SEC files 3rd complaint over Ponzi scheme

Ina Reformina, ABS-CBN News

Posted at Apr 05 2016 04:30 PM

MANILA - Another complaint involving several firms allegedly involved in a "Ponzi" scheme was filed by the Securities and Exchange Commission (SEC) with the Department of Justice (DOJ).

Mary Grace Miranda Lapid, reportedly the wife of actor Jess Lapid, was named respondent in the complaint for violation of Republic Act (RA) No. 8799, also known a the Securities Regulation Code, for "selling of unregistered securities withut a salesman's license" involving Emgoldex, Global Intergold (GIG), and Prosperous Infinite Philippines Holdings Corp. (PIPHC). These firms already have two pending cases with the DOJ.

The complaint against Lapid stemmed from a verified complaint-affidavit from a certain Gloreyna B. Reyes, who claimed that Lapid is "actively engaged in soliciting investments for GIG and PIPHC through Facebook."

Lapid is allegedly a member/agent of GIG and "actively promoting, advertising and posting through Facebook the marketing program of GIG and PIPHC as well as some photos of the other members of GIG and PIPHC especially Mr. Kevin Miranda who is a renowned 'Grand Upline' of GIG and PIPHC."

The complaint states that Lapid convinced Reyes to invest money in the amount of P36,000 per share in GIG for a promise of huge profits in the amount of P180,000.

Lapid allegedly told Reyes to recruit two other investors and must exit from the main table of orders. The member will then receive P180,000 which is the actual value of gold a prospective member has to buy in an online shop.

Reyes was ultimately convinced to invest P23,966 in cash, and an additional deposit was also made in the amount of P12,534.

However, Reyes claimed that she did not receive the profits promised by Lapid.

Upon checking, the SEC found that Lapid has not been issued a Certificate of Registration or License as capital market professional as associate person, compliance officer, salesman, and/or certified investment solicitor or a broker dealer of securities, investment house, underwriter of securities, investment company adviser, and/or mutual fund distributor.