THE Securities and Exchange Commission (SEC) extension office in Zamboanga has filed criminal cases against the incorporators of Silverlion Livestock Trading Corp., the regulator said.
The regulator identified the incorporators as Ryan Cagod Ladoing, Renan Lara Ladoing, Rosemarie Alvarez Guzman, Neña Ewayan Algoy, John Paul Dellara Lopez, and Michael Villalobos Berja.
On Nov. 26, the SEC’s extension office and the National Bureau of Investigation (NBI) of Region IX served a search warrant against Silverlion in its two offices in Zamboanga City.
Zamboanga City Regional Trial Court Branch 15 issued search warrants against the entity for violations of the Securities Regulation Code (SRC) in relation to the Cybercrime Prevention Act of 2012.
According to a press release, the SEC and NBI Region IX were able to seize bundles of cash, vouchers, and other devices in Silverlion’s office.
“[Those] were supposedly scheduled to be used for the upcoming payout of profits to its existing investors,” the SEC said.
The regulator added that Mr. Ladoing was also involved in an investment scam under RGS World Marketing earlier this year, which made it a subject of a cease-and-desist order.
Recently, the SEC issued a cease-and-desist order against Silverlion stopping it from soliciting investments from the public and ending its agents’ internet presence.
In the investigations conducted by the SEC extension office, it found that Silverlion had been offering investment packages with a supposed guaranteed return of 35% within 15 days.
The packages start at P1,000 to P100,000 with a yield return of P1,300 to P130,000, respectively.
According to the SEC, the scheme involves the sale and offer of securities to the public through investment contracts where investors are led to expect profits from the efforts of others.
“The SEC continues to be more proactive in its fight against illegal investment-taking activities,” the regulator said.
Year to date, the SEC has already issued 82 advisories against entities it found to be soliciting investments from the public without the necessary license. — Justine Irish D. Tabile