Today, we’re exposing the Seataoo dropshipping scam. The SEC recently revoked Seataoo’s license, and if you’re involved, you need to take your money out right now.
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Why People Say It’s A Scam
Red Flag #1: Upfront Payment Requirement
Seataoo claims to be a dropshipping platform, but it requires sellers to pay for products after an order and before shipping.
Red Flag #2: Evaluation
Sellers must fund orders to pass Seataoo’s evaluation, encouraging more capital deposits.
Red Flag #3: Indefinite Order Holding
Orders are held indefinitely until the seller has enough funds to process them, creating uncertainty and cash flow issues.
Red Flag #4: Long Delivery Times
Delivery can take up to 10 days after the seller pays, making it a bad business model for the fast-paced e-commerce market in the US.
Red Flag #5: Lack of Real Customers
There’s no evidence that Seataoo’s customers are real. You might be paying for products based on fake orders.
Red Flag #6: No Clear Return Policy
Seataoo’s unclear return policy is a red flag, especially since US customers love to return things.
Red Flag #7: Leverage
Seataoo’s promoters claim leverage is key, but it’s inefficient and creates bottlenecks.
Red Flag #8: Silencing and Threatening Critics
Seataoo silences and threatens critics, a classic scam tactic.
SEC DELIVERS THE FINAL BLOW!
NEW SEATAOO CORPORATION / SEATAOO INFORMATION TECHNOLOGY OPC
The SEC revoked Seataoo’s license after a thorough investigation, citing multiple violations of the Securities Regulation Code (SRC) and the Financial Products and Services Consumer Protection Act.
SEC Findings and Violations
Misrepresentation of Business Model: Seataoo claimed to be a dropshipping platform but operated an investment scheme.
Soliciting Investments Without a License: Seataoo solicited investments from the public without the necessary licenses.
Debunking Seataoo’s Announcement
Seataoo’s announcement claimed the revocation order was due to a competitor’s complaint and that they were not an investment platform. However, the SEC’s decision was based on a thorough investigation, revealing that Seataoo manipulated seller dashboards, created fake orders, and required upfront payments, characteristic of an investment contract rather than a retail operation.
Conclusion
Do you believe the SEC or Seataoo? Discuss in the comments below. Always do your due diligence before investing your time and money. Stay smart, stay safe, and keep watching Invested Lifestyle. Don’t forget to like, share, and subscribe. If you want to support me more, consider becoming a member. Shoutout to Oliver Laluz, our member of the Week. Thank you for making Invested Lifestyle possible.
Resources:
Scam Alert Philippines https://youtube.com/playlist?list=PLSy3b9zQyl0NaXRVPxTcV9FkuNELgfaCb&si=m3vV1urq_S1KidKe
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Clips Used:
https://www.youtube.com/@raketerangmudra19
https://youtu.be/ELyNiaVAtrY?si=4il0Vs673tjU-Ntm
https://www.usatoday.com/story/money/2021/04/14/bernie-madoff-ponzi-scheme-victims-list-includes-celebrities/7223467002/
DISCLAIMER:
This channel is an exercise in free speech with an intention of public education. The conclusions and declarations are the opinion of the author. Nothing in the channel constitutes a claim that any referenced company is a criminal or illegal enterprise within the framework of current law and law enforcement. Scams, bad business opportunities, bad investment, and shady are subjective terms that mean different things to different people.
This video does not constitute and is not intended as advice or recommendation regarding investment decisions or strategies. It is not intended to cause any actions by individual consumers other than to consider the information provided. The information contained in this video has been obtained from sources that are publicly available and which the creator believes to be reliable. Some data cited in the report are estimates based on relevant available information.
