SEC, NBI raid office of investment solicitor in Zamboanga City

THE Securities and Exchange Commission (SEC) announced it busted the operations of Silverlion Livestock Trading Corp. in Zamboanga City for violation of the Cybercrime Prevention law (Republic Act 10175).

In a joint operation on November 26, the combined forces of the SEC Zamboanga Extension Office and the National Bureau of Investigation (NBI) Region IX implemented a search warrant against Silverlion in its offices at Apolinario Loop, Barangay Guiwan and at Green Valley National Highway, Barangay Manicahan, both in Zamboanga City.

The Zamboanga City Regional Trial Court Branch 15 issued the search warrants against Silverlion for violations of the Securities Regulation Code, in relation to Republic Act No. 10175, otherwise known as the Cybercrime Prevention Act of 2012.

The SEC and NBI Region IX 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. 

The SEC filed criminal cases for violation of the SRC against Silverlion’s incorporators, officers and agents. They were identified as: Ryan Cagod Ladoing; Renan Lara Ladoing; Rosemarie Alvarez Guzman; Neña Ewayan Algoy; John Paul Dellara Lopez; and, Michael Villalobos Berja. They were named before the inquest prosecutor of the Office of the City Prosecutor of Zamboanga City.

Ryan Ladoing has also been involved in the investment scam RGS World Marketing, which was the subject of a cease-and-desist order and advisory issued by the SEC earlier this year.

Upon application by the Enforcement and Investor Protection Department (EIPD), the commission en banc on November 17 issued a CDO against Silverlion, enjoining the group to stop soliciting investments from the public without the necessary licenses from the Commission. 

The order was simultaneously served on the company together with a show-cause order (SCO) issued by the EIPD. The SCO prompts the company to explain why its registration as a corporation should not be revoked for serious misrepresentation as to what it can do or is doing to the great prejudice of or damage to the general public.   

Investigations by the SEC showed that Silverlion had been offering and selling investment packages to the public with guaranteed returns of 35 percent within just 15 days. With this, investments ranging from P1,000 to P100,000 promises yield returns worth P1,300 to P130,000, respectively.

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, according to the SEC.

Section 8 of the SRC provides that securities shall not be sold or offered for sale or distribution within the Philippines, without a registration statement duly filed with and approved by the SEC.

This year, the regulator has already issued 82 advisories against groups and individuals found to be soliciting investments from the public without the necessary license from the Commission.


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