The Securities and Exchange Commission of the Philippines issued an advisory on Wednesday to inform the public that Skyline Crypto and Dry Goods Trading is not authorized to solicit investments from the public. The company has been offering investment opportunities online, promising returns of 35% in 15 days and rewards like smartphones and vehicles. Skyline Crypto and Dry Goods Trading is not registered with the Philippine SEC and lacks the necessary licenses to operate, the regulator stressed. The securities watchdog warns that the company’s scheme resembles a Ponzi scheme, which is illegal and fraudulent. The public is advised not to invest and to report any information regarding the company’s operations.
