The Philippine Securities and Exchange Commission cancelled the corporate registration of Ecomamoni Environmental Recyclable Materials Manufacturing, Inc. for soliciting investments from the public without the required SEC licence and for offering securities without prior registration. An order dated 25 February revoked Ecomamoni’s certificate of incorporation for violations of the Revised Corporation Code, the Securities Regulation Code, and the Financial Products and Services Consumer Protection Act. The SEC also directed the company to pay a PHP 1 million fine for offering securities to the public without prior registration and licence, and imposed an additional PHP 1 million in administrative sanctions under the Securities Regulation Code on the company and its incorporators. The SEC found that Ecomamoni promoted “recycling plans” promising profits through daily tasks and a “Longterm Platform” offering rewards for completing plan requirements, and that it continued introducing schemes with participation fees ranging from PHP 600 to PHP 165,000 and daily earnings advertised up to PHP 7,000. The order characterised the operation as a Ponzi scheme and noted that Ecomamoni’s December 2024 corporate registration did not confer authority to solicit investments from the public.
Philippine Securities and Exchange Commission 2025-03-07
Philippine Securities and Exchange Commission revokes Ecomamoni’s registration and imposes PHP 2 million in penalties for unlicensed investment solicitation
The Philippine SEC revoked Ecomamoni Environmental Recyclable Materials Manufacturing, Inc.'s registration for soliciting investments without a license and offering unregistered securities. Ecomamoni was fined PHP 1 million for these violations and an additional PHP 1 million in administrative sanctions. The SEC identified the company's operations as a Ponzi scheme, noting unauthorized investment solicitation despite its corporate registration.