Warren de Guzman, ABS-CBN News

<figure class="op-social"><iframe allowfullscreen="" frameBorder="0" height="383" src="https://www.youtube.com/embed/Ff6pAvju1wE" width="510"></iframe></figure>Jose Cecilio “Jay” Peñaflor’s record at the Philippine Stock Exchange (PSE) provides insight on why so many trusted him with so much money.Peñaflor is the man at the center of this alleged P300 million investment scam that preyed on investors who wanted to learn about and invest at the stock market.An employee of the PSE for nearly 10 years, ironically Peñaflor worked in the PSE&#x27;s Market Education Department, which essentially promoted trade through investor education.He was known by brokers, bankers, and analysts alike.&quot;Yeah we know him... because he knows a couple of our traders and he has also referred a few clients to us... We also had a few complaints from a few of our clients but these were attended to by him and our people,” said Wilfred Racadio, President of Venture Securities, one of the brokerages Peñaflor claimed to represent.“Mr. Jay Peñaflor referred a few clients to us, there were times when he would be the &#x27;go between&#x27; accept cash from our clients or pretend to represent us. There were certain instances in our case that the clients that Jay talked to and got money from supposed to be for remittance to us that he didn&#x27;t remit,” Racadio added.One marketing officer of a large bank recalls Peñaflor being instrumental in several promotional programs aimed at encouraging trade through education. He was described as helpful, active, and well connected.He could regularly be seen giving tours of the PSE, and he was often on television, discussing the PSE&#x27;s education initiatives.In addition, Peñaflor was not just an educator at the PSE as he also taught at San Beda.One broker who teaches part time at the school, approached ANC to voice his distaste for Peñaflor and the scam he is allegedly embroiled in.He said he knows some of the student victims, and their losses range from 500,000 to P8 million.Peñaflor was also on social media, his Twitter profile describing him as a stock investing and economics guru.His last tweet was sent out on July 2013, the same year he was dismissed by PSE for allegedly soliciting funds in exchange for lectures and trading seminars without the exchange&#x27;s knowledge.He filed a case of illegal dismissal against the PSE, but lost in 2015.

Jose Cecilio “Jay” Peñaflor’s record at the Philippine Stock Exchange (PSE) provides insight on why so many trusted him with so much money.

Jay Peñaflor: Man behind P330-M investment scam?

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Jay Peñaflor: Man behind P330-M investment scam?

Warren de Guzman,

ABS-CBN News

Published Mar 08, 2016 02:00 PM PHT

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Updated Mar 09, 2016 03:08 PM PHT

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