MANILA, Philippines—The Securities and Exchange Commission (SEC) has revoked the corporate registration of Bill Ford VIP Trading, an entity that sells piggery investments, citing its practice as an unauthorized investment activity resembling a Ponzi scheme.
BillFord Trading’s investment scheme involved the sale of pigs for P2,500 each, with the promise of this investment growing to P4,375 three months later.
In an order issued on April 14, the SEC Enforcement and Investor Protection Department (EIPD) found the group, headed by a certain Billy Ford Delos Santos Andrada, to have engaged in investment-taking activities by selling or offering securities to the public without a second…
Keep on reading: SEC revokes BillFord registration, finds its pig investment scheme fishy