Prosperity.com asserts legitimacy

Hounded by reports of its alleged involvement in fraudulent business practices, Prosperity.com, a website network marketing firm, has berated its so-called detractors for allegedly engaging in a smear campaign against the corporation.

In a statement, Prosperity.com affirmed it is a legitimate, licensed corporation engaged in website designing, providing and network marketing.

The company underscored it is not, in any way, engaged in pyramiding or securities selling.

A report carried by a Philippine-based publication, The Manila Standard, stated that the Philippine Securities and Exchange Commission issued last January a cease-and-desist order against Prosperity.com from further engaging in the sale or distribution of the securities.

But the firm countered the report, citing that the Court of Appeals last Feb. 12, 2001 a Temporary Restraining Order against SEC in connection with the CDO order it issued.

“Now, it is SEC’s turn to prove the legality of the issuance of the CDO,” said the company’s representative Joseph M. Manglona.

Mr. Manglona further noted that the success of the website network marketing generated by the company has become the subject of mudslinging and smear campaign created by its devious competitors.

He added that many Filipinos have benefited from home ownership through the website of Prosperity.com which have caused envy to falling players in the competition.

The company decried allegations that the business is a scam, adding that if there was a scam, it is being created by competitors for the purpose of eradicating Prosperity.com’s success.

But local law enforcement officers are on the lookout for the possible involvement of CNMI-based individuals in a money-making scam that has reportedly victimized hundreds in the Commonwealth and other countries.

Last week, Police Commissioner Charles W. Ingram Jr. said many individuals in the CNMI have reportedly established links with companies involved in the “pyramiding” scheme, which spins business through enticing investors in exchange for an attractive profit.

Aside from public safety officials, the Philippine Consulate General also issued a press release taken from the Manila Standard article that reported on two Philippines-based companies that have been placed under probe by the Department of Trade and Industry for allegations of pyramiding.

The Consulate General had clarified the reports were totally based on the broadsheet article which was released to local readers in view of an increasing number of queries by concerned Filipinos as well as the public regarding the reports that “consultants” of Prosperity.com were recruiting and persuading Filipinos to invest their hard-earned savings into this alleged scheme.