The Gokongwei Group has once again cautioned the public against fraudulent cryptocurrency schemes that are falsely associating their projects with the name of Lance Gokongwei, the president and CEO of JG Summit Holdings.
In a recent advisory, the conglomerate highlighted a growing trend in which the names of reputable companies and individuals, including Lance Gokongwei, are being misused to promote dubious cryptocurrency ventures such as the “Atom Capital” and “Momentum Capital” programs.
“This is to inform the public that Mr. Gokongwei, the Gokongwei Group, its subsidiaries, and representatives are in no way involved in these projects,” the group stated emphatically. The advisory also underscored that necessary steps are being taken to curb the spread of these misleading advertisements.
The Gokongwei Group’s warning serves as a reminder for the public to remain vigilant against these scams. “We strongly urge everyone not to engage with suspicious platforms and to properly scrutinize web pages and links at all times,” the group advised.
This latest warning follows a similar advisory issued by the Gokongwei Group just last month, in which they specifically called out the “Momentum Capital” program as a fraudulent scheme. The group has been proactive in addressing these scams, recognizing the potential harm they pose to the public’s financial security.
JG Summit Holdings, one of the Philippines’ largest and most diversified conglomerates, is widely known for its operations across various industries. Its business portfolio includes snack food and beverage production through Universal Robina Corporation, air transportation via Cebu Pacific, property development under Robinsons Land Corporation, and petrochemical manufacturing through JG Summit Olefins Corporation, among others.
The Gokongwei Group’s stature as a major player in the Philippine economy makes it an attractive target for scammers looking to exploit its reputation. The group’s repeated warnings underscore the importance of public awareness and caution when dealing with cryptocurrency investments, especially those that falsely claim endorsements from prominent figures.
As the popularity of cryptocurrencies continues to rise, so too does the risk of falling victim to scams. The Gokongwei Group’s ongoing efforts to alert the public are a crucial part of the broader fight against financial fraud in the digital age. By staying informed and vigilant, individuals can better protect themselves from these deceptive schemes.
