SEC stops MLM firm Mutual Universe Malaybalay Bukidnon

Bukidnon News, Business, Consumer, Controversial, Government, Malaybalay City, Society

A multi-level marketing (MLM) firm in Bukidnon, Mutual Universe, has been ordered to stop business. According to a Sun Star CDO report, the Securities and Exchange Commission (SEC) has ordered Malaybalay City-based MLM company Mutual Universe to stop soliciting investments from the public for suspicion that the company is allegedly engaged in “pyramiding,” or in a Ponzi scheme.

SEC Northern Mindanao regional manager Atty. Renato Egypto said Mutual Universe Corporation is not authorized to solicit investments from the public. Egypto said that Mutual Universe is only authorized to sell food supplements, wellness products, and gold but not receive investments.

mutual universe mlm

Egypto explained that flagged corporations like Mutual Universe Malaybalay do not have secondary licenses from SEC to solicit investments from the public, which carries a requirement for the firms to deposit P50 million as paid-up capital.

Mutual Universe Corporation has been blacklisted by the SEC starting July 28, 2015.

According to Wikipedia, a Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned by the operator.

mutual universe mlmFor their part, Mutual Universe President Rene PaƱares has denied that Mutual Universe Bukidnon is operating a scam. He also said that they have coordinated with SEC to revise their compensation packages.

According to their website, Mutual Universe Malaybalay’s office is located at Western Union – Yap Travel and Booking, corner Grema Subdivision, KRV, Malaybalay City, Bukidnon.

* Photos used in this post are all from the Mutual Universe website – www.mutualuniverse.com – which is still online as of this posting

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One thought on “SEC stops MLM firm Mutual Universe Malaybalay Bukidnon

  • First of all the SEC did not issue MUC a Cease and Desist order which means to stop operating. Secondly, the SEC only issued an “ADVISORY” to the public to be wary in dealing with MUC. Which means they are not telling us we are a scam they are just reminding people to be careful.
    We recently had a conversation with Atty. Egypto last week and so far there are no complaints against MUC.
    To make things clear and for the benefit of all other Corporations issued an advisory by SEC, We were suspected as scam because when a networker invites another networker he/she receives an incentive or referral commission. This type of incentive has been in the market for a very long time. I think even the admin of this website itself knew how network marketing works.
    For information of the readers of this website: MUC is no longer doing business as a Corporation. We shall be resuming our business as soon as our personalized products arrives under the jurisdiction of the Department of Trade and Industry.
    Our Complan is a combination of Binary System and Hybrid Referral Commission System.
    Please visit our office if you would like to know more about us and our marketing system. We pay commission to the members daily!!!

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