September 9, 2025 | 12:00am
MANILA, Philippines — One other case buildup led by the Securities and Trade Fee (SEC) has resulted in a victory.
The SEC mentioned {that a} regional trial courtroom in Pangasinan penalized 5 workers of JRL Kwarta Buying and selling Co. amounting to P750,000 for his or her engagement in unauthorized solicitation of investments from the general public.
In a choice promulgated on Aug. 26, Department 56 of the Regional Trial Courtroom of San Carlos Metropolis, Pangasinan discovered 5 workers of JRL Kwarta Buying and selling responsible past cheap doubt of violating Sections 8, 26 and 28 of the Securities Regulation Code.
The workers had been directed by the courtroom to pay a high-quality of P150,000 every, or a P50,000 high-quality for every violation, with subsidiary imprisonment in case of insolvency.
“Contemplating the spontaneous and voluntary plea of guilt of the 5 accused to all costs, the courtroom finds
schemes, allegedly to entice the general public to spend money on this system.
Upon additional investigation, the fee discovered that the corporate gives a crypto funding scheme that requires a minimal funding of P30,000, promising buyers with month-to-month launch of earnings, with out the mandatory license from the SEC.
JRL Kwarta Buying and selling claims that the funds collected from buyers might be utilized in cryptocurrency buying and selling.
The SEC coordinated with the Philippine Nationwide Police-Anti-Cybercrime Group for additional investigation and the conduct of an entrapment operation on Could 13, ensuing within the arrest of the 5 workers.
