The Securities and Exchange Commission (SEC) filed criminal cases against the officials and agents of Zamboanga City-based Silverlion Livestock Trading Corp. who were found to be offering investments without the requisite licenses.
In a statement, the regulator said a cease-and-desist order had been issued against Silverlion on Nov. 17, ordering them to halt the solicitation of investments.
The criminal cases were lodged against Ryan Cagod Ladoing, Renan Lara Ladoing, Rosemarie Alvarez Guzman, Neña Ewayan Algoy, John Paul Dellara Lopez and Michael Villalobos Berja.Ladoing was previously involved in an investment scam by RGS World Marketing, which the SEC also directed to shut down.
Guaranteed returns
Investigations revealed that Silverloin was offering investment packages with guaranteed return of 35 percent within just 15 days. This means investments of P1,000 to P100,000 were promised to grow to P1,300 to P130,000.
“The scheme involves the sale and offer of securities to the public in the form of investment contracts, whereby a person invests his money in a common enterprise and is led to expect profits primarily from the efforts of others,” SEC said.
The Securities Regulation Code provides prohibits the sale and offer of securities without a registration statement duly filed with and approved by the SEC.In relation to this, SEC Zamboanga Extension Office and the National Bureau of Investigation Region IX implemented a search warrant against the company’s offices.
They were able to seize “bundles of cash, vouchers and other device in Silverlion’s office, which were supposedly scheduled to be used for the upcoming payout of profits to its existing investors,” SEC said.
The regulator has already issued 82 advisories against entities found to be offering investment opportunities without the proper licenses.
“The SEC continues to be more proactive in its fight against illegal investment-taking activities,” the regulator added. INQ