THE Securities and Exchange Commission (SEC)
has barred Chiyuto Creative
Wealth Documentation Facilitation Services from soliciting
investments from the public
through a double-your-money
In an order issued on
February 1, the Commission
directed Chiyuto, which registered as a sole proprietorship
and later on as a one-person
corporation (OPC), to cease
and desist, under pain of contempt, from selling and/or offering securities in the form of
investment contracts until it
has filed and secured the necessary license.
The SEC further enjoined
Chiyuto and Creative Wealth
OPC from transacting business involving funds in its
depository banks and from
transferring, disposing, or
conveying any related assets
to ensure the preservation of
the assets for the benefit of affected investors.
The order covers Chiyuto’s owner, principal, proprietor and sole stockholder-director-president Patrocenio C.
Chiyuto, Jr., nominee Judy B.
Pajarillo and alternate nominee Felomina L. Andrada.
The order also extends to other officers, representatives,
salesmen, solicitors, agents,
uplines, enablers and influencers, including Maricris Can
Chiyuto, Maria Christina Chiyuto Canobida, Naneth Barruela, Aureliza Apa-Ap, Capiz
Buy and Sell Anything, Kiaka
Avel Cho, and Santiago City
The SEC issued the order
after finding that Chiyuto has
offered investments to the
public with promised returns
of 100% in one day, 30 days
or 45 days, depending on the
outcome of the roulette, without securing a secondary license
Section 8 of Republic Act
No. 8799, or The Securities
Regulation Code (SRC), provides that securities shall not
be sold or offered for sale or
distribution within the Philippines, without a registration
statement duly filed with and
approved by the SEC.
The Commission warned
the public against investing in
Chiyuto and other entities engaged in unauthorized investment-taking activities as early
as August 18, 2020 through
an advisory, as well as through
an investor alert posted on its
official Facebook page on October 23, 2020.