The Securities and Exchange Commission (SEC) has secured the conviction of eight officers of lending company Phil86 Gurunanak Lending and Trading Corp. for submitting falsified documents for their company’s registration. Know more:
The Securities and Exchange Commission has secured the conviction of eight officers of lending company Phil86 Gurunanak Lending and Trading Corp. for submitting falsified documents for their company’s registration.
The SEC filed the criminal complaint against the officers after finding that they made a false statement in their application for the incorporation of Phil86. Upon verifying with the bank, however, the SEC found that no such certificate was issued. The agency denied the company’s application for registration as a lending company.
This is 10th conviction scored by SEC for violation of the LCRA, with a total of 86 individuals already convicted. The agency has also secured two convictions under the Revised Penal Code, with a total of 12 individuals convicted.
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