North Luzon Monitor

North Luzon

SEC issues cease and desist order against Casa Infini, Ray Education

The Securities and Exchange Commission (SEC) has ordered Casa Infini Buildersand 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. In an order dated June 8, the Commission En Banc directed Casa Infini Builders and Realty,  Ray  Education,  Casa  Infini  Realty  Management  Co.  Ltd.,  Ray International  Philippines  Corporation,  doing  business  under  the  names  Ray Education Directions Consultancy Services, Be Unrivaled Productions, and Sine Cordillera, and Casa Infini Properties and Development Corp. to stop offering and  selling  investments  to  the  public  without  the  necessary  license  from  the SEC. The   order also covers Jennylyn   Galletes   De   Los   Santos   Floresca,   Raffy Palangdan  Floresca,  Jovielyn  Malonzo  Mina,  Jinky  delos  Santos  Lontoc, Jacqueline  Corel  Melchor,  Peter  Omaweng  Wasing,  Eric  M.  Pineda,  Jerick Bambi  Sadernas,  and  Kenjie  Millar, as  well  as  all representatives,  salesmen, solicitors,  agents,  uplines,  enablers  and  influencer acting  on  behalf  of  the groups. The entities, all based in Baguio City, identify Jennylyn De Los Santos as either a partner or incorporator. The Commission 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. The  order  was  issued  after  the SEC  Enforcement  and  Investor  Protection Department  (EIPD)  found  that the  Casa  Infini  group and  their  officers  and incorporators  have been  actively  offering  or  selling  unregistered  securities  in the form of investment contracts to the public. The groups were found to have enticed the public to invest in their alleged real estate projects in Baguio City either as a buyer-investor or partner financier.

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. Meanwhile,  investors can  become  partner  financiers  by  entering  into real estate development plans or programs, where they will be required to invest P300,000 to P10 million, in exchange for guaranteed passive income ranging from 3% to 4.8% in a span of eight to 20 months, or as stipulated in the contract. The EIPD found that the groups have so far persuaded more than 600 investors to participate in their schemes. Casa  Infini Builders  and  Realty  and Casa  Infini Realty  Management  are  duly registered partnerships with the Commission, while Ray International Philippines and Casa Infini Properties and Development are registered corporations. Ray Education is a sole proprietorship registered with the Department of Trade and Industry. However, the groups have never been issued a secondary license that would authorize them to offer or sell investments to the public. Further,   their   common   partner/incorporator, Jennylyn   De   Los   Santos, is allegedly the wife of a Raffy Palangdan Floresca, who is the subject of another cease  and  desist  order  issued  by  the  SEC  last  March  16  for  being  part  of  an unauthorized investment scheme conducted by the Horizon Players Club. SEC Release

Scroll to Top