Justice Secretary Jesus Crispin Remulla has ordered the department’s task force on business scams to dig deeper into the Maria Francesca Tan Group of Companies Inc. and Foundry Ventures, Inc. which are supposedly involved in an illegal investment scheme.

 The DOJ task force headed by Senior Deputy State Prosecutor Peter Ong held a preliminary investigation Tuesday afternoon on the complaint filed by the Securities and Exchange Commission against MFT and Foundry Ventures.

 “Meticulously uncover every detail surrounding this case, look closely into every angle and if necessary, charge everyone who is proven to have defrauded our precious Filipino investors," Remulla said in a statement.

 The DOJ noted that the SEC complaint stemmed from the complaints of several investors who participated in the investment scheme. 

The SEC has found out that MFT supposedly offered 12-18% returns to its investors through the issuance of postdated checks reflecting a 1% to 1.5% monthly interest. 

Investors were given either a promissory note or borrower-lender agreement as proof of their investment, which were allegedly executed without proper documentation and registration with the SEC. 

"Investments are the life and blood of our economic sustainability, the immediate resolution of this case is a top priority," Remulla said. 

During the preliminary investigation, the counsels of the respondents, including Tan, were given by the DOJ panel an extension of 20 days to file their counter-affidavits. 

Some of the counsels also filed a motion to suspend the investigation because of a pending similar case before the Court of Appeals.