Toga Limited reboots as Eostre Berhad, banned again
Early last year Toga Limited lost its Philippine SEC registration after authorities identified it as an “investment scam”.
Following the regulatory ban, Toga Limited rebranded as Eostre Berhad. This has prompted the SEC to issue a second warning.
The original Toga Limited scheme saw investors invest in TogaChat points (TCs).
TogaChat points assign an internal value to the points, with the scam operating as your typical Ponzi points scheme.
It should be noted that Toga Limited is a Malaysian company. In the Philippines it is marketed as TogaChat Academy.
As part of their rebranding, Toga Limited launched a standalone Eostre Berhad website.
Eostre Berhad pitches “quantum healthcare for the digital age”.
Toga Resonance Technology includes products that produces vibration that can neutralize or shield EMF radiation energy fields in the environment, or the body.
This is a rehash of the “vitamins from your cellphone” rubbish Limbic Arc was pushing a few years ago.
As noted by the Philippine SEC, Eostre Berhad saw Toga Limited introduce
new products namely, ostre Quantum Disc, Eostre Vitality Pendant and Eostre Sanare Mattress and incorporate them to their marketing scheme to lend a semblance of legitimacy to its operations.
In a nutshell you invest in Eostre Berhad Credit (EBC Ponzi points), and the company bundles various garbage because iT cAn’T bE a PoNzI sChEmE iF tHeRe’S pRoDuCtS!
The EBP earned will be deducted from a member’s EBC which can be used to purchase a stock of Toga Limited or can be cashed out immediately.
EBC is converted to EBP points, which is then withdrawn (stealing other people’s money), or converted to the original TC Ponzi points (Toga Limited bagholders steal your money).
It appears that TOGACHAT/EOSTRE BERHAD is engaged in the indirect selling of Toga Limited shares thru conversion of Eostre Berhad Points into Toga Limited shares.
While the distribution is channeled thru conversion, the same still constitutes offering and selling of shares to the public as the essence of the law is to regulate the securities being distributed in the public within the Philippines.
And so we have the same Toga Limited Ponzi scheme operating now with multiple Ponzi points.
The compensation plan of EOSTRE BERHAD is essentially the same as that of Togachat Academy which the Commission found to be an offering of securities in the nature of investment contract, i.e., purchase of packages with corresponding credits (Toga Credits now called Eostre Berhad Credits) with a chance to earn 50% points (Toga Points, now Eostre Berhad Points) upon recruitment of another person – points depends upon the type of package purchased by the recruit – which can be used to either purchase Toga Limited shares or be encashed with further opportunities of earning with pairing and leadership bonuses.
Toga Limited remains banned in the Philippines. The SEC’s new warning clarified that Eostre Berhad (and any other reboots Toga Limited comes up with), are also banned.
EOSTRE BERHAD is not registered with the Commission as a
partnership or as a corporation and is also not authorized to solicit investments from the public.
The good news is website traffic to Toga Limited’s and Esotre Berhad’s websites is dead, meaning the Ponzi reboot is probably on its last legs.