SEC revokes incorporation of Chiyuto Creative Wealth
Published February 17, 2021, 5:00 AM The Securities and Exchange Commission (SEC) has revoked the certificate of incorporation of Chiyuto Creative Wealth Documentation Facilitation Services for operating an unauthorized investment program that resembles a Ponzi scheme. The SEC Enforcement and Investor Protection Department (EIPD) also imposed penalties totaling P9 million against Chiyuto and its single stockholder Patrocenio Calvez Chiyuto, Jr. for administrative violations of the Securities Regulation Code (SRC). In addition, Chiyuto was permanently disqualified from being a director of ot...
Source: mb.com.ph