Philippine SEC file second round of EmGoldex complaints
Attempts to quash EmGoldex and its various incarnations in the Philippines continue, with news of the SEC filing a second round of complaints.
Late last year the Philippine SEC filed criminal charges against Global InterGold ringleaders.
Facing continued negative publicity and media attention, in mid 2015 EmGoldex changed its name to Global InterGold.
Following on from a regulatory warning and cease and desist against EmGoldex and Global InterGold issued in November 2015, the SEC filed criminal complaints against six local ringleaders.
And while that may sound harsh, considering all the accused were doing is marketing Global InterGold, it’s pretty much par for the course.
In early 2015 the Philippine SEC issued a general warning about EmGoldex. The scheme responded by declaring their entire Philippine investor-base were “fraudulent operators allegedly trading as Emgoldex Philippines”.
The Ponzi scheme went on to issue a press-release calling on their Philippine investor to be brought to justice, and urged the public to report them to the SEC.
Seriously, I’m not making this up.
The latest SEC complaint against Global InterGold names ‘Mary Grace Miranda Lapid along with other John and Jane Does for unauthorized selling of investments‘.
Lapid is believed to recruited people into Global InterGold through Prosperous Infinite Philippine Holdings Corp.
In the petition, the SEC alleged Lapid was “actively promoting, advertising and posting through Facebook the marketing program of GIG and PIPHC as well as some photos of other members of GIG and PIPHC especially Kevin Miranda, who is a renowned ‘grand upline’ of GIG and PIPHC.”
Lapid is the sister of Kevin Miranda and wife of local celebrity, Jess Lapid.
Kevin Miranda is the main respondent of the SEC’s initial complaint and, along with his co-conspirators, is facing a life sentence if convicted.
EmGoldex and Global InterGold meanwhile are believed to be run by Russian scammers. The company’s latest ploy appears to be the launch of “Global IGold UK”.
According to the SEC, Global IGold UK has
denied any connection with (EmGoldex and Global InterGold) and has disowned any acts of GIG attributing affiliation to them.
This marks the third time those behind EmGoldex and Global InterGold have abandoned their Philippine investors.
Do they really think they’re fooling anyone?