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SEC Releases Official Advisory on Teachers Financial Coaching Program (TFCP)

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The Securities and Exchange Commission (SEC) warned the public against several groups that have been luring public school teachers to invest in exchange for unrealistically high returns.

In an advisory posted on its website, the Commission said TEACHERS FINANCIAL COACHING PROGRAM (TFCP)/TEACHERS FINANCIAL FREEDOM PROGRAM (TFFP)/ELITE TEACHERS FINANCIAL PROGRAM (ETFP)/TEACHERS FINANCIAL PROGRAM (TFP) is neither recognized by the SEC as a corporation or partnership nor is it authorized to solicit investments from the public.

The group has reportedly been enticing public school teachers to invest and promises a debt-free life, double net pay, owning a car, travel with family and savings in the bank.

For instance, an investor will get Php 11,000.00 worth of Royale beauty products/food supplements and a cheque amounting to Php 10,500.00 back after investing Php 115,000.00. The investor will be required to recruit new members so he or she can receive Php 11,000 for each recruit.

SEC warned the public against participating in investment solicitations from individuals representing Teachers Financial Coaching Program (TFCP)/Teachers Financial Freedom Program (TFFP)/Elite Teachers Financial Program (ETFP)/Teachers Financial Program (TFP).

“Those who act as salesmen, brokers, dealers, or agents of TEACHERS FINANCIAL COACHING PROGRAM (TFCP)/TEACHERS FINANCIAL FREEDOM PROGRAM (TFFP)/ELITE TEACHERS FINANCIAL PROGRAM (ETFP)/TEACHERS FINANCIAL PROGRAM (TFP) in selling or convincing people to invest in the investment scheme being offered by it including doing solicitations or recruitment through the internet may likewise be prosecuted and held criminally liable under Section 28 of the SRC and penalized with a maximum fine of FIVE MILLION PESOS (P5,000,000.00) or a maximum penalty of TWENTY ONE (21) years imprisonment or BOTH pursuant to Section 73 of the SRC (SEC vs. Oudine Santos , G. R. No. 195542, 19 March 2014).”

SEC ADVISORIES [1]

Individuals who recruit others to invest in the venture or offer contracts or securities to the public may also be held criminally liable.

Names of all involved will also be reported to the Bureau of Internal Revenue to assess appropriate penalties or taxes.

Should you have any information about the business operations of TEACHERS FINANCIAL COACHING PROGRAM (TFCP)/TEACHERS FINANCIAL FREEDOM PROGRAM (TFFP)/ELITE TEACHERS FINANCIAL PROGRAM (ETFP)/TEACHERS FINANCIAL PROGRAM (TFP), please call the Enforcement and Investor Protection Department at telephone numbers 8818-6047 or email at [email protected]

SEC ADVISORY ON TEACHERS FINANCIAL COACHING PROGRAM (TFCP)

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