THE National Bureau of Investigation on Tuesday said it was set to file criminal charges against an Israeli national and his private company for violations of R.A. 8799, also known as the Securities Regulations Act, in relation to R.A. 10175 (Cyber Crime Prevention Act of 2012) against a private company.
NBI Director Dante Gierran identified the Israeli national as Ariel Altaraz, owner and manager of the company S&L Services, Inc., a private corporation allegedly involved in the illegal business activity of bogus/artificial currency and stocks trading and selling securities through the internet, also known as “boiler room” activities.
The case stemmed from the complaint of a former customer service representative of the company who alleged that S & L Services, Inc. was engaged in illegal business activities and selling securities through the internet, victimizing Filipino overseas contract workers and foreign nationals.
A series of confidential verification and investigation by the NBI turned out to be positive.
Likewise, a check from the office of Markets and Securities Regulations Department of the Securities and Exchange Commission revealed that S & L Securities Services, Inc. was not duly registered and have not been issued a permit to sell securities.
After securing a search warrant from the court, operatives of the NBI-International Operations Division served the search warrant against the company in its office in Ortigas Center, Pasig City, resulting in the seizure of 12 sets of computers used by the company in its illegal business operations.