By CHRIS V. PANGANIBAN
SAN FRANCISCO, Agusan del Sur — The Securities and Exchange Commission (SEC) in Butuan City has warned individuals who invite or recruit others into illegal investment schemes that they may be held criminally liable and face penalties under the law.
Lawyer Jason C. Tan, director of SEC Butuan City, said those who actively promote or encourage participation in fraudulent investment activities are not free from accountability and may be sanctioned along with the operators of the schemes.
Tan stressed that investment scams can victimize anyone, regardless of background or experience.
To address the growing threat, the SEC has stepped up its financial literacy campaigns in schools and barangays across the Caraga region. The initiative aims to educate residents on proper investment practices, scam prevention, and personal finance management.
Through these efforts, the SEC seeks to equip the public with the knowledge needed to make informed financial decisions and avoid falling prey to fraudulent schemes.
The SEC is actively collaborating with the National Bureau of Investigation (NBI) to track down those behind the operations.
A list of potential individuals involved in the fraud from San Francisco town in Agusan del Sur has already been compiled. The SEC is also working to ensure that all fraudulent activities are swiftly investigated.
Responding to SEC Butuan’s call, San Francisco Mayor Grace Carmel Paredes-Bravo emphasized that false claims, such as accusations of government corruption, will not be accepted as valid defenses in these cases. “Engaging in fraudulent investment schemes is a criminal offense,” she warned. “Anyone involved will face serious legal consequences.”
The SEC has ramped up efforts to inform the public about these scams, using media support to broaden its reach. In a February advisory, the SEC urged residents to verify any investment opportunity with the Commission before committing funds.
The SEC is calling on residents to report suspicious activities to the Enforcement and Investor Protection Department (EIPD) at [email protected] or use the SEC Check App, available on the Apple App Store and Google Play Store, to verify the legitimacy of investment schemes.
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