By Perfecto T. Raymundo, Jr.
QUEZON CITY — Lawyer Ferdinand Topacio on Tuesday (April 22) urged the Securities and Exchange Commission (SEC) to strengthen its regulatory function and enforcement of its mandate.
In a press conference at Kamuning Bakery Cafe, Atty. Ferdinand Topacio urged the SEC to strengthen its regulatory function and enforcement of mandate against Ponzi scam.
“The scams, especially if the sum involved is large, it should be checked with the SEC. Set things aright. Ayusin natin ito,” Topacio said.
“Otherwise, I have to do my duty as a lawyer and I have to do my duty to the country and to my own as a lawyer,” he added.
“We are not saying that they are guilty but it is what the documentary evidence and video say,” Topacio said.
The victims of the alleged “Procap International Ponzi scheme* broke their silence.
They exposed the Pyramid & Ponzi Scheme.
They accused Procap International of defrauding thousands through a” Ponzi-pyramid hybrid scam”, allegedly using Senator Raffy Tulfo’s name to lure victims.
Atty. Topacio condemned SEC’s “shocking regulatory negligence” and demanded a Congressional probe for stronger anti-scam laws.
The victims spoke out first-hand accounts of lost life savings, emotional turmoil, and demands for justice.
“This isn’t just stolen pesos—it’s shattered lives. While the SEC slept, predators thrived. We will drag this scandal into the light and ensure accountability,” Topacio stressed. ###
