Royal Q securities fraud warning issued in Philippines
Royal Q has received a securities fraud warning from the Philippines.
Following an internal investigation, the Philippine SEC has classified Royal Q’s MLM opportunity as an “investment contract”.
This requires the company to register with financial regulators.
As noted by the SEC in their October 12th notice;
ROYAL Q/ ROYAL Q GLOBAL / ROYAL Q MOBILE APP/ ROYAL QUANTITY INVESTMENT MANAGEMENT CO., LIMITED, is NOT REGISTERED as a corporation or partnership and
OPERATES WITHOUT THE NECESSARY LICENSE AND/OR AUTHORITY to solicit, accept or take investments/placements from the public nor to issue investment contracts and other forms of securities defined under Section 3 of the Securities Regulation Code (SRC).
In other words, Royal Q is committing securities fraud and operating illegally.
The SEC goes on to warn Royal Q “shows indication of a possible Ponzi scheme”.
The offering and selling of securities in the form of investment contracts using the “Ponzi Scheme” which is fraudulent and unsustainable, is NOT a registrable security.
The Commission will not issue a License to Sell Securities to the Public to persons or entities that are engaged in this business or scheme.
This is in line with BehindMLM’s published Royal Q Review from last month.
Securities fraud in the Philippines is a criminal offense.
Promoters of Royal Q in the Philippines face twenty-one years in prison and/or a five million pesos fine (~$98,000 USD).
Royal Q is run by anonymous scammers. Based on Chinese appearing in Royal Q’s website source-code, the Ponzi scheme is believed to have ties to China.
Alexa currently ranks top sources of traffic to Royal Q’s website as Nigeria (15%), Mexico (10%) and India (8%).
I did a job interview in Spain yesterday, turned out to be royalQ…
Thank you for posting this, I don’t want to scam people.