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

DOH XI hires more nurses, doctors

DAVAO CITY, September 6 (PIA) – The Department of Health XI bared its emergency hiring for nurses and doctors following the need to augment the personnel requirement of COVID19 hospitals from all over the region. The head of the DOH XI Epidemiology and Surveillance Unit Dr. Rachel Pasion, in today’s DOH Virtual Presser reported that in Davao City alone combining both the COVID19 hospitals and the private hospitals have utilized 674 COVID19 beds out of the 830 beds or 79.4 utilization rate. This brings the region’s critical care utilization at a high risk level. The Southern Philippine Medical Center, in the past few days, released an advisory informing the public that it has been experiencing an unusually high volume of patients needing admission for COVID19. As of September 5, the facility has utilized 85 ICU beds out of the 92 total number of beds; utilized 490 ward beds out of 496 total number of beds. In the Province of Davao Oriental which is experiencing a surge in COVID19 ...

DavSur expo features world-class local products, tourist destinations

DAVAO CITY, Sept. 23 (PIA) – The world-class and award winning local products and travel destinations in Davao del Sur are being featured and promoted in the first DavSur Travel and Trade Expo 2021. Despite the pandemic, the virtual edition of the provincial expo has been made possible through the initiatives of the Department of Trade and Industry of Davao del Sur and the Provincial Tourism Development and Promotion Office. DTI-Davao del Sur Provincial Director Maria Victoria Placer explained that the expo highlights the province's globally competitive products as well as the tourism destinations, circuits and activities. Since its launch on Tuesday (Sept. 21), the virtual expo has been staging several a...

Completed projects turned over to far-flung villages in DavSur

DAVAO CITY, Dec. 24 (PIA) – The provincial government of Davao del Sur has intensified its turnover of completed projects to provide convenience to the intended beneficiaries in the far-flung areas in the province. Among the recently turned over was the covered space with stage worth P1,186,886.58 for the Sibulan National High School in the remote barangay of Sibulan in the municipality of Sta. Cruz. An electrification project with 150-watt solar lights was also provided for the benefit of the barangay residents. Governor Marc Cagas turned over the projects to the school teaching personnel represented by Isabelito F. Poncardas and to the barangay council headed by Punong Barangay Danilo Abe. Abe conveyed his gratitude to the governor for the electrification project which would now provide light to the dark portion of the barangay roads. In Bansalan town, Cagas has also turned over a newly improved and rehabilitated gymnasium worth P3 million for the re...

PIA Davao Region

Search This Blog