THE Securities and Exchange Commission said it has secured the conviction of three officials of lending company Dr Verma Lending Corp. after it submitted falsified documents for registration with the agency.In a decision dated April 5, the Pasay Metropolitan Trial Court Branch 47 found three officials of the company guilty of the Revised Penal Code, providing penalties for the falsification of public documents by a private individual.
The SEC filed the criminal case against Dr Verma Lending after the SEC Corporate Registration and Monitoring Department found irregularities in the Certificate of Bank Deposit in the amount of P1 million, supposedly to have been issued by the Pasay Two Shopping Center Branch of BDO Unibank Inc. in April 2017.
Upon verification with the bank, the SEC found that the bank certificates were falsified and that the BDO branch had not issued the certificate of bank deposit submitted by Dr Verma Lending. Last March, the SEC also saw the prosecution of officers of Phil86 Gurunanak Lending ang Trading Corp. over the same violation.
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