State-owned corporate regulator Securities and Exchange Commission (SEC) has issued a warning to the public about fraudulent investment schemes the SEC says are being undertaken by firm Forward Direct Selling Corp.
In an advisory, SEC said Forward Direct Selling Corp. is “inviting people to invest under the same scheme used by One Lightning Corp.,” which earlier was issued a cease-and-desist order from the commission.
“It has come to the attention of the commission that Forward Direct Selling Corp. is being operated by the same people behind One Lightning Corp,” SEC said, adding, “Using a different technology to make it appear that it is engaged in multilevel marketing, Forward Direct Selling Corp. is practically operating the same marketing program as One Lightning.”
SEC said that despite the change in corporate name, Forward Direct Selling’s marketing program