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BITEXPRESS SECURITY AND COMMODITY CONTRACTS BROKERAGE
BITEXPRESS SECURITY AND COMMODITY CONTRACTS BROKERAGE or BITEXPRESS is not registered with the Commission either as a corporation or as a partnership

Date Posted: 23 March 2021

BITEXPRESS SECURITY

BITEXPRESS SECURITY

SEC Facebook

Information gathered from online sources and reports from the public show that
BITEXPRESS SECURITY AND COMMODITY CONTRACTS BROKERAGE
or
BITEXPRESS
is claiming to be a legitimate company specializing in Bitcoin trading and
owned by a certain
MELVIN JOHN BALLESTEROS QUINTO
, who claims to be a trader.
BITEXPRESS SECURITY AND COMMODITY CONTRACTS BROKERAGE
or
BITEXPRESS
is providing a Return of In
vestment to its investors at
150% in just 12 days,
300% for 20 days, and 500% for just 30 days
for its Silver, Gold, and Diamond Complans,
respectively.
The public is hereby informed that
BITEXPRESS SECURITY AND COMMODITY
CONTRACTS BROKERAGE
or
BITEXPRESS
is not registered with the Commission
either
as a corporation or as a partnership. However,
BITEXPRESS SECURITY AND
COMMODITY CONTRACTS BROKERAGE
has been issued a Certificate of Business
Name Registration on 05 January 2021 by the Department
of Trade and Industry with
Business Name No. 2388556 under the name of
MELVIN JOHN BALLESTEROS QUINTO
.
Nonetheless,
BITEXPRESS SECURITY AND COMMODITY CONTRACTS BROKERAGE
or
BITEXPRESS
is
not authorized to solicit investments from the public
as it did not
secure prior registration and/or license to solicit investments from the Commission as
prescribed under Section 8 of the Securities and Exchange Commission.
Likewise, its name
DOES NOT APPEAR
among the registered banks, exchanges
or companies engaged i
n digital assets with the Bangko Sentral ng Pilipinas (BSP
) in
accordance with the
GUIDELINES FOR VIRTUAL CURRENCY EXCHANGES
(
BSP
CIRCULAR NO. 944
) which requires all entities engaged in Virtual Currencies in the
Philippines to obtain a Certificate of Regi
stration to operate as remittance and transfer
company pursuant to the BSP rules and regulations.
Further,
BITEXPRESS
SECURITY
AND
COMMODITY
CONTRACTS
BROKERAGE
or
BITEXPRESS
is also
NOT REGISTERED
either as a crowdfunding
intermediary or a funding portal under SEC Memorandum Circular No. 14, Series of 2019
or the
Rules and Regulations Governing Crowdfundin
g.
Those who act as salesmen, brokers, dealers or agents of the said entity in selling
or convincing people to invest
in the investment scheme it is being offered including
soliciting investments or recruiting investors through the internet may be held criminally
liable under Section 28 of the SRC and penalized with a maximum fine of Five Million Pesos
(Php5,000,000.00) o
r imprisonment of Twenty One (21) years or both pursuant to Section
73 of the SRC (
SEC vs. Oudine Santos, G.R. No. 195542, 19 March 2014
).
Furthermore, the names of all those involved will be reported to the Bureau of
Internal Revenue (BIR) so that the ap
propriate penalties and/or taxes be correspondingly
assessed.
In view thereof, the public is hereby advised
NOT TO INVEST
or
STOP
INVESTING
in any investment scheme being offered by any individual or group of persons
allegedly for or on behalf of
BITEXPRESS SECURITY AND COMMODITY CONTRACTS
BROKERAGE
or
BITEXPRESS
and to exercise caution in dealing with any individuals or
group of persons soliciting investments for and on behalf of it.
Should you have any information regarding the operation of the
subject entity,
please submit your report to the Enforcement and Investor Protection Department at
[email protected]
.
For the guidance of the public.
Pasay City, 23 March 2021