PSA: This Popular Convenience Store’s Name is Being Used to Unlawfully Solicit Investments

The warning comes after the Securities and Exchange Commission (SEC) released a list of companies engaging in unauthorized solicitation of investments.

With 83,485 stores across 17 different countries, 7-Eleven is one of the most well-known convenience store chains in the world. Unfortunately, there are those who have been using the name for unlawful activities. As a result, the local operator of 7-Eleven has spoken out against them.

Philippine Seven Corp—the official licensee of 7-Eleven in the country—warned against two firms using the 7-Eleven name to solicit investments. The company clarified that it is not affiliated with either “7-Eleven Electronic Commerce Limited” or “7-Eleven Electronic Commerce Limited-Passi Branch.”

The Securities and Exchange Commission (SEC) has also warned the public against dealing with these companies, according to a report

SEC Warns Against Other Companies 

According to the SEC, these two firms are soliciting investments from the public without having the necessary licenses. Aside from the two aforementioned firms, the agency has also warned the public about the following companies:

  • AJC 888 Inc.
  • Better Experience
  • DT Trading Data / Data Technology Trading
  • Hedge Bit Trading Inc. 
  • Kamayo Seafoods Buffet / Kamayo Seafoods Franchising and Co-Ownership Program / Kamayo Food Park Co-Ownership Program
  • New Gen-Z Holdings Marketing Group
  • ZTOCK, which is operated and offered by Wetrade Technologies PTE LTD

Some of these companies are said to be offering investment schemes that resemble Ponzi or pyramid scams—defined as “an investment swindle in which early investors are paid with sums obtained from later ones in order to create the illusion of profitability.”

How to Stay Safe Against Scammers 

Interested investors can easily fall for scams if they are not careful when it comes to dealing with companies. In order to avoid becoming victims of such unlawful acts, investors should always go about their transactions carefully.

Practice due diligence and do careful research on the companies involved in the deal. Check if they are legitimately registered and have the necessary licenses or permits to do business. What’s more, do not hesitate to ask for documents and other necessary paperwork that the law requires to be presented to investors for added security and credibility.

Should a company or a deal seem bogus, untrustworthy, or too good to be true after thorough research, it is best to just drop the deal and look for other investment opportunities. It is always better to be safe than sorry—especially when there are large amounts of money involved.