DTI warns public against bogus lending firm PDF Print E-mail
Tuesday, 29 May 2012 16:21

Global Money is not registered with the Securities and Exchange Commission (SEC) as a corporation and has also not been issued a Certificate of Authority to operate as a lending company.

This information was contained in an advisory released by SEC and furnished to the media by Ma. Socorro M. Atay, Provincial Director of the Department of Trade and Industry.

“I don’t know if this has been brought to the attention of the media, word of mouth has reached DTI but nobody has filed a complaint about Global Money Unlimited. And I don’t know if Caceres Lending Investor or Caceres Global Foundation has reached Pagadian City or Zamboanga del Sur but definitely, we have heard about Global Money  Unlimited,” Atay explained.  

She said the Commission advises the public that the registration of Caceres Lending Investor Company with SEC Registration No. A1999090295 as a partnership has already expired in 2009.

Moreover, it has not been issued a Certificate of Authority (CA) to operate as a lending company pursuant to Republic Act 9474 or the Lending Company Regulation Act of 2007 and is therefore not allowed to engage in the business of lending anywhere in the Philippines.

Furthermore, the records of the Commission do not show the registration of Global Money Unlimited Inc. and Caceres Global Foundation Inc. as corporations or partnerships.

The public is therefore advised not to enter into any lending or other transactions with the above-named entities.

Information relating to the unauthorized lending or other activities of Caceres Lending Investor Company, Global Money Unlimited and Caceres Global Foundation Inc. may be e-mailed to ced@sec.gov.ph or call the Enforcement and Prosecution Department at Telephone Nos. 584-5337 (Office of the Director) and 584-7652 (Complaints and Investigation Division). — PIA