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SEC shuts down 2 more firms for illegal Ponzi, loan scheme

By Inquirer - 3 months ago
The Securities and Exchange Commission (SEC) has revoked the corporate registrations of Procap International and Ray International Philippines Corp. for allegedly soliciting investments from the public without the required prior registration. In a statement on Tuesday, the corporate watchdog said it had also slapped Procap with a P1-million penalty for running a Ponzi scheme, whereby

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