SEC Facebook

The Commission was made aware of the illegal investment
–
taking activities of
CHING EMPIRETANS
/CHING EMPIRE
,
E
–
AMBAG
and
GEEVER
all of which are
being run and operated by one
Analie Tuyor
a.k.a.
Ericah Cassandrah Lee Ching
.
Based on the information gathered from the said reports, inquiries, and data
from open sources, CHING EMPIRETANS
/CHING EMPIRE
, E
–
AMBAG and GEEVER
are apparently p
ropaga
ting several investment
–
taking schemes which
promise
lucrative returns.
According to the numerous reports, Ms. Analie Tuyor otherwise known as
Ericah Cassandrah Lee Ching has used these platforms in enticing people into
investing their hard earned money in the hopes to garner big profits.
Accord
ing to a Facebook post, Ching Empiretans offers a
scheme where for
P850.00 as entry fee,
a prospective investor receives two (2) bars of soap allegedly
worth P1,000.00 which he/she can resell, including audio books and access to an e
–
commerce website. The
prospective investor also receives a lifetime 50% reseller
discount on products.
In addition to the option to resell the said products, Ching Empiretans also offers
a direct referral bonus of P100.00, a sequence bonus of P1,200.00, Leveling and
Pairing bonus of P400.00 and P200.00, respectively. Ching Empiretans is making it
appear that the possibility of lucrative income is infinite which makes this investment
–
taking scheme very enticing to the investing public.
E
–
Ambag
,
on the other hand
,
off
ers a straightforward 180% profit after 45 days.
The prospective investor may choose to invest a capital from P500.00 up to
P100,000.00 which will allegedly earn a 4% daily profit or a 180% profit after 45 days.
It is notable that E
–
Ambag’s slogan is
“
Mag
–
ambag, M
ag
relax, M
ag
–
encash
”
which directly translates to ‘Contribute, relax, encash’ otherwise known as IWE or
Invest, Wait & Earn. E
–
ambag uses this slogan to entice prospective investors in
earning big profits effortlessly.
GEEVER, on the other ha
nd, offers profits in exchange for ‘donations.’ The
investment
–
taking scheme propagated by GEEVER is in the form of donation but in
reality it really is an investment contract. The prospective investor or ‘donor’ is given a
choice to invest an amount from
P1,000 to P5,000.00 where they are promised 5%
profit per day for 40 days or a total of 200% profit in 40 days. The prospective investors
are further given a chance to earn more profits by direct referral system which offers
a 30% bonus apart from the prom
ise of 200% in 40 days.
Essentially, the income generated from the foregoing compensation plans
depends on the number of referrals and/or membership fees received by the entities.
The investment
–
taking schemes proliferated by Ching Empiretans/Ching E
mpire
, E
–
Ambag and Geever is a Ponzi Scheme where the ‘income’ given to the initial investors
are taken from the subsequent investors. This business model is unsustainable and
will inevitably result in the demise of the business which directly results in t
he prejudice
of the investors.
Applying the
Howey Test
,
1
the investment
–
taking schemes employed by Ching
Empiretans, E
–
Ambag and Geever
are
investment contracts as they involve the
offering and sale of securities to the public where their investors need n
ot exert any
effort other than to invest or place money in its scheme in order to earn profit.
Therefore,
CHING EMPIRETANS
/CHING EMPIRE
, E
–
AMBAG and GEEVER
must be duly registered with the Commission and that any person or entity intending
to offer and sell its investment contract are required to secure the necessary
registration and/or license from the Commission as well.
1
Power Homes Unlimited vs. SEC
(G.R. No. 164182,
February 26, 2008).
However,
CHING EMPIRETANS /CHING E
MPIRE, E
–
AMBAG
and
GEEVER
are
NOT REGISTERED
with the Commission
and
OPERATES WITHOUT THE
NECESSARY LICENSE AND/OR AUTHORITY
to solicit, accept or take
investments/placements from the public nor to issue investment contracts and other
forms of securities
defined under Section 3 of the Securities Regulation Code (SRC)
.
Hence, the public is advised
NOT TO INVEST
or
STOP INVESTING
in any
investment
–
taking scheme offered by
CHING EMPIRETANS /CHING EMPIRE, E
–
AMBAG
and
GEEVER
or such other entities engaged i
n investment
–
taking schemes
without the necessary licenses and/or authority.
Accordingly, the Commission warns all unscrupulous individuals and/or entities
that
strict penalties are imposed for violations of the Securities Regulation Code,
the Revised Cor
poration Code, and such other rules and regulations enforced
by the Commission
.
Those who act as salesmen, brokers, dealers or agents of
such unauthorized
entities like the operators of the
CHING EMPIRETANS /Ching Empire, E
–
Ambag’s
Facebook
Page
and
Geever
’s Facebook group
and
the
websites
www.Chingempiretans.com, E
–
Ambag.com and www.Geever.app
in selling or
convincing people to invest in their investment scheme offered including solicitations
and recruitment through the internet may likewise be criminally
prosecuted and
penalized with a maximum fine of Five Million pesos (P5,000,000.00) or a penalty of
Twenty
–
one (21) years of imprisonment or both pursuant to Sections 28 and 73 of the
SRC.
In the same manner, those who invite or recruit others to join or invest in such
venture or offer investment contracts or securities to the public similar to
ANALIE
TUYOR
who poses as
ERICAH CASSANDRAH LEE CHING
and the operators of the
Ching Empiretans/Ch
ing Empire, E
–
Ambag’s
Facebook Page and Geever’s
Facebook group
and the websites
www.Chingempiretans.com, E
–
Ambag.com and
www.Geever.app
, may incur
criminal
liability, or otherwise be sanctioned or penalized
accordingly as held by the Supreme Court in the case of
SEC vs. Oudine Santos
(G.R.
No. 195542, 19 March 2014).
The names of all those involved will also be reported to the Bureau of Internal
Revenue (BI
R) so that the appropriate penalties and/or taxes be assessed
correspondingly.
Should you have any information regarding any investment solicitation activity
by any individual or group of individuals representing
CHING EMPIRETANS /CHING
EMPIRE, E
–
AMBAG and
GEEVER
, please send your report to the EIPD at
[email protected].
For the guidance of the public.
Pasay City,
01 July 2021