The Securities and Exchange Commission has warned the public against investing in Praetorian Group International Trading Inc., which is operating an unauthorized investment program resembling a Ponzi scheme.

The SEC issued the advisory after receiving reports and information that certain individuals have been enticing the public via Facebook to invest in Praetorian, a company offering cryptocurrency and health products.

Praetorian was incorporated on December 9, 2020 by multi-level marketer and registered nurse RV Palafox. Last September 1, Palafox claimed to have stepped down due to client withdrawal issues. A certain Helen Graham reportedly took over.

The company is allegedly located in London with corporate offices in the US, Philippines, Singapore, Estonia, Nigeria and South Africa.

Under Praetorian’s scheme, anyone can invest simply by attending the scheduled Zoom meeting, getting a referral link and teaching members to do the same.

Once registered, the investor is promised to receive passive income of 0.5 to 3% daly or a 15 to 90% return monthly or 1.08% annually.

The investment contract shall expire within 365 days or upon earning 200 percent profit whichever comes first, with an option for renewal.

To earn more, an investor must upgrade his package. Praetorian charges an annual software fee of $19.

Although it is registered as corporation, SEC said Praetorian operates without the necessary license and/or authority in violation of the Securities Regulation Code.
“The public is advised not to invest or stop investing in any scheme offered by [Praetorian] or such other entities engaged in smart contracts and virtual asset trading that are not registered with the Commission and the [Bangko Sentral ng Pilipinas],” the SEC said.

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SEC warns against Praetorian Group Int’l
Source: Filipino Daily Inquirer