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Friday, March 29, 2024

Another investment scam revealed; trader faces raps

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The Securities and Exchange Commission  on Monday filed before the Department of Justice another criminal complaint against a businessman who allegedly involved in another investment fraud.

In a complaint, SEC, through director for investigations and prosecution Jose Aquino, accused trader Royvil Peramide of violating Republic Act No. 8799 or the Securities Regulation Code. 

The SEC acted on the complaint filed by Rosita Dizon, who lost P300,000 in investments to the alleged scam.

Dizon claimed that Peramide promised her return of investment and interest of 20 percent after just 15 days through the scheme that supposedly involved foreign currency exchange.

The complainant said Peramide’s promise did not materialize. Peramide’s scheme did not have permit, SEC said.

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Aquino has called on other victims of Peramide to come out and support their case in the DoJ. 

Just last week, the SEC filed similar charges against trading firm Hyper Program International over an alleged multimillion-peso pyramiding investment scam. 

The commission accused the firm and three affiliate firms—HPI Direct, HPI Holdings and Business Icon Premier Trading—of engaging in a “pyramiding scam” or selling investments to the public at a high interest or profit without required permit.

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