The Securities and Exchange Commission (SEC) issued a warning about the investment plan of Paysbook E-Commerce System Co. The SEC warns everyone because of the fact that their actions of soliciting from investors or members are unregistered and unregulated; meaning, there is no security of the investment and such.
However, as per the SEC, Paysbook is registered in their database as providing Information Technology and computer services, not by soliciting investments from potential investors or users.
Arjay Gallenero, the founder of Paysbook E-Commerce System Co., is offering online investments to people who are enticed by the idea of cryptocurrencies. The way of earning is easy that the SEC actually became skeptical of what the idea is. As per the data they’ve gathered, Paysbook operates a site where its members can earn by logging in and back out and by recruiting other individuals to the system.
This is somewhat like pyramiding or earning without doing anything legitimate or real. In addition to that, members can earnevery time they like, share, post, or even comment using their Paysbook accounts.
How do investors or members earn through the Paysbook investment plan?
According to the SEC, they were able to get a detailed process on how people can earn through the promise of Paysbook. It is listed as follows:
1. Firstly, the investor is required to create a Paysbookaccount in their website (https://paysbook.co/auth/register?id=(username of offeror);
2. After creating an account, the investor will be brought to a registration page. This registration page will ask the investor to fill out the required fields and input the following: First Name, Last Name, Username, E-mail Address, Password and Mobile Number
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