DAVAO CITY — The Securities and Exchange Commission (SEC) announced on Friday, April 29, that ​it will file criminal cases against Jacama sales and marketing, a ​company ​based ​here that​”​publicly offers and sells investment contracts through scheme Cash Back Guarantee Sales Program​”​.

Jose P. Aquino, director of enforcement and investor production of SEC said during a press conference at Grand Men Seng Hotel that since SEC already issued a cease and desist order (CDO) against Jacama, they will eventually file criminal cases to avoid them from recruiting and releasing of pay out.

“We will prepare necessary complain to be filed in the Department of Justice (DOJ),” he said.

SEC-Davao extension office head Javey Paul D. Francisco added that the filing of criminal case will take some time since they (SEC) still have to build-up the case.

Francisco said that the penalty for those involved will be stiff.

​The SEC ​said it has found sufficient evidence showing Jacama ​”is soliciting investments from the public employing what is known as Ponzi scheme in the sale and marketing of its products.”​

He added that they will coordinate with the Bureau of Immigration to make sure the people involved will not ​be able to escape abroad.

​”We ask the immigration to put them in the watch list order to take note of the people involved, “Aquino said.

​The ​SEC ​said the firm violated sections 8 and 28 of the Securities and Regulation Code.

“Jacama engaged in the offering and selling of securities in the form of investment contracts which need prior registration with SEC and the firm, Mr. Manalang and all the persons acting for and on their behalf are acting as either broker or dealer without a license from SEC,” ​a SEC ​statement said​.

Francisco said the company has declared itself a sales and marketing venture registered with the Department of Trade and Industry (DTI) under the name of Janus Carlo D. Manalang.

He said however, that the firm is not registered​ with the SEC​ “​where in fact they are soliciting investments to the public​”​.

“We are doing this so that the public are well-informed of what is the nature of the business and their investment for their protection,” ​Francisco said.

He added that salesmen are required to register in SEC, to make sure that they are  responsible in selling their products to the public.

Jacama’s business address is located at Barangay 15-B (POB), Davao City while the address of its proprietor is at door 3 Crest Apartment, Lupo Diaz Street, Obrero.

The marketing firm is also active in social media such as Facebook.

Francisco reported that Mr. Manalang “holds not only the Jacama firm but also the Eden marketing in Digos City​”​.

“The CDO does not only hold Jacama firm but also the owner Mr. Manalang which means the CDO includes the operation in Digos,” Francisco said.

Francisco added that as of now, the SEC is not aware whether the firm has transferred and continues its operation since they are no longer in their original location.

“The problem now is that as of now, we weren’t able to locate Mr. Manalang,” he said.

SEC as sign post

Aquino reminded companies ​that the SEC is just like a sign post “but then if the public will not listen then they can’t do anything about it​”​.

“We can only advise them, but for sure we will run after those who are trying to victimize the public,” Aquino said.

Aquino said that to help the victims of these firms, the SEC will cooperate with government and other agencies like the anti-money laundering council.

“When we file criminal charges or at least an affidavit of complaint in the Department of Justice, the anti-money laundering council can go to the Court of Appeals for the freeze order of the assets of the firms,” he explained.

He said that the SEC ​is planning to give proposal on amendments of the securities regulation code to give them the authority to immediately freeze the assets of the company that are allegedly engaged in scams.

Meanwhile, Francisco advised the public to investigate first before investing in a certain firm. (davaotoday.com)

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