MikeLigalig.com

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The Securities and Exchange Commission placed the incorporators of VISIONER2020 under its watchlist.

This, after the National Bureau of Investigation discovered its fraudulent investment operation.

In his two-page letter dated Nov. 22, 2012 to Presidential Communications Operations Office Secretary Herminio Coloma Jr., SEC Supervising Commissioner Manuel Huberto Gaite said the commission placed the incorporators of Visioner2020 under its watch list" in the event they incorporate or become part of another corporation, partnership or association in the future".

Gaite identified the incorporators of the Visioner2020 as Felmar S. Andagan, Glenda G. Andagan, Efren E. Gepanao Sr., Evangeline L. Gepanao and Efren L. Gepanao, Jr.

The SEC official said the Visioner2020 International Traders Inc. was registered on October 2, 2012 with the Cagayan de Oro Extension Office of the SEC as a trading company to market all kinds of mineral ores, among others.

However, the Visioner2020 does not have a secondary license to sell securities.

On November 20, 2012, the Corporation Finance Dept. of the Commission issued a certification that Visioner2020 is not a registered issuer of securities pursuant to Sections 8 and 12 of the Securities Regulation Code and is therefore not licensed to offer or issue securities to the public," Gaite said.

Consequently, the SEC posted at its website an advisory to the public that Visioner2020 has no secondary license to issue securities.

"At the same time, the Extension Offices of the Commission were also informed thereof. We shall also publish said advisory in a newspaper of general circulation and in a local newspaper in Pagadian City to further warn the investing public of the alleged pyramiding scheme of Visioner2020," Gaite said.

"The foregoing are the actions taken by the Commission on the alleged activities of Visioner2020 and we would appreciate your assistance by providing us any information or evidence that will aid us in our investigation of the instant case," he added.

On Nov. 19, 2012, agents of the National Bureau of Investigation conducted an entrapment operation in Mendoza Building in Tiguma, Pagadian City, Zamboanga del Sur.

The 30-year-old Glenda Andagan and her 10 employees were arrested during the operation conducted by the NBI agents.

Seized from Andagan’s possession were firearms, numerous documents and the P30,000 marked money used in the entrapment operation.

Reports said the Visioner2020 purportedly proposes an offer of 30-percent interest return to potential investors.

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