THE Securities and Exchange Commission (SEC) on Tuesday said it secured another win over investment scams after a Regional Trial Court (RTC) in Batangas fined seven people affiliated with One Dream Global Marketing Inc. totaling P2.8 million. They were also ordered to serve up to 20 years of jail time each.
In a decision dated July 14, the Batangas City RTC Branch 2 found officials of One Dream guilty for syndicated estafa for their pyramid scheme, when its permit only allows them to sell detergents, which violates the Securities Regulation Code.
Convicted were the following: Arnel Gacer; Jobelle De Guzman; Judith Itoh; Marlon De Guzman; Louie De Guzman; Belinda De Guzman; and, Jun De Guzman. The court also issued an alias warrant of arrest against Ariel De Guzman, Richard Ramos, Jay-ar De Guzman and Joel De Guzman, who all remain at large.
The case against the Lipa, Batangas-based investment scam stemmed from complaints filed with the Department of Justice by nine investors against One Dream for syndicated estafa on July 21, 2015. Two other investors filed complaints against the group with the SEC’s Enforcement and Investor Protection Department on August 3, 2015. The complainant-investors accused the officers of One Dream of offering investments worth P888, with the promise of a P1,300 payout after four days, excluding a 10-percent tax.
Investors were allowed to pay for up to 31 slots, or a total of P27,528, in exchange for P39,022.80 after four…
