SEC issues cease-and-desist order against LMB Football

DAVAO CITY- The Securities and Exchange Commission (SEC) has issued a cease and desist order to LMB Football which is promoting investment-taking activities with the lure of promising profitable returns.

LMB Football is a reverse betting platform or football score prediction trading it is also known as wrong score prediction platform. The public are enticed to invest a minimum of P300 which will earn 3- 8% interest daily or profit a one-time investment or 90-240% profit in 30 days.

LMB Football is not registered with SEC either as a corporation or partnership which operates an online investment solicitation business. It only represents as a business registered with the Department of Trade and Industry.

Thus SEC has ordered LMB FOOTBALL, and its officers, operators, administrators, promoters, representatives, salesmen, agents, investment team planners, mentors, enables, influencers, assigns, conduit entities, subsidiaries, and any and all persons claiming, acting, and operating for and in their behalf to IMMEDIATELY CEASE AND DESIST from engaging unlawful/unauthorized solicitation, offer and/or sale of securities in the form of investment contracts and/or any other similar of related acts until the requisite registration statement is duly filed and approved by the Commission.

The entity is also ordered to shut down their internet presence relating to the transactions and investment schemes covered by the SEC order.

The Order also prohibits LMB FOOTBALL, its operators, directors, officers, representatives, salesmen, agents and any and all persons claiming and acting for and in their behalf from transacting any business involving the funds in its depository banks and/or in any non-bank financial institution, and from transferring, disposing, or conveying in any manner, any and all assets, properties, real or personal, including bank deposits if any, of which the named persons herein may have interest, claim of participant, whether directly or indirectly, under their custody, to ensure the preservation of assets of the investors. (PIA/RG Alama)

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