Re: Anyone familiar with Global Money/ECC-Livelihood Social Services, Inc.?
« Reply #4 on: April 17, 2012, 07:10:47 am »
Unfortunately, global money operates illegally in the philippines. The Ceceres lending investors company expired last 2009 and was not renewed by SEC since then because the company wasn't able to meet the requirements and the certification of authority to lend money to the public.
The Global Money Unlimited, Inc and the Global Money Foundation was not also registered sa SEC, there was only a reservation of names which also expired last February 2012. This only mean that there's a deception from thebeginning and that makes it a scam. SCAM is defined as deception or the intent to deceive.
Since its launch in August 2011, the company was not registered in any government bodies even in the city hall of Sta Rosa Laguna and yet they still pursue with it.
Ed Ceceres is now being investigated by Central Bank, SEC, DTI and the BIR. A case was filed against him and there's enough evidence to convict him in violation of the Anti-Money Laundering Act.
Trading of money is illegal in most parts of the world especially in the philippines. And this is what Global Money was doing. This year registered a new name in SEC called ECC-Livelihood Social Services Inc., a non-profit organization that will continue the global money concept unfortunately SEC released another advisory for it and was not sanctioned to operate because of the nature of its business. This is also the reason why the City Hall of Sta Rosa Laguna didn't released their business permits. They violate a lot of laws and operates illegally.
Ed Caceres, the owner, promoter, ceo of this company seems not in the right mind. If he's really serious in what he's saying and doing in helping the poor or the Filipinos, why not do it legally. Why not form a group of legal counsel and accountants and experts to advise him and help him strategize. Make a feasibility studies and make sure all papers, documents and business permits are in order. Normally when doing a business, that is the very first thing you need to do and that is what Ed Cereres didn't do, and now he faces a big scandal and a lot of problems.
The Global Money concept violates a lot of known laws. It disrespects several legal entities and industry. Was he not thinking?
I've watched imbestigador last saturday in gma7, a lot of victims are now coming out filing estafa cases especially the ones enticed to put up 500k, 1 million and 2 million investment for a business centers all over the philippines which counts to about more than 20 already. Starting March 22 Ed Ceceres one by one closed its operations. There are still fanatics doing the recruiting, they were so blinded by the charismatic speech of mr caceres. They believed ed caceres was the victim.
Global Money is a big SCAM, they have no rights to belong with an MLM industry. Operates illegally. Has no business permits. So many loopholes in the marketing system. Most of all its surrounded by scandals, issues and troubles. So why punish yourself and still join a beleaguered and shady company when there's a lot out there that is legal and also promises the same thing.
When there's a smoke ... there's definitely a FIRE! Research furthe and investigate. As much as possible stay away.
Re: Global Money Unlimited Inc, Caress Global Foundation Inc and CACERES LENDING INVE
Originally Posted by reachingout
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