SEC files case vs involved in investment scam | Inquirer News

SEC files case vs involved in investment scam

/ 05:13 PM April 05, 2016

The Securities and Exchange Commission (SEC) on Tuesday filed with the Department of Justice (DOJ) another case against those involved in the selling and offering investment schemes without a license.

Facing a complaint for violation of Republic Act 8799 or the Securities and Regulation Code for selling unregistered securities without a salesman’s licence–involving Emgoldex, Global Intergold (GIG), and Prosperous Infinite Philippines Holdings Corp. (PIPHC)–is Mary Grace Miranda Lapid.

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The three firms already have pending cases with the DOJ.

Lapid, according to a verified complaint-affidavit of a certain Gloreyna B. Reyes, is actively soliciting investments for GIG and PIPHC through Facebook.

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She said Lapid identifies herself as a member/agent of GIG and “actively promoting, advertising and posting through Facebook the marketing program of GIG and PIPHC as well as some photos of the other members of GIG and PIPHC especially Mr. Kevin Miranda who is a renowned ‘Grand Upline’ of GIG and PIPHC.”

Reyes said she was convinced by Lapid to invest money worth P36,000 per share in GIG and promised to get a return of P180,000. She was also required to recruit two other investors

She was also convinced to make additional investments. However, she was not able to receive the promised profit.

Upon verification, SEC said Lapid has no Certificate of Registration or License as capital market professional as associate person, compliance officer, salesman, and/or certified investment solicitor or a broker dealer of securities, investment house, underwriter of securities, investment company adviser, and/or mutual fund distributor. JE

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TAGS: Emgoldex, Investment, investment scam, Ponzi, Ponzi scheme
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