BAGUIO CITY — In a coordinated operation, the Securities and Exchange Commission (SEC) and other law enforcement agencies dismantled the unlawful activities of Casa Infini Builders and Realty Co. Ltd. and its affiliated companies.

The joint operation, conducted by the SEC Enforcement and Investor Protection Department (EIPD) alongside the Presidential Anti-Organized Crime Commission, the Regional Anti-Cybercrime Unit Cordillera, and the Baguio City Police Office, resulted in the arrest of several individuals involved in the illicit investment scheme.

According to a statement issued by the SEC, the EIPD served a cease and desist order (CDO) against Casa Infini on June 10 during their event called “Real EsTea Talk” held at a hotel on Legarda Road in Baguio City.

The CDO, issued by the SEC En Banc, aimed to halt Casa Infini’s illegal solicitation of investments from the public.

Among those apprehended was Jennylyn Galletes De Los Santos Floresca, along with 24 other agents, partners, and employees connected to Casa Infini.

The EIPD subsequently filed a criminal complaint against Ms. Floresca and the other individuals, charging them with violations of the Securities Regulation Code (SRC), the Financial Products and Services Consumer Protection Act (FCPA), and the Cybercrime Prevention Act of 2012.

The charges filed by the EIPD led to the indictment of Ms. Floresca, alongside three others, based on the resolution issued by the Baguio City prosecutor during the inquest proceedings.

Read: Baguio City Prosecution Office has dismissed alleged illegal operations filed by the SEC and other law enforcement agencies against Casa Infini Builders and Realty Co. Ltd., as well as Ray Education Directions Consultancy Services and their associated entities

The criminal complaint accused the individuals of offering securities without the necessary registration, engaging in investment fraud, and soliciting investments without the required licenses.

Partial disposition by the Baguio City Office of the City Prosecution stated, “[Evidence] shows that there is reasonable ground to hold respondents Floresca, Ruhhiya Ymana, Jerick Sadernas, and Jacqueline Melchor liable for violations of Sections 8, 26 and 28 of the [SRC] for their acts of offering securities without the required registration statement duly filed with and approved by the SEC, for investment fraud, and for soliciting investments without license.”

The SEC’s CDO targeted the entire Casa Infini group, which includes Ray Education Directions Consultancy Services, Casa Infini Realty Management Co. Ltd., Ray International Philippines Corporation, Be Unrivaled Productions, Sine Cordillera, and Casa Infini Properties and Development Corp.

These entities, with Ms. Floresca identified as either a partner or incorporator, were involved in unauthorized investment solicitation activities.

This is not the first time Ms. Floresca has faced regulatory action.

She was previously issued a CDO by the SEC on March 16 for her involvement in casino junket financing operations, along with Hector Liao Pantollana, Horizon Players Club, the Philippine National eSports League, and other Baguio City residents collectively known in social media as “Team Z”.

Casa Infini and its affiliated companies allegedly enticed the public to invest in supposed real estate projects in Baguio City.

Prospective investors were promised a guaranteed monthly interest rate of 4.5% for 12 months, equivalent to 54% per year.

During the “Real EsTea Talk” event, over 700 individuals were purportedly persuaded to join the investment scheme, and witnesses observed substantial sums of money being collected from 19 potential investors.

While Casa Infini and Casa Infini Realty Management are registered partnerships with the SEC, Ray International Philippines and Casa Infini Properties and Development are registered corporations.

Ray Education, on the other hand, is a sole proprietorship registered with the Department of Trade and Industry.

However, none of these entities possessed the necessary secondary licenses that would allow them to offer or sell investments to the public.