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)

Comments

Davao del Sur State College first president formally proclaimed

DIGOS CITY, Mar. 31 (PIA) – Commission on Higher Education (CHED) Commissioner Aldrin A. Darilag has formally proclaimed Dr. Augie E. Fuentes as the first president of the Davao del Sur State College (DSSC) in the investiture rites held recently at the Davao del Sur Coliseum in Digos City. Dr. Fuentes has been appointed as DSSC president in 2020, but her appointment was made formal only last March 17 due to the restrictions caused by the COVID-19 pandemic. The formal proclamation highlighted the institute’s accomplishments ever since they started as a state college, and not anymore as a sister campus of the Southern Philippines Agri-Business and Marine and Aquatic School of Technology (SPAMAST) of Malita in Davao Occidental. “Actually I would say that we are fortunate. Though we are young, though we are still around two-years old from the time we were launched, I say we are fortunate because we did not start from zero. We were a campus of SPAMAST such that there wer...

Pilipinas Shell to build import facility in Sta. Cruz, DavSur

DAVAO CITY, April 22- Petroleum giant Pilipinas Shell Petroleum Corporation will be constructing its Darong Import Facility in Sta. Cruz, Davao del Sur. When completed it will be the third largest import facility in the country after the Shell Import Facility Tabangao in Batangas and the North Mindanao Import Facility in Cagayan de Oro. The Darong Import Facility has a rated capacity of 67-million liters of petroleum products. The import facility will help and promote business continuity and stability in the area by providing needed fuel resources for mobility during storms, floods and other calamities. A groundbreaking ceremony was held in Darong, Sta Cruz on April 22. The event was attended by Engr. Jaime G. Lao, Municipal Mayor of Sta. Cruz, Davao del Sur; DMCI Holdings Inc. President Sid Consunji; Santa Cruz Storage Corporation President Das Consunji Reyes; and Juan Miguel Delgado, COO of Northern Star; Sta Cruz Storage Corporation and Stephen Tion...

LTO to public: Do not patronize colorum vehicles

NABUNTURAN, Davao de Oro (PIA) - An official of the Land Transportation Office enjoined the public for the eradication of colorum vehicles plying the streets in Davao region. During the second episode of Kapihan sa Bagong Pilipinas in Davao City, LTO XI Regional Director Eleanor Calderon urged the public not to patronize colorum vehicles to avoid any road safety risk and to also complement their enforcement operations against these violators. “If we stop patronizing these (colorum vehicles), they will just die a natural death; mawala ra na sila sa kalsad a (they will just vanish in our roads),” Calderon said. The traffic official emphasized that LTO XI has apprehended a total of 115 colorum vehicles from January to April 2024. Calderon also provided tips to identify colorum vehicles. She said that UV express vehicles should have yellow plates; other than that, the public should not board not yellow-plated vehicles whose drivers or operators are offering rides for a fee. “Dapat ...

PIA Davao Region

Search This Blog