The Aboitiz Group has warned the public about an online investment scam using its old company name, Cebu Pan Asian Holdings Corporation.
The listed firm said scammers from an e-commerce company are using Cebu Pan Asian Holdings to dupe potential investors into shelling out money in exchange for “free” investments.
The investor will then be required to make additional cash outs before they can withdraw their money.
“The public is advised that, while Cebu Pan Asian Holdings Corporation with SEC Registration No.
CE02536 is the FORMER corporate name of Aboitiz Equity Ventures Inc (AEV), AEV is not in any way involved in the above scheme and the scammers are not in any way related to the Aboitiz Group,” the listed firm said.
Shares in Aboitiz firms can only be bought via legitimate stock brokers using the PSE trading platform, the company said.
“AEV does not provide ‘free’ investments, nor does it solicit investments for any online shopping platform,” it added.
The Aboitiz Group urged the public to conduct due diligence before investing their money.
If the promise is too good to be true, it probably is.