DOJ Charges 3 PH Groups for Illegal Investments

The Department of Justice (DOJ) has approved the filing of criminal complaints against three unregistered investment groups and their agents for violating the Securities Regulation Code (SRC), supporting the Securities and Exchange Commissions (SEC) intensified crackdown on financial scams in the Philippines.

According to the SEC, DOJ prosecutors found probable cause to charge Eton Phil Non-Specialized Wholesale Trading, SCET Colleens Corp., and a casino junket-linked group for selling investment contracts without SEC authorization and defrauding the public.

Contents

01

Eton Trading Promised 20%–50% Monthly Returns

02

SCET Colleens Faces Multiple Fraud Counts

03

Casino Junket Group Offered 111% Profit

Eton Trading Promised 20%–50% Monthly Returns

State prosecutors recommended criminal charges against Eton Tradings founders and 12 agents after discovering the company offered frozen meat investment contracts with unrealistic monthly profit rates of 20% to 50%.

The SEC had previously warned the public about Eton Trading in February 2023 and issued a cease-and-desist order (CDO) five months later

SCET Colleens Faces Multiple Fraud Counts

SCET Colleens Corp. and its three directors face cases for illegally selling investments with alleged returns of 5% to 8% per month. The DOJ also recommended 28 counts of fraud, corresponding to each illicit transaction.

The SEC earlier revoked the companys registration in 2023 after repeated violations of its orders.

Casino Junket Group Offered 111% Profit

A casino junket operator and three associates were charged with soliciting public funds to finance gambling operations through three unregistered entities: the Philippine National ESports League, Horizon Players Club, and Team Z.

Investors were promised returns of up to 111% per year, secured by postdated checks—a scheme permanently banned by the SEC in October 2024.

The SEC urged the public to verify the legitimacy of any investment offers using its official website or the SEC Check App to avoid falling victim to fraudulent investment operations.