SEC alerts, warns Bicolanos on group offering cash aid

SEC alerts, warns Bicolanos on group offering cash aid

LEGAZPI CITY – The Securities and Exchange Commission (SEC) Bicol Regional Office (SEC-5) has alerted the public against a group whose members reportedly represent themselves “connections” to the Universal Tribes International Corporation (UTIC).

Glorei Allelu Lindio, SEC-5 spokesperson said they have issued the warning after their office received information that a group of persons have visited some barangays where they invited some residents to join them with a promise of future benefits.

Lindio said SEC records indicate that the UTIC is a registered non-stock corporation with office address at R-5 C Village A, Pook U.P. Campus in Quezon City.

She said the group allegedly claim to represent UTIC and are recruiting individuals to join the company and charging them a membership fee of P150 and promising them P10,000 cash and P10,000 worth of goods plus an additional P1,000 for every young child in the household.

The group reportedly said members will receive the benefits after the President-elect Ferdinand “Bongbong” Marcos, Jr. Assumes office.

A SEC-5 statement said that “while the report received by SEC-Legazpi pertains only to alleged recruitment activities in Legazpi City, we don’t discount the possibility that similar illegal and unauthorized activities, whether perpetrated by the same or different groups, may also be happening in other areas and provinces in the region.”