Premium Enterprise was on my assessment listing and just lately got here up.

I’d famous a Philippine SEC securities fraud discover issued in opposition to Premium Enterprise on Could 18th.

Between Could 18th and Premium Enterprise developing for assessment final week, the corporate had pulled its web site.

I reached out to the reader who requested the assessment to allow them to know what had occurred.

By way of that dialog I used to be stunned to be taught Premium Enterprise had merely rebranded as PBX Buying and selling.

As per the Philippine SEC’s Could 18th warning;

Primarily based on the data gathered by the Fee, plenty of people or group of individuals claiming to characterize PREMIUM BUSINESS (identified in social media as “PREMIUM BIZ PH”), headed by Ronald De Leon, are engaging the general public to speculate their cash in mentioned entity.

De Leon is predicated out of the Philippines. Premium Enterprise and now PBX Buying and selling are thus additionally each operated out of the Philippines.

Per data of the Fee, PREMIUM BUSINESS or PREMIUM BIZ PH is NOT registered both as a company or a partnership.

Having no main registration/company franchise, with
extra motive that it’s NOT AUTHORIZED to solicit investments from the general public because it has not secured prior registration and/or license from the Fee as prescribed beneath Sections 8 and 28 of the SRC.

Named Premium Enterprise promoters conspiring to commit securities fraud with De Leon embrace Jerry D. Manabat, Gladys Violago, Kentclay Morales, Daisy Lazy Aureada, Jovan S. Derecho, Thea Pauline Eve R. Salva, Catherine T. Hape and Sunshine Grace F. Mission.

Committing securities fraud within the Philippines runs the danger of a 5 million peso high-quality or twenty-one 12 months jail sentence.

Because of figuring out fraud, the SEC suggested the Philippine public to

NOT TO INVEST or STOP INVESTING in any funding scheme
being provided by any particular person or group of individuals allegedly for or on be half of PREMIUM BUSINESS or PREMIUM BIZ PH
and to train warning in coping with any people or group
of individuals soliciting investments for and on behalf of it.

Quite than cease scamming, De Leon renamed Premium Enterprise to PBX Buying and selling.

The area “pbxtrading.ltd” was privately registered on Could twentieth, 2021, two days after the SEC’s Premium Enterprise fraud warning.

In an try and appear to be it’s not being run by De Leon from the Philippines, PBX Buying and selling represents it’s based mostly out Qatar.

Qatar is without doubt one of the quickest rising economies on the earth and affords quite a few alternatives.

At Qatar Monetary Centre (QFC) , we offer worldwide firms the very best recommendation and a simple begin. With as much as 100% overseas possession, authorized system based mostly on Frequent Regulation, and a aggressive tax surroundings with no foreign money restrictions, a aggressive edge awaits.

This textual content is copied verbatim from the Qatar Monetary Heart web site. It has nothing to do with PBX Buying and selling.

The ruse behind Premium Enterprise was associates investing after which filling in captcha kinds to obtain marketed returns.

The captcha nonsense was meaningless busy physique work. All De Leon was doing was shuffling newly invested funds to pay present traders.

This fraudulent enterprise mannequin has been carried over in PBX Buying and selling:

• Affiliate – make investments $20 and obtain $8 a month
• Supervisor – make investments $50 and obtain $20 a month
• Supervisor – make investments $100 and obtain $40 a month
• Director – make investments $200 and obtain $80 a month
• Govt – make investments $1000 and obtain $400 a month

Residual commissions are paid as a proportion of returns paid, tracked down two ranges of recruitment (unilevel):

• stage 1 (personally recruited associates) – 50%
• stage 2 – 10%

PBX Buying and selling is primarily promoted throughout social media comparable to Fb.

The official PBX Buying and selling Fb group, previously Premium Enterprise LTD, has over 51,000 members.

Round 5000 of which had been added within the final week alone.

Ronald De Leon’s personal Fb profile is stuffed with PBX Buying and selling advertising and marketing spam.

I don’t know the way the inside working of the Philippine SEC works however, not less than on the floor, this appears a slam-dunk case.

Hopefully if Philippine authorities act shortly De Leon and his co-conspirators will see jail time.

Failing which, if 5000 new traders proceed to be added every week at an exponential fee, PBX Buying and selling’s inevitable collapse might be a localized monetary catastrophe.