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A Pasay City court has found five officers of a lending company guilty of falsifying public documents related to their registration with the Securities and Exchange Commission (SEC), the corporate watchdog said on Monday.
In a statement, the regulator said the Pasay Metropolitan Trial Court Branch 24 had found that Jerlie Singh, Erlinda Ocampo, Elaine Ocampo, Erwin Ocampo and Amarjit Singh of All-in 7,000 Lending and Trading Corp. violated Article 172(1) of the Revised Penal Code.
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Back in 2017, the company submitted a certificate of bank deposit allegedly issued by Banco de Oro Pasay-Two Shopping Center branch as part of its registration as a lending company as proof of P1 million in paid-up capital.
The SEC later found, however, that All-in 7,000’s certificate was fake and was not actually issued by the bank.
The five officials will be sentenced to a minimum one year imprisonment and a fine of P5,000 each.