The Securities and Exchange Commission (SEC) won another legal victory after a regional trial court convicted the incorporators and directors of X-CEE789 Lending and Trading Inc. for submitting falsified documents for its registration as a lending company.
The Pasay City Regional Trial Court Branch 118 earlier found Merlinda Derequito, Mila Anonuevo, Haydee Alarcon, Maria Collen Custodio, Marisa Abaquin, Ramona Belen, Pinder Kaur Bhopal, Parvesh Kumar, Karan Kumar, Surinder Bhopal, Kamaljit Kaur, and Jaswinder Kaur guilty beyond reasonable doubt of violating Section 12(3)(a) of Republic Act 9474, or the "Lending Company Regulation Act of 2007" (LCRA).
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