Why you should stay away from Success 200
By Randell Tiongson on July 23rd, 2015
It almost feels like every week there’s a new scam that the SEC has to warn Filipinos about. Online investment scams are becoming more common these days as more Filipinos log on to the internet and use it in their day-to-day lives.
This week, the SEC issued an advisory warning people against Success200, telling investors to “exercise self-restraint from investing their money into such investment scheme,” which is a nice, polite way of saying “don’t put your money in this scheme.”
What is Success200? The company is essentially a scheme that asks investors to put in anywhere from P1,800 (low-end) to P36,000 (high-end), with a promised return of P10,000 to P200,000 upon payout exit, respectively. That’s a “guaranteed” ROI of 455.56%, which is unrealistically high and should already set off the warning bells in your head.
On their website, Success200 state that they are a “iuly [note: the typo is theirs, not mine – I assume they meant “duly”] registered domestic corporation with the Securities and Exchange Commission with SEC Registration No. CS201509200 issued May 12, 2015.” But just because a company is registered with the SEC, it doesn’t automatically mean they are authorized to take investments from customers. The SEC itself says in the advisory that the company has not obtained permission to solicit investments, as required under Section 8.1 of the Securities Regulation Code.
Because they have no license to take money for investments, you should not give them your money.
In their defense, Success200 state on their site that they are not an investment company; instead, they claim that they are simply in the multi-level marketing industry. But what are they marketing? The product is supposedly “pure agaricus capsules”, but to earn anything from the scheme, each participant HAS to recruit two other people. In addition to that, each person has to put in money.
Of course, some multi-level marketing opportunities can be legitimate. But if it looks like a pyramid scam, well, you know what they say; if it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck. And if the SEC is warning you away from certain investments, then they have good reason to do so.
Don’t lose your money to scams like this. Many victims of scams aren’t rich; they’re regular working-class people who were duped by fraudsters. Just because someone on an internet forum said that they earned money from one of these schemes doesn’t mean it’s reliable. And just because they have one form of SEC registration doesn’t mean they’re actually allowed to take your money as investments.
If you come across an opportunity like Success200 that’s too good to be true, it probably is. Protect yourself by consulting this handy slideshow on how to detect an investment scam, and doing more research on your own, before putting your hard-earned money in anything. And for investments you can make for just P5,000, you can read this MoneyMax.ph article on the topic.
Read the SEC advisory here.
looks like the part owner of success200 mr. ken gomez badiola was connected to the oks global wellness that was busted in 2013. http://monolineupdates.blogspot.com/
Ken’s last name should have been the tip-off of something mendacious.
give a man a fish and he will live for a day…teach a man how to fish and he will live forever. It’s a matter of choice who we listen to. People will always seek for opportunities that they can benefit into. It’s a matter of own’s risk. You keep on telling them. they won’t listen.
Why sec didn’t stop this success 200? Many of my co-employee are member of this, they earn a lot of money every week and they lost eager from work in office. It is clear that it is a pyramid scheme because you got your money 10k from other member fee not in product they shown in public, why SEC didn’t action about this issue?
Definition of the Word Scam
scam
skam/Submit
noun informal
a dishonest scheme; a fraud.
“an insurance scam”
synonyms: fraud, swindle, fraudulent scheme, racket, trick; More
verb
swindle.
“a guy that scams the elderly out of their savings”
synonyms: swindle, cheat, deceive, trick, dupe, hoodwink, double-cross, gull; More
products are not registered to FDA
I think SEC had ample time to verify legality requirement of success200 before its certification. Also, authorities had reviewed the marketing plan of it specially on how commission is being given, doubts may arise and they should have questioned this in the first place. Yes, the company is not into investment scheme, its merely selling a product package from low to high entries. LEGIT MLM would also require invites but I think your comment should say that they are also buyers and not just recruits, infact, they have received worth of their payment. Commission Bonus is not gauranteed, thus, it’s workable base on the marketing plan called split-matrix. This was explained on their website. In the SEC advisory, people are warned not to engage into such investment scheme as they have received reports, however, SEC has to put clarity on the issue because the company is bound to the laws on contract of sales and not just to get money from its client but to deliver the goods being purchased and earning is not a guarantee. The company has the right to terminate any of its members/destributors who are into investment type of recruitment rather than of selling products, hence, the company’s image has been compromised but it does not mean that the company is a scam. Infact, success200 offices are still open and its officers are ready and available to whitstand the issues. Totally different compared on the scams seen on the news today. Thanks!
i think sec is not fair because we purchase products and indorse it to other people.
they said s200 was not a investment company..they are selling products…products that are not FDA registered and the manufucturer of the product was not a pharmaceutical company they are only repackers…better check the its legallity to FDA…and also most of its member was complaining about the shortage of product.
S200 keeps on telling that they have products but based on what they are REALLY doing, they are more on recruitment than selling products. S200 products are mere PALUSOT!
nagbayad ako ng 1,800 sa nagrecruit sakin wala aqng product na natanggap tinulongan ko lang siyang umixit..sa huli akoy nganga…alam kung scam pero nadali pa rin aq…
the products are not registered to FDA
na scam din ako ng success200. madaming namuhunan iilan lang ang nakinabang.
So sad I invested in Success200 and even bought 2 heads. The group that I joined doesn’t even have a physical product. It was explained to me that different groups, different style of marketing daw. I knew from the start that this is some kind of Ponzi scheme because the money that they give you is from the membership of your recruits. It was unfortunate really coz the person who “strongly urged” me to join was my highschool bestfriend. She got the P10k in 2 weeks kasi. And she know I need money for my daughter’s birthday party. I joined in July and my daughter’s birthday is in September. The upline even assured me I will get the money before September. But then bumagal ang turn over. The extra head that I bought was not even placed under me. Anyway, I just let it pass. Maliit na halaga lang kasi compared sa friendship namin na masisira. I knew she felt guilty din naman in a way.
Pano nyo po nasabing scam?ask lang po kse po may nagiinvite skin ngayon na success 200 pa advice lng po
A friend of mine asked me to join this success200 (I’m really not into networking but bcos of trust I did join) 1 account 2 recruits and same thing that your recruit will do daw.. so I did ask some of my friends to join too.. but sadly it’s been almost 4 months pero Hindi pa dn kme nakaka-exit.. ang dali lang explanation nila pero once naka pasok ka na Andami ng dahilan.. una mong mapapansin is ung downline mo Hindi npunta sayo.. the reason is magbe-break daw ang table.. so kahit mag recruit ka, ibang upline ang makaka-exit while you and the other accounts you’ve recruited will be stuck.. tapos ang sasabihin nila sa inyo kelangan mag recruit ng madami para mas mbilis ang exit mo..
edi napala nyo, di nyo naisip na kung legit yan bakit di pinapasok yan ng mga mayayaman at even mga banks or investment firms. bakit sila nag ta tyaga sa stock market kung meron naman palang ganyan.
natural na kung ano anong magagandang sasabihin sa inyo para pa ma invite kau. ung naka exit syempre sasabihin na hindi scam kc naka exit sila. pero ilan sa mga naka exit ang nagpaulit ulit hanggang ngaun.
nainvite po din ako sa success 200. tapos ngayon ininvite ko po yung classmate ko kase nga ssabi ko 1 week lang kikita kana ng 10k pag nakainvite ka ng 2 people. ndi sya naginvite kahit isa. tapos makaraan ng dalawang linggo kinukuha nya sakin ung pinangpayin nya pakisoli daw ung pera nya na 1800 kung ndi ivvoice out nya daw ako ipapahiya at sisiraan nya daw ako sa social media. ADVICE PO PLS.
Pano po magquit o umalis sa networking na to? Kasi sa ngayon hindi na ako mapakali eh parang sinasabi sakin ng konsensya ko na umalis na ako sa networking na to. Ang sabi sakin part time lang daw, pero nung nakajoin na ko parang sinasabi nilang magfull time ka sa trabahong ito. Student lang po kasi ako eh. Oo napansin ko din yung shortage ng product nila and pinapahalagahan nila ang pagrerecruite kesa sa pagbebenta ng products. Hindi ko din mabenta yung products kasi kapag binenta ko sa iba hahanapan ako kung fda approve ba siya. Ayokong gumamit o manloko ng ibang tao para lang yumaman ako. Kahit yung matalik kong kaibigan parang ayaw na din akong pakisamahan simula nung nagjoin ako dito. Help po please kung anong gagawin ko!! 🙁
Madali lang naman malaman kung scam yan or hndi. Tingan lang kung pano kumikita un companya at pano ka kikita sa system nila. Kung panay kita ay dahil sa nagrerecruit ka at pera lang dn ng mga narerecruit un pumapasok na kita, then pyramiding na yun. Kahit pa may product daw kuno sila na nakakagamot ng lahat ng sakit.
Actually ngayn nagiisip ako kung anong maiinvestan na negosyo. Wla na ko masyadong makita sa online regarding sa mga franchise. Although may nakikita ako sa entrepreneur.com at mybenta.com, but would like to research more about this. Advice ko lang sa mga gusto sumali at magrecruit ng success 200, sana makita nyo na pera dn tlga ng mga members ang iikot dyan at kapag wala na clang merecruit, dun maraming hndi makukuha un perang “ininvest” nila.
Anonymous 200 in Eastern Samar, Cebu City.
They are ripping people off and scamming them by indicating they could double your investment in one week. It appears they
have stolen a lot of poor peoples money by making them think they could make a fast peso by deceit. Subject may still be at large and may be named Donna Ann Alburo. Any help locating this individual and accomplices would be greatly appreciated.
Thanks in advance for any help you can provide. This transaction was processed Via LBC on McAuthur Highway Balibago 6 November 2015 at Shoppers Mart. Consignee’s Name Alboro, Donna Ann. Please alert all LBC offices of this Ponzi Scam. Any possible assistance or help tracking down these people would be greatly appreciated.
Thank you very much for your possible help,
Lilian
I join s200 and as i look at their portal and may dalawa ng recruit under my name. and i must say! ni singkong duleng wala pa ko nakukuha sa kanila.. :'( i trust my friend on this kasi sya ngsali sakin dto .. pero after nung masali nya ko dto mahirap na sya macontact.. 🙁 sooo sad na dahil lang dto nasira ang friendship namin .. 🙁
Dto po kmi sa San Jose Antique.Ang nag recruit po sa akin ay si Mike Marcaliñas at ang leader po dto ay si Arlene Villar isa po syang Manager ng Gaisano Mall San Jose Antique.ipinasok ko po 7 member ng pamilya ko.naglabas ako ng 12 thou +.i should have followed my instincts n isa itong scam.maternity benefit ko sa sss ang pinag puhunan ko dto.panu ko po sila mapapanagutan.p.s.pls help
i joined success last aug. 2015…2 un ngrecruit sa akin..i considered them as my friend kc nga highschool classmate q dn sila…up to now wala p dn….mgkaiba sila ng pangako…c friend A after ng payment d q n cn nakita at d na rin ngparamdam….si friend B nman dmi ñ sinasabi kay friend A na kesyo pabaya….bngay p ñ un name ng group nila pra dw updated aq…pati table q upon joining…..pro ngyon d n dn sumasagot sa mga questions q…nakakalungkot lng ng dahil sa pera okey lng masira ang friendship nmin
….okey bngay lng nila ang product pro gang dun lng pla un?
You are wrong Randell about this … Of course, some multi-level marketing opportunities can be legitimate. All multi-level marketing are ponzi schemes, or pyramid schemes. Yes they are legitimate but a legitimate scam. At the end of the day, mlms are pyramid or ponzi schemes. All mlms!