SEC wins conviction of 5 lending company officers for document fraud

The SEC is racking up wins against scammers, recently securing convictions of five officers of All-in 7,000 Lending and Trading Corp. for falsifying registration documents.

This marks the third conviction secured by the SEC under the Revised Penal Code, bringing the total of individuals convicted to 17. The SEC also scored 11 convictions for the violation of the Lending Company Registration Act involving 92 individuals. 

Emilio B. Aquino 
Securities and Exchange Commission Chair 

Last June 25, Branch 47 of the Metropolitan Trial Court of Pasay City found Jerlie O. Singh, Erlinda O. Ocampo, Elaine O. Ocampo, Erwin O. Ocampo, and Amarjit Singh guilty of violating Article 172(1) of the Revised Penal Code for falsifying public documents.

All-in 7,000 submitted a certificate of bank deposit purportedly issued by Banco De Oro Pasay-Two Shopping Center Branch. This was part of its registration as a lending company with the Commission in 2017 to prove that it has a paid-up capital of P1 million, which is required by the LCRA. 

The SEC discovered that the submitted bank deposit certificate was falsified. 

The officers were sentenced to imprisonment ranging from one year to two years and two months, along with a fine of P5,000 each.

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