Arthur Fuentes

Department of Justice logo in this photo taken on August 3, 2023.  Jonathan Cellona, ABS-CBN News

Article (news)

Adrian Ayalin

ABS-CBN News

MANILA — The Department of Justice has ordered the filing of cases in court against officials of the Maria Francesca Tan Group of Companies for violations of Republic Act No. 8799 or the Securities Regulations Code.In a statement, the DOJ said it found prima facie evidence with reasonable certainty of conviction against Maria Francesca Tan also known as Mica Tan and her associates for violations of Sections 8, 26 and 28 of the Securities Regulation Code in relation to Republic Act No. 10175 or the Cybercrime Prevention Act of 2012 and Republic Act No. 9160 or the Anti-Money Laundering Act of 2001.The DOJ noted that the cases stemmed from the complaint filed by the Securities and Exchange Commission which held that the MFT Group had no license to issue or sell securities.The company also offered high yield investment opportunities funding or financing its “sure projects” with regard to its subsidiaries.In the statement, DOJ Secretary Jesus Crispin Remulla stressed that corporations are urged to get their affairs in order and comply with regulatory obligations.“The law is not a shield for the powerful, it is a standard to which all must answer,”  Remulla said.The DOJ however said that the complaints against all the respondents for violation of the Anti- Money Laundering Act were dismissed.But the department furnished the Anti-Money Laundering Council with the copies of its resolution and the entire records of the case for appropriate action.“This development underscores the Philippine government’s continuing efforts to crackdown on unlicensed investment activities, financial misrepresentation, and corporate fraud,” the DOJ said.

The DOJ is filing cases against officials of the Maria Francesca Tan Group of Companies for allegedly selling securities without a license.

The DOJ is filing cases against officials of the Maria Francesca Tan Group of Companies for allegedly selling securities without a license.

DOJ orders filing of cases vs Maria Francesca Tan Group of Companies

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DOJ orders filing of cases vs Maria Francesca Tan Group of Companies

Adrian Ayalin,

ABS-CBN News

Published June 20, 2025 12:15 PM PHT

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Updated June 20, 2025 03:59 PM PHT

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