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Wednesday, Jun 04, 2025
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SEC Issues Warning on Alleged Scam Investment Firm in Cebu City
BMJ Data Processing Services flagged for unauthorized investment solicitation
The Securities and Exchange Commission-Cebu Extension Office (SEC-Cebeo) has issued a warning regarding BMJ Data Processing Services, a firm alleged to be conducting unauthorized investment activities in Barangay Kasambagan, Cebu City.
The SEC has clarified that the company is not registered with the Commission and thus lacks the authority to solicit investments from the public as mandated by Section 8 of the Securities Regulation Code (SRC).
While BMJ Data Processing Services holds a registration with the Department of Trade and Industry (DTI) under BNN/Cert.
No. 1839654, this registration does not grant it permission to offer or seek investments from the public.
The registered owner, Mr. Antonio Seno Jacalan Jr., has been identified in relation to the firm's operations.
The firm's alleged activities were exposed by a hacker associated with the YouTube channel “mrwn,” who revealed that individuals presumed to be call center agents for BMJ Data Processing Services were soliciting investments.
This exposé has prompted an investigation by the authorities.
SEC-Cebeo noted that the company operates out of The Gallery in Cebu City and has reportedly changed its office location frequently to avoid detection by regulatory bodies.
On May 20, authorities, including the Business Permit and Licensing Office, executed a temporary closure of BMJ Data Processing Services.
According to reports, individuals associated with the firm were presenting themselves as financial representatives of a platform called “Virtual Wealth Exchange.” The video evidence provided by mrwn categorized the platform as targeting international investors, specifically in countries such as Canada and the United Kingdom, describing it as an investing platform designed for the trading and management of various financial assets online.
The platform has been characterized in the exposé as a fraudulent entity.
Victims of the scheme reportedly lured into investing with promises of quick profits from Bitcoin trading through a system referred to as “Quantum AI.” Investors were purportedly encouraged to commit at least $250 with the assurance of high returns, complimentary mentorship, and rapid withdrawal processes.
The agents allegedly employed high-pressure sales tactics and utilized emotional manipulation to garner trust, making false claims regarding licensing particularly aimed at investors in Africa.
SEC-Cebeo emphasized that BMJ Data Processing Services' lack of registration with the SEC makes it unauthorized to solicit investments from the public, as outlined in the SRC.
The commission also issued a broader advisory to the public to remain vigilant against so-called “boiler room” operations, which are notorious for being fraudulent investment schemes typically run from temporary administrative locations.
The SEC-Cebeo cautioned that such operations frequently rely on aggressive cold-calling, deceptive credentials, and misleading promises to solicit funds from unsuspecting investors.
The SEC has clarified that the company is not registered with the Commission and thus lacks the authority to solicit investments from the public as mandated by Section 8 of the Securities Regulation Code (SRC).
While BMJ Data Processing Services holds a registration with the Department of Trade and Industry (DTI) under BNN/Cert.
No. 1839654, this registration does not grant it permission to offer or seek investments from the public.
The registered owner, Mr. Antonio Seno Jacalan Jr., has been identified in relation to the firm's operations.
The firm's alleged activities were exposed by a hacker associated with the YouTube channel “mrwn,” who revealed that individuals presumed to be call center agents for BMJ Data Processing Services were soliciting investments.
This exposé has prompted an investigation by the authorities.
SEC-Cebeo noted that the company operates out of The Gallery in Cebu City and has reportedly changed its office location frequently to avoid detection by regulatory bodies.
On May 20, authorities, including the Business Permit and Licensing Office, executed a temporary closure of BMJ Data Processing Services.
According to reports, individuals associated with the firm were presenting themselves as financial representatives of a platform called “Virtual Wealth Exchange.” The video evidence provided by mrwn categorized the platform as targeting international investors, specifically in countries such as Canada and the United Kingdom, describing it as an investing platform designed for the trading and management of various financial assets online.
The platform has been characterized in the exposé as a fraudulent entity.
Victims of the scheme reportedly lured into investing with promises of quick profits from Bitcoin trading through a system referred to as “Quantum AI.” Investors were purportedly encouraged to commit at least $250 with the assurance of high returns, complimentary mentorship, and rapid withdrawal processes.
The agents allegedly employed high-pressure sales tactics and utilized emotional manipulation to garner trust, making false claims regarding licensing particularly aimed at investors in Africa.
SEC-Cebeo emphasized that BMJ Data Processing Services' lack of registration with the SEC makes it unauthorized to solicit investments from the public, as outlined in the SRC.
The commission also issued a broader advisory to the public to remain vigilant against so-called “boiler room” operations, which are notorious for being fraudulent investment schemes typically run from temporary administrative locations.
The SEC-Cebeo cautioned that such operations frequently rely on aggressive cold-calling, deceptive credentials, and misleading promises to solicit funds from unsuspecting investors.
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