SEC revokes NWorld's registration due to alleged fraud - ABS-CBN News


MANILA - The Securities and Exchange Commission on Thursday said it has canceled the corporate registration of Alphanet World Corp or NWorld due to alleged fraud in obtaining its certificate of incorporation.

In a statement, the SEC said its Registration and Monitoring Department (CRMD) found out that the company provided an invalid Tax Identification Number (TIN) in the Articles of Incorporation it submitted to the Commission.

"[T]he use of an invalid and false TIN on [NWorld's] Articles of Incorporation constitutes fraud in the procurement of the certificate of registration, which is a valid ground for the revocation of the Corporation's Certificate of Incorporation," the order read.

TIN numbers are essential requirement in all applications handled by government agencies, the SEC said. 

The SEC earlier issued a cease and desist order against NWorld for illegal solicitation of investments from the public. The CDO was declared permanent on July 19, it added.

NWorld offers investment packages priced from P4,750 to P19,000 in exchange for NWorld products and a guaranteed monthly return of up to P127,000, as well as other discounts and referral bonuses from recruits. 

 RELATED VIDEO:

SEC revokes NWorld's registration due to alleged fraud - ABS-CBN News

Comments

Post a Comment

Popular posts from this blog

Clinical Predictors for Fatal Pulmonary Embolism in 15 520 Patients With Venous Thromboembolism

Image
inflammation of the lungs caused by bacteria :: Article Creator How Lupus Affects The Lungs And Pulmonary System Inflammation caused by lupus may affect the lungs in many ways, and can involve the membrane lining of the lungs, the lungs themselves, the blood vessels within the lungs, and the diaphragm. Pleuritis The most common way that lupus can affect your lungs is through inflammation of the pleura, the lining that covers the outside of the lungs. The symptom of pleuritis that you may experience is severe, often sharp, stabbing pain in a specific area or areas of your chest. The pain, which is called pleurisy, is made worse when you take a deep breath, cough, sneeze, or laugh. You may also experience shortness of breath. Sometimes an abnormal amount of fluid will build up in the space between your lungs and your chest wall; when it leaks out it is called a pleural effusion. Pain from pleurisy, with or without effusions, is found in 40 to 60 percent o...
Read more

FBS Review 2024: Read Before You Trade | FXEmpire - FX Empire

I checked FBS's trading and non-trading costs and determined that they meet the industry average. The broker offers floating spreads from 0.9 pips and commission-free trading. Deposits and withdrawals are charge-free, but there is a small inactivity fee. The pricing mechanism is suitable for high-frequency trading. FBS's Trading Fees FBS's Spreads I tested FBS's spreads during the most actively traded times – the London open at 8:00 a.m. GMT and just after the U.S. open at 2:45 p.m. GMT. The test was conducted on 27 December 2023. The results are shown in the table below: Broken down by asset class and compared to the broader industry, FBS charges low spreads on FX pairs and share CFDs, low-to-average spreads on commodities, and high spreads on indices. FBS' Swaps A swap fee is a trader's cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a b...
Read more