FIVE people, including three British tourists, are facing criminal charges in court for allegedly selling shares of stocks of a Cebu company that does not exist.
Prosecutor Ma. Liza Jorda found evidence to charge British nationals Christopher Marren, Gary Melvin, Michael Pitmon with violation of Republic Act 8799 (Securities Regulation Code) in relation to RA 10175 (Cybercrime Prevention Act of 2012).
Also impleaded were the Britons’ Filipino alleged accomplices Alexander Chiongbian and Wilfredo Lacanalale.
The case stemmed from the complaint filed by the National Bureau of Investigation (NBI) 7 against the respondents before the City Prosecutor’s Office.
The respondents created a website to lure their victims to buy shares of stocks.
Among the companies the respondents promoted online were Matsuda Global and Lux Global Assets.
But a certification issued by the Securities and Exchange Commission in Central Visayas showed that Kansami Import is not licensed or authorized to engage in selling securities, stocks, and commodities trading or act as investment advisers.
Last March 31, the NBI 7 searched the respondents’ office in Barangay Kasambagan, Cebu City.
They were allegedly caught in the act of trading, selling, and soliciting stocks and commodities and acting as investment agents.
The accused failed to present any document to prove that their transaction is legal.
Authorities also seized several computer units, gadgets, ledger sales strategy, scripts and other papers relating to the respondents’ alleged illegal transaction.