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Ang has repeatedly cautioned the public against online ads using his name to promote illegal investment activities
Claim: A joint investment project by the government and San Miguel Corporation (SMC) chairman and CEO Ramon Ang can earn Filipinos up to P175,000 a week.
Rating: FALSE
Why we fact-checked this: As of writing, the Facebook ad posted on April 25 has earned 438 reactions and 15 shares. The Facebook page that posted the ad, “The News Network,” also claims to be the official site for the media company ABS-CBN.
The ad’s caption says, “P175,000 a week with no experience? How 10,000 Filipinos have already skimmed the cream off Ramon Ang’s project — and why are banks against it?” The ad also includes a video of Ang supposedly promoting this investment plan.
The text included in the ad reads, “A government investment platform guarantees an income of P175,000 per week. Invest P15,000 today and receive your first payment into your bank account as early as tomorrow.”
The facts: The alleged investment plan is fake. There are no statements from the official pages of Ang and the SMC website referencing such an investment opportunity. The video is originally from an interview by Ang during the inauguration of SMC’s poultry farm in Hagonoy, Davao del Sur, on October 12, 2023.
In a Facebook post from February 17, Ang cautioned the public to steer clear of fake ads pushing illegal investment plans. Ang was responding to a similar ad for an investment opportunity he supposedly endorses.
Ang said, “Let me be absolutely clear — this is a scam. I have never endorsed, and will never endorse, any investment opportunity online.”
“Do not engage, do not invest, and report these scams when you see them. Stay vigilant, protect yourselves, and share this post to warn others,” he continued.
Investment scams: The Securities and Exchange Commission (SEC) has released a checklist to help the public distinguish between real and fake investment opportunities. The SEC warned the public not to engage in supposed investment plans if the person or company pushing them:
- Are unwilling or hesitant to give any of the information
- Has no SEC registration or appropriate license to engage in activities
- Claims to have a quasi-banking license or SEC-registered securities
- Fails to give information or is not listed on the SEC website
The commission also urged the public to report these scams to the Enforcement and Investor Protection Department through their hotline (02) 584-6337 or to the National Bureau of Investigation for emergencies.
Previous fact-checks: Rappler has previously fact-checked other online scams and fake ads:
– Ramon Franco Verano/Rappler.com
Ramon Franco Verano is a graduate of Rappler’s volunteer program. He is a fourth year History student at the University of Santo Tomas. This fact check was reviewed by a member of Rappler’s research team and a senior editor. Learn more about Rappler’s fact-checking mentorship program here.
Keep us aware of suspicious Facebook pages, groups, accounts, websites, articles, or photos in your network by contacting us at factcheck@rappler.com. Let us battle disinformation one Fact Check at a time.
