THE Securities and Exchange Commission (SEC) has filed a second money laundering case against Silverlion Livestock Trading Corp. and its chief executive officer, Ryan Cagod Ladoing, for alleged illegal solicitation of investments.
THE Securities and Exchange Commission has filed a second money laundering case against Silverlion Livestock Trading Corp. and its chief executive officer, Ryan Cagod Ladoing, for alleged illegal solicitation of investments.The SEC, together with the Anti-Money Laundering Council , filed the case against Silverlion last June 4 for violations of Section 4 of Republic Act 9160, also known as the Anti-Money Laundering Act .
The SEC noted that Ladoing had no other legitimate source of income, leading to the conclusion that the cash was derived from unlawful activities under the Securities Regulation Code .'The operations of Silverlion still ongoing at the time of the consented search. Ladoing has no other source of income where the said amount might be sourced out.
Slapped With Fresh Money-Laundering Case
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