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