- The SEC filed criminal charges against the wife of actor Jess Lapid
- Mary Grace Miranda Lapid was found soliciting investments from the public despite the absence of a license from the SEC
- A complainant said that Lapid identified herself as a broker for Emgoldex, GIG and PIPHC, which were also not licensed by the commission
The Securities and Exchange Commission (SEC) has filed criminal charges against Mary Grace Miranda Lapid, the wife of television actor and martial arts instructor Jess Lapid for soliciting investments from the public despite the absence of a license issued by the agency.
In an article written by Brian Maglungsod for InterAksyon on April 6, 2016, it was disclosed that Lapid violated Section 28 of the Securities Regulation Code, which speaks about the registration of brokers, dealers, salesmen and associated persons.
According to Jose Aquino, director of SEC’s Enforcement and Investor Protection Department (SEC-EIPD), Lapid sold unregistered securities from Emgoldex, Global InterGold (GIG) and Prosperous Infinite Philippine Holdings Corporation (PIPHC), that were also not given permits to solicit investments by the commission.
One complainant named Gloreyna Reyes said that Lapid contacted her through her Facebook account to promote the investment schemes of GIG and PIPHC.
Reyes said Lapid was able to convince her to invest P36,000 to the companies; promising her with a P180,000 return of investment (ROI). However, the said promise did not materialize.
In November 6, 2015, the SEC has filed charges against Emgoldex, GIG and PIPHC for not possessing licenses to offer investment schemes, and the commission also found out that Lapid is not a registered capital market professional, compliance officer, associate person, salesman, or certified investment solicitor or a broker of securities in an investment house.
Aquino said Lapid’s case is now handled by the Department of Justice (DOJ) and that the SEC will be filing more cases against illegal investment firms in the coming days.
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