The Securities and Exchange Commission (SEC) of the Philippines named three projects, which probably make a fraudulent crypto trade network. The network resembles so called Ponzi schemes, also known as an airplane. It means that investment is evaluated once more people are involved in the cycle. Possible investors should stay away from these projects: Forsage, RCashOnline, The Saint John of Jerusalem Knights of Malta Foundation of the Philippines.
Anyone cooperating with the company, may it be individual traders, brokers or dealers, are endangered by high fines or 21 years of imprisonment. The Securities and Exchange Commission (SEC) has stated that neither Forsage nor RcashOnline have necessary licenses to accept deposits for crypto purchases or other financial assets investment, including ordinary securities.
