High yield investment schemes are a hot topic nowadays in the Philippines. Various entities have successfully enticed not only Filipinos both in the Philippine and abroad but even foreigners to get into these get rich quick scheme which offers rate of returns from 30% per month to as high as 400% per month! This burning issue (which has become a big headache for the Philippine government) is multi-faceted as it has not only legal implications. The problem is multi-faceted as it is also an investment, business, economic and even a theological problem! Why is it a theological problem that needs to be addressed? I will explain this later in part 2. As a pastor, lawyer, businessman and personal finance and investment professional this is my take on this matter. We will tackle the legal perspective first. Republic Act 8799 otherwise known as the “Securities Regulation Code” (SRC) prohibits the sale or distribution of “Securities” in the Philippines without first registering it … [Read more...]