THE Securities and Exchange Commission (SEC) has warned the public against Adscent International, saying it is promoting investment schemes that promise unusually high returns over short periods.
In an advisory, the corporate regulator said Adscent International, using Facebook and agents, is soliciting funds or offering loans with promised returns of 120%, 350% and 300% over seven, 20 and 15 days, depending on the completion of certain tasks. The scheme also offers a 10% bonus for referring others.
“Investors may register through their website… or join Facebook groups managed by team leaders to manage their investments and serve as advisers in future transactions,” the SEC said.
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