Wednesday, May 1, 2013

OLD NEWS: TVI Express slapped in Philippines as Possible Securities Fraud

According to ABS-CBN news, TVI Express Holidays Philippines is a potential pyramid scheme, and people should avoided it, as part of Filipino Securities Exchange Commission official warning.

SEC warns of new pyramiding scams

Posted at 03/12/2013 5:37 PM | Updated as of 03/13/2013 9:15 AM
MANILA, Philippines - Fresh from the disastrous results of the Aman Futures scam, the Securities and Exchange Commission (SEC) has again issued an advisory to consumers in Davao and Surigao of two separate potential investment fraud.
SEC chairperson Teresita Herbosa identified these two potential scams as Connectacons Inc. and TVI Express Holidays Phils.
The target company in Tandag City, Surigao del Sur has reportedly been encouraging teachers to invest P16,800 with a promise to "double the money" within 6 months and to get $10,000 for another 6 months.
According to the SEC advisory, those who invested have not received the promised amount and even return of their investment despite repeated demands.

This is back in March. Now with arrest of TVI Express mastermind Tarun Trikha in April, this should be pretty much the end of TVI Express.
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