SEC says Dermacare owner, finance officer arrested over alleged investment scheme
Key Takeaways
- •Dermacare owner Chanda P. Atienza and Admin and Finance Manager Venus Eunizel P. Gonda were arrested on Sept. 5 upon their arrival in the Philippines, following their apprehension by Malaysian authorities.
- •The SEC filed criminal complaints in 2024 alleging the two solicited and offered investments to the public without the registration, license, or authority required under the Securities Regulation Code.
- •The alleged scheme involved a franchise partnership agreement promising investors a guaranteed 12.6% quarterly return for five years, along with complimentary salon services.
- •A Batangas City regional trial court canceled the pair's passports in February after they left for Malaysia, and an Interpol Red Notice later served as the basis for their August arrest by Malaysian authorities.
- •The SEC urged the public to verify the legitimacy of investment offerings and to report any solicitation involving potentially unauthorized or fraudulent schemes.
The Securities and Exchange Commission (SEC) said the owner and a key officer of Beyond Skin Care Ventures, Inc., which operates Dermacare Face Body and Laser Center/Dermacare-Beyond Skin Care Solutions, were arrested in connection with criminal cases involving alleged unauthorized investment solicitation, investment fraud, and syndicated estafa.
In a statement on Thursday, the corporate regulator said Dermacare owner Chanda P. Atienza and Admin and Finance Manager Venus Eunizel P. Gonda were arrested on Sept. 5 upon their arrival in the Philippines, after having been apprehended by Malaysian authorities.
The arrests were facilitated by the SEC Enforcement and Investor Protection Department, the Criminal Investigation and Detection Group, and the Philippine Center on Transnational Crime-Interpol NCB Manila.
The cases arose from allegations that Ms. Atienza and Ms. Gonda solicited and offered investments to the public without the registration, license, or authority required by the SEC.
In 2024, the SEC filed criminal complaints against Dermacare and its officers for alleged violations of Sections 8, 26, and 28 of Republic Act No. 8799, or the Securities Regulation Code (SRC), in relation to Section 6 of Republic Act No. 10175, or the Cybercrime Prevention Act of 2012.
Section 8 of the SRC prohibits the sale or offering of securities without an SEC-approved registration statement. Section 28 requires brokers, dealers, and salespersons engaged in securities transactions to be registered with the commission, while Section 26 prohibits fraudulent transactions involving the purchase or sale of securities.
Ms. Atienza and Ms. Gonda are also facing separate charges for syndicated estafa.
According to the SEC, the alleged scheme involved a franchise partnership agreement offering investors a guaranteed return equivalent to 12.6% interest every quarter for five years, along with complimentary salon services.
In February, Branch 2 of the Regional Trial Court of Batangas City granted the SEC’s motion to cancel the passports of Ms. Atienza and Ms. Gonda after they left for Malaysia while facing criminal charges.
The International Criminal Police Organization subsequently issued a Red Notice against the two, the SEC said. The regulator added that the passport cancellation order served as the basis for their arrest by Malaysian authorities in August.
The SEC reminded the public to exercise caution and verify the legitimacy of individuals or entities offering investment opportunities. It also urged anyone who may have been solicited to invest in potentially unauthorized or fraudulent schemes to report the activities to the commission.
— Alexandria Grace C. Magno
