MANILA, Philippines — The Department of Justice (DOJ) has issued a resolution to slap criminal charges against Organico Agribusiness Ventures Corp. — tagged by the Securities and Exchange
Affirming the findings of the SEC, the DOJ found probable cause to charge Organico, its president and chair Cerrone Roial Posas, and officers Marve Subere Posas, Renato Subong, Anthony Butaslac, and Karen Maasin for violations of the Securities Regulation Code , in relation to the Cybercrime Prevention Act of 2012.
The DOJ also recommended the filing of charges against Kathleen Hortesano, Rochelle Camacho and Annielyn Hilotin, identified as agents of Organico.The SEC, together with the Philippine National Police-Criminal Investigation and Detection Group , filed a criminal complaint against Organico at the DOJ back in 2019, noting that this entity was luring people to invest without the necessary license.
Organico will also be charged for violation of Section 26.3 of the SRC, which deems it unlawful for any person to operate fraud or deceit in connection with the purchase or sale of any securities.
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