ZAMBOANGA CITY – Authorities are still hunting the man accused of scheming investors into putting their hard-earned money in his company Silverlion Livestock Trading Corporation in Zamboanga City.
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| Ryan Cagod Ladoing, pre- sident and CEO of Silverlion Livestock Trading Corp. |
The 36-year old Ryan Cagod Ladoing, president and CEO of Silverlion Livestock Trading Corporation, remains at large and authorities have not issued any report on the progress of their search for the elusive suspect.
The company lured a still undetermined number of people to invest with it in exchange for a huge profit or interests.
Last month, members of the National Bureau of Investigation and the Securities and Exchange Commission raided two branches of Ladoing’s company here and seized some P15 million in cash, pistols and magazines, and voluminous documents believed to be used in illegal business transactions similar to Ponzi scheme, a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors.
The Securities and Exchange Commission said it filed criminal charges against the firm’s incorporators and officers Ladoing, Renan Lara Ladoing, Rosemarie Alvarez Guzman, Neña Ewayan Algoy, John Paul Dellara Lopez and Michael Villalobos Berja.
It said Silverlion Livestock Trading Corporation had been offering and selling investment packages to the public with guaranteed returns of 35% within just 15 days. With this, investments ranging from P1,000 to P100,000 could yield returns worth P1,300 to P130,000, respectively.
“The scheme involves the sale and offer of securities to the public in the form of investment contracts, whereby a person invests his money in a common enterprise and is led to expect profits primarily from the efforts of others,” the Securities and Exchange Commission said.
Ladoing has also been involved in another investment scam through RGS World Marketing which was ordered closed by the Securities and Exchange Commission.
The Securities and Exchange Commission also warned the public against investing with Frutas Comida Zamboanga which it said is another unauthorized investment scheme.
It said the Frutas Comida Zamboanga has been offering guaranteed returns of 20% per month to the public although it has not secured the necessary registration from the Securities and Exchange Commission, and the corresponding order of registration of securities and certificate of permit to offer and sell securities.
Frutas Comida Zamboanga’s Facebook page shows that it has been encouraging the public to invest as little as P5,000 in exchange for monthly returns of P6,000.
“Investments are collected through online banking channels and other digital payment platforms Profits distributed to member-investors supposedly come from the sale of fruits and food tray packages. Frutas Comida also noted that investors need only invest in their business and wait for the 20% returns every month.
The scheme involves the sale and offer of securities to the public in the form of investment contracts, whereby a person invests his money in a common enterprise and is led to expect profits primarily from the efforts of others,” the Securities and Exchange Commission said.
“In view thereof, the public is hereby advised to exercise caution in dealing with any individual or group of persons soliciting investments for and on behalf allegedly of Frutas Comida Zamboanga. The public is further advised not to invest or to stop investing in the investment scheme being offered by any individuals claiming to represent said entity,” it added.
The Securities and Exchange Commission said those who act as salesmen, brokers, dealers or agents or claim to act as such on behalf of Frutas Comida Zamboanga in selling or convincing people to invest may be prosecuted and held criminally liable under Section 28 of the SRC, and penalized with a maximum fine of P5 million or penalty of 21 years of imprisonment or both. (Mindanao Examiner)
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