MANILA - The Philippine Stock Exchange has warned the public against a scam that was soliciting investments using a letter bearing the old PSE logo.
The PSE said the letter, circulated from late 2017 to early 2018, was making rounds again in social media groups.
The letter invites people to invest in “Starters and Small Business Units” and said an investment of P2,500 would get guaranteed returns of P1,000 per week for four months.
"The unscrupulous individuals behind this scheme claim that the investments will be for Jollibee Shares Pte. Ltd., which is supposedly registered with the Department of Trade and Industry (DTI) under the business name JFC Shares Pte. Ltd," the PSE said.
The PSE said it issued no such letter and that there is no business registered under the name JFC Shares.
The PSE also said it does not solicit investments from individuals.
"We would like to remind the public that all stock market transactions should be coursed through PSE accredited trading participants or stock brokerage firms," it said.