The president of a stock brokerage house was fined P2.1 million by a Makati regional trial court after he was found guilty of defrauding his clients in violation of the Securities Regulation Code (SRC), the first conviction secured by the government almost 13 years after the law was enacted.
The Philippines is expected to experience a surge in fraud committed against holders of automated teller machine (ATM) and credit cards over the next few years—the downside of having more people involved in the banking system as the country’s economy booms.
Aside from the numerous syndicated estafa charges they are facing, the top officials of Aman Futures have been slapped with complaints by the Securities and Exchange Commission (SEC) for engaging in fraudulent transactions and operating without the proper registration.
Three Cebuano-based businessmen will be filing charges against the Aman Futures Group Philippines Inc. in the hope of getting back the P100-million they said they invested in the company.
Retired school supervisor Cristituto Potayre of Pagadian City had hoped to triple his hard-earned retirement pay after 30 days when he invested in a scheme ran by Pasay-based Aman Futures Group Phils. Inc.
Pag-IBIG Chief Executive Officer Darlene Marie Berberabe on Thursday responded to news reports saying that the Court of Appeals found her and the members of Board of Pag-IBIG liable to Globe Asiatique Realty Holdings Corporation.
The Securities and Exchange Commission warned the public on Tuesday not to heed erroneous reports that Aman Futures Group Phils. Inc.—a trading firm tagged in a P244-million “double-your-money” scam in Pagadian City and other parts of the Visayas and Mindanao—has been given fresh clearance to operate.
The Bureau of Customs has warned Filipinos against people posing as customs officials who defraud—through snail mail and e-mail—those who expect to receive packages.
Federal securities regulators have filed fraud charges and an emergency order to freeze the assets of a North Carolina company officials say operated a $600-million Ponzi scheme that is on the verge of collapse.
Barring any unexpected hitches, seven British and Australian nationals and one Filipino will be arraigned in court on August 14 for selling unregistered securities to the public.
There is something about summer in our country that draws representatives of foreign banks to visit and promote their products to well-heeled members of our society.
The Bangko Sentral ng Pilipinas is embarking on a campaign to fully protect consumers from those engaging in financial scams.
