fake profits" to earlier investors, as stated by the regulator.

Furthermore, the SEC has noted that the use of terms like "Philippine financial department" and "Ministry of Finance" in the entity's posts and marketing materials suggests the involvement of foreigners in the scheme.

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