Warning: GLOBAL FORTUNE TRADE Operating Without Necessary License, Soliciting Investments

The public is hereby cautioned against investing in GLOBAL FORTUNE TRADE, an organization not legally authorized to solicit investments from the public. This crucial advisory is triggered by reports and information accumulated by the Commission, revealing how individuals and groups, led by Brennan Veloso Joves, are enticing public investment in GLOBAL FORTUNE TRADE primarily via social media platforms.

The Internet and social media platforms have provided limitless opportunities for all, including illicit activities. Unfortunately, the veil of legitimacy often hides fraudulent intentions. One such case is the investment scheme by GLOBAL FORTUNE TRADE. The organization lures investors on its website, offering five different investment plans with investments ranging from Php500.00 to Php5,000,000.00. They entice potential investors with promises of a hefty 10% monthly returns or a whopping 140% to 200% lock-in period for one year, plus a bonus of 5% earnings from direct referrals. The company purports to profit from forex and cryptocurrency trading and has plans to expand into casino junket operations.

An “investment contract,” which is a security, occurs when an investment or money placed in a common enterprise is made with the reasonable expectation of profits from the efforts of others. This is the very scheme GLOBAL FORTUNE TRADE is allegedly executing. The Securities Regulation Code (SRC) and the Financial Products and Services Consumer Protection Act (FCPA) stipulates that any offer and/or sale of securities must be registered with the Commission, and the concerned entity must possess the appropriate license to sell such securities to the public. Furthermore, the FCPA explicitly prohibits any deceptive solicitation of public investments, including Ponzi schemes.

As per the Commission's database, GLOBAL FORTUNE TRADE is neither registered as a corporation nor a partnership, and it operates without the necessary license or authority to solicit, accept, or take public investments, or to issue investment contracts or other securities, as defined under Section 3 of the SRC. Additionally, the scheme employed by GLOBAL FORTUNE TRADE exhibits characteristics of a “Ponzi scheme”, wherein funds from new investors are used to pay “fake profits” to earlier investors.

Such schemes are designed primarily to favor the top recruiters and early risk-takers, to the detriment of later members when new investors are scarce. A Ponzi scheme is fraudulent, unsustainable, and unregistrable as a security. The Commission will not issue a license to sell securities to the public to individuals or entities engaged in this business model.

The public is, therefore, advised not to invest or stop investing in the investment scheme offered by Global Fortune Trade and Brenan Veloso Joves, or any other entities operating similar schemes. Extreme caution should be exercised when dealing with individuals or groups soliciting investments or recruiting investors on behalf of Global Fortune Trade.

Furthermore, any persons acting as salesmen, brokers, dealers, agents, representatives, promoters, uplines, recruiters, influencers, endorsers, or enablers of GLOBAL FORTUNE TRADE or Brennan Veloso Joves, selling or convincing people to invest in this scheme, including soliciting investments or recruiting investors online, may be held criminally liable under Section 11 of the FCPA and Section 28 of the SRC. Both offenses carry a maximum fine of Five Million Pesos (Php5,000,000.00) or imprisonment of twenty-one (21) years, or both, as per Section 73 of the SRC.

Finally, the names of all involved parties will be reported to the Bureau of Internal Revenue (BIR) for appropriate penalties and/or taxes assessment.

In the age of digitalization, it's increasingly crucial to stay vigilant against potential investment scams. We encourage everyone to stay informed and updated on the latest financial news and market trends. A good way to stay updated is to download and install the WikiFX App on your smartphone. The app provides comprehensive coverage of global finance and offers insights into market trends, helping you make informed decisions about where and how to invest your money. You can download the App here: https://www.wikifx.com/en/download.html

Global Fortune Trade's case is a timely reminder for all potential investors. Remember, when an offer seems too good to be true, it often is. Legitimate investments rarely offer quick returns and always come with some level of risk. It's crucial to thoroughly research any investment opportunities and the credentials of the people offering them before parting with your hard-earned money.

Consider seeking advice from financial advisors registered with recognized financial institutions. These professionals can provide valuable insights and advice based on your financial goals and risk tolerance. They can also guide you away from potentially fraudulent schemes.

The case of Global Fortune Trade and Brennan Veloso Joves is under investigation. Anyone with relevant information about their operations or who has been a victim of their scheme is urged to come forward and contact the authorities. This will help in the ongoing investigation and might prevent more people from falling into the trap.

In conclusion, while investing can indeed be a lucrative way of growing your wealth, it must be done wisely and cautiously. Always verify the legitimacy of the investment and the organization behind it. With the rise of digital platforms, scams have become increasingly sophisticated and harder to detect. Stay vigilant, stay informed, and remember that knowledge is your best defense against investment fraud.