SEC And AMLC File Money Laundering Complaint Against Silverlion

The Securities and Exchange Commission (SEC) and the Anti-Money Laundering Council (AMLC) have jointly filed a money laundering complaint against Silverlion Livestock Trading Corporation, which was found to be unlawfully soliciting investments from the public.

The complaint also implicates Silverlion's Chief Executive Officer (CEO) Ryan Cagod Ladoing, President Renan Lara Ladoing, Vice President Michael Villalobos Berja, and Master Bagman John Paul Lopez. I Photo: Philippine Information Agency

Deputized AMLC Financial Investigators filed a joint complaint against Silverlion on October 5 for violating Section 4(b) of Republic Act No. 9160, also known as the Anti-Money Laundering Act (AMLA), as amended.

The complaint also implicates Silverlion's Chief Executive Officer (CEO) Ryan Cagod Ladoing, President Renan Lara Ladoing, Vice President Michael Villalobos Berja, and Master Bagman John Paul Lopez.

Additionally, Rose Marie Alvarez Guzman and Nena Ewayan Algoy, who were found to be involved in promoting Silverlion's investment solicitation activities, are included in the complaint.

Section 4(b) of the AMLA specifies that money laundering is committed by any individual who, with knowledge that any monetary instrument or property represents, involves, or relates to the proceeds of unlawful activity, converts, transfers, disposes of, moves, acquires, possesses, or uses said monetary instrument or property.

WEEKLY FEATURE : Jose Mari Chan And The Christmas Anthem