The Securities and Exchange Commission has ordered Baguio-based real estate firm Casa Infini Builders and Realty Co. Ltd., Ray Education Directions Consultancy Services and their affiliated entities to stop soliciting investments from the public in the guise of real estate-related investments.
“[T]he [groups’] unauthorized investment-taking activities warrant the prompt issuance of a cease and desist order as it operates as a fraud to the public which, if unrestrained, will likely cause grave or irreparable injury or prejudice to the investing public,” SEC’s order read. The SEC also ordered the groups to cease their internet presence relating to their investment schemes. They were further prohibited from transacting any business involving funds in its depository banks, and from transferring, disposing, or conveying any related assets to ensure the preservation of the assets of the investors.
Investments collected from buyer-investors will supposedly finance the real properties claimed to be owned, managed, and operated by the Casa Infini group. Through the projects value appreciation, investors were promised a guaranteed income of more than P33,000 per month for 20 months. The SEC found that the groups have so far persuaded more than 600 investors to participate in their schemes.
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