The Securities and Exchange Commission has revoked the registration of Katuwang Poultry Chicken Egg Producing Co. as a partnership, for illegally soliciting investments from the public online.
Katuwang Poultry has been offering investment packages worth at least P50,000, with promised returns of supposedly 48 percent to 120 percent within six months, depending on the amount invested. Katuwang Poultry’s scheme involves securities, particularly an investment contract, whereby a person invests his money in a common enterprise and is led to expect profits primarily from the efforts of others, according to the EIPD.
Katuwang Poultry is a duly registered partnership with the SEC. However, it has never secured a secondary license from the Commission to operate as a broker/dealer of securities, nor is it a registered issuer of any securities.
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