Philippines DOJ Moves Against Unlicensed Investment Schemes in Major Regulatory Crackdown

The Philippine Department of Justice has approved criminal charges against three entities accused of orchestrating unlawful investment schemes, marking a forceful step in protecting the public from aggressive financial fraud. The move follows findings by the Securities and Exchange Commission that these groups solicited funds without the licenses required under the Securities Regulation Code, offering unrealistic returns while operating outside regulatory scrutiny.

Eton Phil Non-Specialized Wholesale Trading, operated by founders Elton John  Malabarbas and Princess Samson Frias, allegedly enticed investors with promises of 20% to 50% monthly gains. Capital contributions as low as ₱5,000 were marketed as guaranteed opportunities, despite no registered securities or accreditation. The SEC had already issued a cease-and-desist order in 2023, after prior public advisories were ignored.

SCET Colleens Corp. is similarly accused of offering unregistered investment contracts with monthly returns ranging from 5% to 8%. Despite having its corporate registration revoked in early 2023, the group allegedly continued to solicit funds. Directors Shara Jane Chavez, Earn Saguindel, and Edith Francisse Tablante now face prosecution, with state investigators citing deliberate deception and defiance of regulatory requirements designed to safeguard investors.

In a separate case, casino junket-linked operators led by Hector Aldwin Liao Pantollana and associates are charged for promoting schemes under entities such as Philippine National ESports League, Horizon Players Club, and Team Z. Promised annual gains of 60% to 111%, purportedly secured by postdated checks, were found to be part of an unregistered scheme with no trace of lawful oversight. A permanent cease-and-desist order was issued in 2024, reinforcing the SEC’s determination to cut off pseudo-financial networks disguised as entertainment or gaming investments.

These coordinated charges underscore the escalating resolve of Philippine authorities to pursue criminal liability, not just administrative sanctions, against those exploiting investor trust. The crackdown serves as a warning throughout the financial sector: offers of extraordinary returns, coupled with informal collection channels and absent regulatory credentials, are red flags of potential fraud. 

If you fell for a scam, you can Submit a Complaint to BrokersView.