SEC Identifies GAINEXPRESS as Potential Pyramid Scam
The Securities and Exchange Commission (SEC) has issued a strong advisory to the public, urging them not to invest in any scheme offered by GAINEXPRESS or its representatives.
The SEC has identified GAINEXPRESS as an unauthorized investment scheme, as it has failed to register as a corporation or partnership and has not been issued a secondary license to solicit investments. This unauthorized status makes any investment in GAINEXPRESS a risky endeavour.
The SEC has also identified the GAINEXPRESS investment scheme as a fraudulent Ponzi scheme. Operators of the scheme use money from new investors to pay fake "profits" to earlier ones, a practice that is illegal and unsustainable in the long run.
The individual in charge of GAINEXPRESS is named Geronimo Servande, who was identified as the person directing or controlling the enterprise around August 2025.
Individuals who act as salesmen, promoters, or influencers for GAINEXPRESS may be held criminally liable under the Securities Regulation Code. The public is also urged to immediately cease investing in any GAINEXPRESS scheme.
The minimum investment required is PHP 500, and the promised returns include daily profits of up to 8% and a total of 270% in 24 days. However, these high returns are a red flag that the scheme may be unsustainable and potentially fraudulent.
The SEC has not authorized GAINEXPRESS to solicit investments, and the promised returns are a clear indication of the scheme's unauthorized status. Punishments for these offences include a fine of up to PHP 5 million, imprisonment of up to 21 years, or both.
The SEC's advisory serves as a warning to potential investors to exercise caution and due diligence before engaging in any investment activities. The SEC will report the names of those involved in the GAINEXPRESS scheme to the Bureau of Internal Revenue (BIR) for tax assessment purposes.
Investors are advised to verify the legitimacy of any investment scheme before investing their hard-earned money. The SEC encourages the public to report any suspicious investment activities to the Commission for further investigation.
