JUSTICE Secretary Jesus Crispin Remulla has ordered an investigation of the alleged fraudulent investment practice of Maria Francesca Tan (MFT) Group of Companies Inc. and Foundry Ventures I Inc.
Initial inquiry by the Securities and Exchange Commission (SEC) revealed that the two companies issued investors either a promissory note or borrower-lender agreement as proof of their investment. The SEC said that such documents were not legally binding since they did not go through the proper process of documentation and registration.
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